The global market for the Mountain Bike is anticipated to develop at a compound annual growth rate (CAGR) of 9.6% throughout the course of the forecast, to reach USD 40.98 billion by 2030.
Factors that have contributed hugely in notable mountain bike market size are growing penchant for outdoor activities and rising tourism coupled with increased disposable income who opt for vacations once or twice a year. There is aggressive promotions and astute strategies of tourist places noted, done by hotel chains and local governments. This, in turn, prove to positively impact the mountain bike market. However, there is potential threat to this market due to the frequent accidents take place while riding on a mountain bike.
North American mountain bike market share stands tallest compared to all other regions as adventure sports is getting higher acknowledgement than ever before. The U.S. and Canada organize different competitions such as freeride, cross-country, downhill and dirt jumping to intake larger number of participants. Not to mention, government initiatives plays commendable role in inspiring netizens to get active participation in such sports.
Another promising region which is expected to showcase an impressive mountain bike market share is APAC. Emerging economies of these regions which are anticipated to exhibit tremendous growth are Australia, Singapore, South Korea, India, Taiwan and China. The market will have noteworthy expansion with world’s most fascinating mountain ranges are situated here which encourage thrill-seekers to reach these mountains and explore with mountain bikes.
North America is one of the dominant regions to widen global mountain bike market size. As mountain biking is gaining high momentum as one of the off-road sports in this region. Due to higher number of kids and women entrant in this sport, it has shifted from being male dominant to a leisure activity pursued by both children as well as women. At present, there is higher safety measurements along with fitness, environmental and ethics protection which has boosted this market.
“Several cyclist organizations such as League of American Wheelman, IMBA, and Bike Centennial have initiated plans and projects to encourage more individuals to enter the sport. IMBA Canada, which is a subsidiary of the IMBA, aims at trail building expertise, convenient access to appealing trails, and political influence to increase the number of mountain riders in the local region,” expressed a lead automotive manufacturing research expert.
Based on type, the global mountain bike market includes All Mountain Bikes, Dirt Jumping Bikes, Freeride Bikes, Downhill Bikes, Cross Country Bikes and Others. The most popular and widely sold ones are cross country bikes. These bikes are made to drive through natural trails and vast forests. Free riding bikes are anticipated to accomplish multiple trails and hence, identical to cross country bikes.
Leading players that operate global mountain bike market are Giant Manufacturing Co. Ltd. (Taiwan), The Cannondale Bicycle Corporation (U.S.), Scott Sports SA (Switzerland), Pivot Cycles (U.S.), Trek Bicycle Corporation (U.S.) and Trinx Bikes (Taiwan). CUBE Bikes (China), Xidesheng bicycle company (China), XDS Bikes (Australia), and Diamondback Bicycles (U.S.) are among others.
Mountain Bike Market Scope
|Revenue forecast in 2030
|USD 40.98 billion
|CAGR of 9.6 % during 2020-2030
|By Speed, By Battery Type, Region
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Accell Group, Derby Cycle, Fuji-ta Bicycle Co. Ltd., Giant Manufacturing Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation, Yamaha Motor Co. Ltd.
Key segments of ‘Global Mountain Bike Market’
Based on applications, the market has been segmented into,
Based on type, the market has been segmented into,
- Cross Country Bikes
- All Mountain Bikes
- Freeride Bikes
- Downhill Bikes
- Dirt Jumping Bikes
Based on region, the market has been segmented into,
- North America
- The U.S.A.
- South Korea
- Rest of the world