Bicycle Shock Absorber Market Size, Share, Growth, and Industry Analysis, By Type (Single Acting Shock Absorber, Friction Type Shock Absorber, Lever Type Shock Absorber, Telescopic Type Shock Absorber and Others), By Application (Road Bike, Mountain Bike and Others) and Regional Insights and Forecast To 2032

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BICYCLE SHOCK ABSORBER MARKET REPORT OVERVIEW

The Bicycle Shock Absorber Market size was valued at approximately USD 1.2 billion in 2023 and is expected to reach USD 2.1 billion by 2032, growing at a compound annual growth rate (CAGR) of about 8.5% from 2024 to 2032.

A bicycle shock absorber is an attachment found in bicycles to improve the experience one gets from the bicycle through the ability of the bicycle to absorb shocks and vibrations that may be caused by the ground. This is common in mountain and hybrid bicycles and its usefulness is twofold enhancing the steering and increasing the comfort. These types of bicycle shock absorbers comprise the head tube shock absorbers for the front built-in forks, rear suspension, seat post suspension, saddle suspension and at times stems. Soft tails are bikes with only the front suspension while full suspension bikes have the front and rear suspension systems. Those bicycles without shock absorbers are called rigid. All types of shock absorbers help in classifying the shock through rugged terrains, inconsistent ground and the availability of potholes, hence providing an efficient way for the autos in question to ride and manoeuvre through such.

A bicycle shock absorber typically comprises a spring and a damper that are used to address issues of impact. The spring sets the force that is needed to compress the shock absorber while the damper works for the rate of compression as well as the rebound, providing smooth motion. In addition to the preload adjustment for setting the static sag to the rider’s preference, the shock offers compression damping to control the shock absorption rate, rebound damping to control the speed of extending the shock and a lock-out for efficiencies on smoother terrains. Combined, these act to maintain constant wheel contact with the ground, thus increasing comfort, traction and stability while negotiating varied terrains.

COVID-19 IMPACT

"Pandemic impacted the manufacturing sector greatly due to shut down of factories and shortage of workforce"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The global cycling industry has been disrupted, impacted by pandemic in the bicycle parts manufacturing including shock absorbers because factories shut down and there were some difficulties in sourcing workers needed for the production lines. These intermissions caused big setbacks in the manufacturing and delivery processes, which affected the availability of these key components. As factories could not quickly come back to their normal functioning and adapt to new sanitary measures, supply chains became even more disrupted, which influenced the rise in the prices for bicycle parts. Such fluctuations in costs and their consequent increase along with the reduction in supply influenced market development and became problematic for producers and customers. This situation described the weakness of supply chain networks across the world and the quest for improved production strategies to counter such situations in the future.

LATEST TRENDS

"Increasing trend of cycling for leisure activities and physical exercise to the drive market"

The increase in the use of bicycles for leisure activities and physical exercise has put into existence a larger market with an emphasis on bicycles that are fitted with enhanced shock absorption systems. As many people opt for cycling for exercise, recreation and transport, not forgetting the cycling culture that young people in urban areas appreciate, it became clear that companies in the bicycle industry would require efficient shock absorbers. This trend is most notable in mountain bicycles where the provision of efficient shock absorbing capabilities is important in tackling difficult terrains and contributing to the comfort of the bicycles and the performance of their users. The bicycles are establishing their market among the rising cycling enthusiasts across the demographic backgrounds and geographical areas and the demand for the new generation shock absorbers is also on the rise. The shift from improving the comfort of riding through taller suspension systems indicates the general acceptance of cycling as a means of transport fitness activity.

BICYCLE SHOCK ABSORBER MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Single Acting Shock Absorber, Friction Type Shock Absorber, Lever Type Shock Absorber, Telescopic Type Shock Absorber and Others.

• Single Acting Shock Absorber: A single acting shock absorber offers resistance to the movement only in the rebound stage offering the required dampening as the suspension extends but not during compression. It is less bulky and lighter and hence relatively cheaper but suitable for smooth riding since it requires both compression as well as rebound. Most machines incorporating this type of suspension can be found in older models and low-end mountain bikes since it is suited for low-impact riding conditions.

