The global Bicycle Chain Lubricant Market is estimated to be valued at US$ 118.03 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Bicycle chain lubricant is applied to bicycle chains to reduce friction and prevent wear. It protects components from dust and moisture and increases the lifespan of a bicycle chain. Dry lubricants leave a wax-based residue that attract less dust and dirt.
Market key trends:-
One of the major trends in the bicycle chain lubricant market is the rising demand for dry or wetter lubricants. Dry lubricants leave a thin waxy film on chains that attracts less dust and grime and require less frequent re-application. They are ideal for dirty or wet riding conditions. Many cyclists prefer them over wet or wetter lubricants for their advantages. Another major trend is the increasing sales of bicycle chain lubricants online. Various e-commerce portals offer a wide variety of chain lubricants from different brands. Online shopping offers convenience to consumers and has increased the access to products. This has positively impacted the sales of bicycle chain lubricants in recent years.
Segment Analysis:-
The global bicycle chain lubricant market can be segmented based on type, raw material, and distribution channel. Based on type, the bicycle chain lubricant market is dominated by the dry lubricant segment due to its advantages such as preventing dirty build-up on chains and cassettes, easy application without messy spray cans, resistant to dirt pick-up, and long-lasting lubrication.
Key Takeaways:-
The Global Bicycle Chain Lubricant Market Size is expected to witness high growth, exhibiting a CAGR of 7.3% over the forecast period, due to increasing awareness about bicycle maintenance and repair among consumers.
Regional analysis:
Europe dominates the global bicycle chain lubricant market currently, accounting for over 35% of the market share. The high cycling culture and supportive infrastructure projects in countries like the Netherlands, Denmark, Germany, and the UK are driving the demand for bicycle accessories like chain lubricants in the region. Asia Pacific is expected to be the fastest-growing regional market owing to rising health consciousness in leading economies of China and India.
Key players:
Key players operating in the bicycle chain lubricant market are Finish Line, White Lightning, Tri-Flow, Pedro’s, Park Tool, Muc-Off, Shimano, WD-40 Bike, Motorex, Rock N Roll, Maxima, Boeshield, Squirt, Morgan Blue, Mazola, Castrol, Weldtite, Phil Wood, ProGold. Finish Line and White Lightning currently dominate the market and are expanding their distribution networks to strengthen their foothold in the growing bicycle chain lubricant market globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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