Probably uses a large format camera and several lights with soft-boxes, the key in photographing something like a dérailleur that is shiny metal is to avoid hot spots in the lighting, you want it nice and even in all directions. It takes a lot of time in a studio to get it set up right, although people who do a lot of product shots may have a setup where the lights are left positioned properly and they just put the camera on a mount, put the item in the right position and fire away. Best way to get such a shot at home, is wait for a dry overcast day, then set up outside because the lighting will be just about perfect.