• Friction Type Shock Absorber: Friction type shock absorbers rely on friction to reduce movement by direct contact rather than fluid which actuates hydraulically. They possess poor damping characteristics that fluctuate thereby contributing to low popularity and are regarded as outdated in the modern high-performance bicycles. Though cheaper and easier to produce, their inability to fold and general lack of durability restricts their usage, especially seen in basic models or outdated designs.

• Lever Type Shock Absorber: Lever type shock absorbers incorporate the use of a lever to increase the force that is applied to the shock, it has two pistons that force oil through a valve during axle movement. This design offers a practical solution for damping, especially in bikes that have considerable travel history. Widely used in rough demanding terrain bicycles, the lever type shock absorbers provide higher performance but need accurate engineering for improved efficiency and durability.

• Telescopic Type Shock Absorber: There are telescopic shock absorbers that are common in modern bicycles that have been constructed where there is a tube that is inserted into another tube to allow compression and extension. This design of the shock absorber is useful in both the compressing as well as the rebounding phase, which makes the product suitable for numerous cycling situations. It keeps bicycle form small and light to offer more comfort and easy control, especially in mountain bicycles and performance bicycles.

• Others: The ‘Other’ segment in the bicycle shock absorber market includes niche variants such as air shock absorbers that utilize compressed air for damping and advanced systems integrated with electronics to provide dynamic control adjustments. These designs, though not as widespread, are supposed to enhance the comfort and functionality of the bicycles for riders, especially in racing activities. This may happen as technology progresses, especially among those within enthusiasts and professional circles looking for the latest improvements.

By Application

Based on application the global market can be categorized into Road Bike, Mountain Bike and Others.

• Road Bike: Road bikes are intended for racing and everyday riding on regular roads with specific lightweight dampers that help reduce the bike’s weight as well as dampen the roads’ imperfections. Advanced materials and technologies are incorporated into the car’s structure and assist the wheels in providing a comfortable and jerk-free ride while maintaining good stability. While not as complex as mountain bike systems, some road bicycles contain minimal elements of shock absorption to increase the comfort of riding on bumpy roads and reduce exhaustion.

• Mountain Bike: Mountain bikes are specifically designed for off-road cycling which provides more or less suspension with the use of strong front and rear shock absorbers. These shock absorbers are designed for optimum comfort and control and may incorporate the options of variable damping and lock-out in line with the prevailing conditions. The rise of mountain biking also boosts the need for better shock absorbers to improve functionality and hence new inventions in this area with a specific focus on durability.

• Others: The “Others” comprise bicycles such as hybrid, touring and speciality bicycles which are not road or mountain bicycles. These bikes have shock absorbers which provide both comfort and performance for cycling in various ways according to the preferences of the riders. Mountain bikes, for example, use considerable shock absorption for primarily rough terrains, while tour and hybrid bikes use moderate shock absorption for both paved and light off-road conditions. Advancements are improving comfort and performance which are gradually widening the availability of high-performance shock absorbers for merely recreational users and passionate sportsmen.

DRIVING FACTORS

"Increased demand and participation in mountain biking events to propel the market"

Increased demand for bicycles, mountain biking events, bicycle racing and competitions across the world are among the forces propelling the global bicycle shock absorber market growth. Competitions such as the downhill championships and cross-country races attract significant entries and views therefore increasing the riders’ interest in high-performance bicycles. The market for such events gradually increases and therefore the need to have better shock absorbers, which provide better ride comfort and control. The audience of consumers comprises all individuals interested in enhancing their performance and experience when operating their relevant vehicle types on different kinds of tracks, including better shock absorber. This also increases the demand for shock absorbers on automobiles and other vehicles and thus increases the flow of investment in the technology as manufacturers look forward to catering for the more assertive audience. Therefore, the increasing opportunities for mountain biking events can also be considered as one of the main drivers that unlock innovations in shock absorber and stimulate the growth of the overall market.

