The mountain bicycles market is growing due to an increase in the number of occurrences in bike riding contests, as well as the pace with which the country's economic development is accelerated as a result of the competitions
The global Mountain Bicycles market is projected to reach USD 119.29 billion by 2030, growing at a CAGR of 8.2 %
Covid-19 Impact & Market Status
The worldwide mountain bike industry has been severely impacted by the COVID-19 epidemic. Almost all major nations saw a halt in economic growth as a result of the COVID-19 pandemic, affecting consumer spending choices. The lockdown enforced in certain nations has slowed national and international transportation, which has had a substantial influence on the supply chains of various sectors throughout the world, increasing the supply–demand mismatch.
As a result of the scarcity of raw materials, mountain bike production would certainly stall, limiting market development. However, as governments around the world continue to relax laws to allow firms to restart operations, the situation is expected to improve.
All Mountain Bike Segment Is Growing to Drive Mountain Bicycle Market Growth
The all mountain bicycle category is expected to grow significantly during the forecast period as customers, particularly millennials, continue to prefer mountain riding as a form of leisure and adventure. In addition, the expansion of the category is likely to be fueled by the construction of new mountain biking circuits, as well as increased media coverage of such events.
Specialty Bicycle Retailers Is To Expected To Gain largest Share Followed By Full-Line Sporting Goods Store.
In 2021, the offline distribution channel sector accounted for almost 50.0 percent of total revenue. The huge market share may be linked to the fact that a big percentage of consumers prefer to buy via offline channels/stores since test-drive alternatives are available. Offline businesses also provide personalized/customized purchasing options, allowing customers to select their own bicycle designs and colours. Furthermore, it enables clients to obtain the goods immediately. Furthermore, in the next years, the availability of numerous branded bicycles at local supermarkets or other retailers is likely to boost demand for this channel.
Leisure Has Bagged The Largest Revenue In The Application Segment For Mountain Bicycle Market.
The consumers preferences are changing and more customers are opting mountain bicycle for leisure this has been propelled by factors such as health benefits, doctors & health professionals advice cycling as the best cardiovascular exercise which helps the customer to be healthy and fit, the bicycle industry is also improving over the technology used in shock absorbers & adding technology like GPS & specialised apps which can track the road and health vitals for better visibility to health professionals and in result avoid serious illness before it comes into their way.
North America Region Followed By Europe Is Dominating The Mountain Bicycle Market.
Because of the extensive advertising of mountain bikes on a large scale within the area, North America dominates the market. Because of the increase in consumer spending power on sports utilities in the area, Asia-Pacific is predicted to develop rapidly over the projection period of 2022 to 2029. The Middle East and Africa are anticipated to grow slowly, with the United Arab Emirates' ands Saudi Arabia's economies leading the way.
One of the primary factors fueling the growth of the mountain bicycle market is the growing popularity of cycling sports triathletes throughout the world.
Over the forecast period of 2022 to 2029, the mountain bicycle market is estimated to grow at a CAGR of 5.60 percent. By 2029, it is predicted to reach USD 6.10 billion.
Mountain bikes are bicycles built for off-roading and high-performance riding. Mountain bikes are tough and can handle rugged terrain and mountainous areas with ease. Suspension systems are found on both the front and back ends of mountain bikes. The suspension system must be built of a long-lasting, high-quality material that can sustain a high number of repeated actions as well as severe shocks and loads. Disc brakes are commonly used on mountain bikes, and they are fitted on both wheels. These brakes are more strong and provide immediate braking.
Bicycle manufacturers have been forced to build more robust and strong bikes as a result of an increase in accidents during bike riding contests. Mountain bikes are utilised in hilly areas and rugged terrain. As a result of the rising demand for more strong and durable bikes, the global mountain bike market is expected to expand in the near future.
Mountain bike demand has surged as a result of greater competitiveness. Mountain bike competitions allow participants to earn money while also increasing market demand. As a result, increased competition promotes both the country's economic development and the future expansion of the mountain bike sector.
A mountain bike is a type of bicycle that is meant to be used off-road. These bicycles are designed to increase the rider's resilience and performance over difficult terrain. These mountain bikes include front or full suspension, lower gear ratios, wide knobby tyres, durable wheels, and more powerful brakes to help them climb steep grades. The development in interest in riding bicycles as a sustainable method of transportation in urban areas, as well as increased worries about on-road bike accidents throughout the world, has accelerated market expansion.
The expansion of the worldwide mountain bike market is hampered by single-use bikes, poor riding abilities, and high maintenance costs.
Furthermore, manufacturers' clever strategic marketing operations, rising e-commerce sales channels, people's increasing disposable income, and the growth in the prevalence of health-related disorders all have a beneficial impact on the mountain bicycle industry. Furthermore, in the projection period of 2022 to 2029, rising fuel costs and environmental concerns provide profitable prospects for market participants. On the other side, the high cost of mountain bicycles and a general lack of understanding about the characteristics and applications of mountain bikes are projected to stymie market growth. The unavailability of mountain bikes in growing areas is likely to be a hurdle to the mountain bike market during the forecast period of 2022-2029.
Key players such as Cannondale Bicycle Corporation, Trek Bicycle Corporation, Diamondback Bicycles, Giant Manufacturing Co. Ltd, XDS Bikes, Rocky Mountain Bicycles Scott Sports SA, CUBE Bikes, Trinx Bikes, Pivot Cycles, Xidesheng Bicycle Company, and others. These companies' main growth strategies include expansion, new product development, and cooperation in order to improve their product range and geographical presence to address the rising demand for Mountain Bicycle from emerging nations.
Latest Innovation in the Global Mountain Bicycle Market: A snapshot
- Cannondale Bicycle Corporation's new SuperSix Evo bike was named Bike of the Year for 2020. Traditional mountain bike forks have two legs, with the spring (air or coil) on the left and the damper on the right controlling how the spring behaves.
- ULC Ultra Light Carbon - XDS Frame Technology, XDS has made ultra-light bicycle technology a priority. We specialise in ultra-light carbon-fiber bicycle frames, forks, components, and accessories. The use of T700 or higher ultra-light carbon fibre in the construction of our ULC frames ensures outstanding performance. Total performance of the frame and strike a balance between its weight, stiffness, and intensity thanks to our innovative dual mould and moulding monocoque technology.
Mountain Bicycles Market Scope
|Revenue forecast in 2028
|USD 6.10 billion.
|CAGR of 5.60% during 2021-2028
|Type, Distribution Channel, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and South Africa
|Key Players Profiled
|Cannondale Bicycle Corporation, Trek Bicycle Corporation, Diamondback Bicycles, Giant Manufacturing Co. Ltd, XDS Bikes, Rocky Mountain Bicycles Scott Sports SA, CUBE Bikes, Trinx Bikes, Pivot Cycles, Xidesheng Bicycle Company & among others.
Key Segments of the Global Mountain Bicycle Market
Type Overview, 2022-2029 (USD Billion)
- Cross Country Bikes
- Dirt Jumping Bikes
- Downhill Bikes
- All Mountain Bikes
- Freeride Bikes
Distribution Channel Overview, 2022-2029 (USD Billion)
- Mass Merchants
- Outdoor Specialty Store
- Specialty Bicycle Retailers
- Full-Line Sporting Goods Store
Application Overview, 2022-2029 (USD Billion)
Regional Overview, 2022-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa