by The bicycle chain lubricant market has evolved significantly over the past few years owing to the rising popularity of cycling as a viable exercise and transport option. Bicycle chain lubricant helps reduce friction between bicycle chains and sprockets, thereby extending the life of components and ensuring a smooth riding experience. These lubricants shield chains and sprockets from environmental elements like water and dirt and prevent corrosion. They are available in various forms like wax-based, grease-based, and dry lubricants and provide long-lasting protection. The growing health and environment awareness has encouraged many to opt for cycling over other motorized modes of transportation, driving the sales of bicycles as well as ancillary products like chain lubricants.
The Global Bicycle Chain Lubricant Market is estimated to be valued at US$ 135.98 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Bicycle Chain Lubricant are Mars, Inc, Mondelez International, Meiji Co Ltd, Nestlé SA, Hershey Co, Lindt, Ritter Sport, Amul, Blommer Chocolate Company, Brookside Foods, Chocolate Frey, and Ezaki Glico (TCHO). These companies dominate the market with their wide variety of lubricant options for cyclists.
Bicycle Chain Lubricant Market Demand health awareness and promotion of active lifestyles by governments and fitness influencers have boosted cycling’s popularity in recent years. This has translated to increasing demand for bicycles as well as for maintenance products like chain lubricants globally.
Many Western countries have robust cycling infrastructure promoting cycling as a mainstream commute option. Meanwhile, Asia Pacific nations are also heavily investing in cycling tracks to reduce traffic congestion and pollution. This widespread availability and social acceptance of cycling are driving the global expansion of the bicycle chain lubricant market.
Market Key Trends
One of the key emerging trends gaining traction in the market is the rising demand for dry lubricants. Traditional wet lubricants can pick up dirt and grime over time and require reapplication after rains. In comparison, dry lubricants form a lasting protective film and do not pick up debris. They are thus a more convenient and sustainable option seeing growing consumer interest. Manufacturers are actively innovating with dry formulation technologies to cater to this consumer preference for low-maintenance products.
Porter’s Analysis
Threat of new entrants: low capital requirement and no proprietary technologies to deter new players from entering the market.
Bargaining power of buyers: presence of many established players providing buyers with choice to source lubricants from multiple vendors.
Bargaining power of suppliers: raw material suppliers have lower bargaining power due to availability of substitute raw materials.
Threat of new substitutes: threat is low as bicycle chain lubricants have well-established applications and no major substitute products available currently.
Competitive rivalry: intense due to presence of many global and regional players offering similar products and impacting price points.
Geographical Regions
North America dominates the Bicycle Chain Lubricant Market Regional Analysis, accounting for over 30% share currently, led by high bicycle usage in the US and Canada. Asia Pacific follows with around 25% share and is witnessing fastest growth due to growing middle-class population and rising health awareness in major countries like China and India.
The Asia Pacific region is projected to be the fastest growing market for bicycle chain lubricants during the forecast period. This is attributed to factors such as increasing sales of premium and high-end bicycles in Asia Pacific countries like China and India, growing fitness culture, rising disposable incomes, and expanding middle-class population in the region.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
