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Each part of a Bicycle is significant, however some parts are most important as without which the bicycle can not operate at all. As per my knowhow, I am trying to list the bicycle parts according to their priority in a bicycle.

1. Frame
2. Suspension/Fork
3. Chainwheel Crank set, B.B.Axle & B.B. Fitting set etc.
4. Handlebar Set and Handle Fittings etc.
5. Rims and Tires etc.

6. Pedals.
6. Brakes 
7. Freewheel, Chain, Chain adjuster etc.
8. Saddle, Seat Post etc.

There is also many other major parts which play an important role in a bicycle assembly. Find bicycle parts complete list here.

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