Korea Bicycle Component Aftermarket Analysis Size and Share Forecast Outlook 2025 to 2035

The Korea bicycle component aftermarket is set for steady expansion, driven by rising cycling participation, urban infrastructure development, and demand for premium parts. Valued at USD 453.4 million in 2025, the market is projected to reach USD 721.1 million by 2035, registering a CAGR of 4.8%. Strong demand for replacement and performance-oriented components, coupled with technological advancements and expanding distribution channels, is expected to shape the future of the aftermarket landscape in Korea.

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Report Coverage & Deliverable

• Market Size & Forecast (2025–2035): USD 453.4 million to USD 721.1 million
• CAGR: 4.8% during the forecast period
• Coverage Segments: Component Type, Sales Channel, Bicycle Type, Region
• Key Deliverables: Market sizing, growth opportunities, competitive analysis, segmental performance insights, provincial trends, and forecasts for aftermarket expansion.

Key Factors Shaping Market Dynamics

• Health & Wellness Trends: Growing consumer focus on fitness and outdoor recreation is fueling cycling adoption.
• Urban Infrastructure Development: Government-backed investments in dedicated bike lanes and parking facilities are encouraging cycling as a daily mode of transport.
• Technological Advancements: Lightweight materials, precision-engineered derailleurs, and electronic shifting systems are boosting demand for upgraded components.
• Retail Transformation: Expansion of specialty retailers and e-commerce platforms is enhancing product accessibility and customer support.
• Environmental Sustainability: Growing concerns about pollution and congestion are leading consumers toward bicycles as eco-friendly alternatives.
• Cycling Events & Culture: Increasing popularity of competitive cycling and recreational activities is reinforcing demand for premium parts.

Key Takeaways

• Market Growth: From USD 453.4 million in 2025 to USD 721.1 million by 2035 at a CAGR of 4.8%.
• Leading Component Segment: Derailleurs dominate with 21.4% market share due to critical gear-shifting performance.
• Top Distribution Channel: Specialty bicycle retailers (34.7%) lead thanks to expert guidance and post-purchase support.
• Leading Bicycle Type: Mountain bikes (29.6%) retain dominance driven by off-road cycling popularity.
• Category Spotlight: Road groupsets (57.9%) expected to drive significant growth in 2025 due to rising road cycling enthusiasm.
• Departmental Stores Surge: Expected to capture 34.2% share in 2025, providing convenience and brand visibility.

Regional Analysis

• South Gyeongsang: Infrastructure investments and pro-cycling policies boosting aftermarket growth.
• North Jeolla: Health & wellness trends and outdoor recreation culture driving demand for advanced bicycle components.
• Jeju Province: Educational initiatives, rising disposable incomes, and partnerships with local retailers enhancing ecosystem expansion.

Key Segments of Market Report

By Component Type

• Derailleurs (21.4%) – Leading segment, fueled by technological upgrades and consistent replacement demand.
• Road Groupsets (57.9% in 2025) – Driving growth due to performance-oriented road cycling and race participation.

By Sales Channel

• Specialty Retailers (34.7%) – Dominant channel with expert services and strong consumer loyalty.
• Departmental Stores (34.2%) – Providing one-stop solutions, trusted brands, and growing consumer adoption.
• E-commerce Platforms – Expanding reach, especially in emerging urban and regional areas.

By Bicycle Type

• Mountain Bikes (29.6%) – Retaining leadership through off-road cycling trends, adventure tourism, and component compatibility.
• Road Bikes & Hybrid Bikes – Gaining traction due to growing competitive cycling culture and eco-friendly commuting preferences.

Competitive Landscape

The Korea bicycle component aftermarket is highly competitive with a strong presence of global leaders and regional players. Companies are investing in product innovation, partnerships, and retail expansion to capture market share.

Key Players

• Shimano Inc. – Leading innovation in derailleurs, road groupsets, and electronic shifting technologies.
• SRAM LLC – Expanding product portfolio with advanced gear systems.
• YoungWonCycle – Strong domestic presence with aftermarket services.
• Merida Industry Co. Ltd. – Global manufacturer with rising influence in the Korean aftermarket.
• Dorel Industries Inc.
• Accell Group N.V.
• Hero Cycles Limited
• Giant Manufacturing Co. Ltd.
• Avon Cycles Ltd.

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