"Popularity of electric bicycles (E-bikes) to wider the market"

Electric bicycles are another segment which is fueling the growth of the shock absorber market at a rapid pace. The integration of batteries and electric components to build the e-bikes involves additional weight that requires careful consideration in the incorporation of a suspension system to accommodate additional gear stress due to e-bike weight and to improve the bike’s performance across various terrains. Due to the growing demand for e-bikes in the future, it is crucial to improve the existing shock absorption systems for appropriate support to e-bikes. With this in mind, manufacturers of e-bikes are developing products with quality suspension systems that will offer better comfort, stability and performance than traditional bikes. This trend of conversion towards e-bikes not only expands the potential customer base for shock absorbers but also influences and pushes the upgrades and developments of suspension systems suitable for the needs of electric biking. Therefore, the increasing use of the e-bike market contributes to the development of the market.

RESTRAINING FACTORS

"Rise of alternative absorber technologies poses a challenge to the market"

New types of suspension systems, including active and semi-active ones threaten the bicycle shock absorber market space. These advanced systems offer higher severance and tunable range characteristics through damping control depending on the road surface. Active suspension works based on electro-hydraulic power and adapts itself to the conditions change whereas the semi-active suspension works on electronic signals with the use of a power unit and can be manually operated. Since modern cycling technologies are on the rise and more cyclists look for advanced means to enhance their performance, the need for regular shock absorbers may decrease. The trend toward utilizing higher-level shocks as an upgrade represents a potential limitation on the development of this market segment for traditional shock absorbers in favour of the newer capability and flexibility of these contemporary products. Therefore, the growth of other suspension systems can be considered a major factor that potentially challenges the market.

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BICYCLE SHOCK ABSORBER MARKET REGIONAL INSIGHTS

"North America has dominated the market due to the presence of a large number of mountain biking consumers"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America dominates the global bicycle shock absorber market share because of the high adoption of shock absorbers especially by mountain bikers in the region. This is because the geographical area consists of various terrains and hence requires high-quality shock absorbers that can prevent vibration and offer superior control. Off-road cyclists across North America consider suspension quality as a vital component when it comes to tackling difficult terrains and delivering a high-quality riding experience. This large customer pool creates strong market development that encourages manufacturers to produce new and effective shock absorbers that fit this rider demographic. Moreover, the region has an engaged cycling community and there is a significant number of competitive cycling events which support the need for high-quality shock absorbers. As such, North America has dominated the market due to the largest biking population and focus on high-performance or shock absorber technologies.

KEY INDUSTRY PLAYERS

"Key industry players are adapting smart technology to foster the market"

Key industry players are constantly developing new products by incorporating advanced sensors into the shock absorbers that capture data on the behaviour of a rider and road physical features. This allows shock absorbers to provide an individual and variable level of damping, improving the comfort and handling of the ride. Smart shock absorbers are, therefore, able to adapt their operation more accurately through their dynamic changes of performance in light of impact force and or changes in the terrain conditions. This technology makes for an adaptive form of riding that is accommodative of the needs of the rider. With the advancements in smart technology, it is believed that this development will further fuel the market growth as cyclists begin to seek more advancement in their bicycles and enhanced damping capabilities from their suspension systems. The progression from traditional super shock absorbers to intelligent and data-savvy twit shock absorbers is a huge advancement in cycling stock.

List of Top Bicycle Shock Absorber Companies

• Miner Elastomer Products Corp. (U.S.)
• Harkness Industries, Inc. (U.S.)
• RockShox (U.S.)
• SRAM Corporation (U.S.)
• Fox Factory (U.S.)
• R.L. Hudson & Co. (Georgia)
• Marocchi (Italy)
• Dia-Compe (Japan)

INDUSTRIAL DEVELOPMENT

May 2024: Gabriel India is advancing its suspension expertise by exploring e-bikes and solar dampers. The company is collaborating with experts in Taiwan to develop e-bike technologies and has created solar dampers for solar panel trackers. Although immediate revenue from these innovations is limited, Gabriel aims to become a top 5 global shock absorber manufacturer by 2025 through technological innovation, exports, and strategic growth.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.