A mountain bike/ mountain bicycle is specially designed for activities such as off-roading and high-performance cycling hence it is extremely durable and can perform in rough terrains and mountainous regions. Mountain biking is a legitimate and popular sport especially in the developed regions of North America and Europe.
Every year a number of mountain biking competitions are organized in these regions, offering a variety of other mountain biking activities such as cross-country, free-ride, dirt jumping, and downhill. Moreover, owing to the governmental initiatives that provide added prominence to this sport is increasing the mountain biking activities in these regions at the rapid pace. Resultantly, mountain bike market is growing pervasively on the global platform, witnessing increasing sales.
Acknowledging the growing popularity of the sport which is escalating the mountain bike market to garner huge accruals, Market Research Future (MRFR) in its recently published study report asserts that the global mountain bike market will garner an exponential value by 2023 registering approx. 10% CAGR between 2017 and 2023.
Evidently, efforts of the fervent manufacturers are the main driving force supporting the flourishing market growth. These manufacturers invest heavily into R&D activities to design new bikes as well as to develop new technologies. This, in turn, pays off well, bringing about novelties in the product and making the bikes further better. Consumers always like to buy bettered versions of bikes. Resultantly, the market size increases constantly.
Another driving force for the market growth is improving economic conditions worldwide which are improving consumers’ purchasing power, enhancing the quality of life. Also, the mountain biking competitions support the economic development of a country organizing them, leading to the growth of the mountain biking tourism.
Rising awareness among people towards the benefits of fitness related activities is leading people to pursue endurance sports which in turn, is fostering the market growth of mountain bikes at a great deal.
Global Mountain Bike Market - Segmentation
The global mountain bike market is segmented into three key dynamics for an easy grasp and enhanced understanding.
By Types : Comprises - Cross Country Bikes, All Mountain Bikes, Downhill Bikes, Free-ride Bikes, and Dirt Jumping Bikes among others.
By Applications/ Usages : Racing, and Leisure among others.
By Regions : North America, Europe, APAC and Rest-of-the-World (RoW).
Global Mountain Bike Market - Regional Analysis
North-America dominates the global mountain bike market with the largest market share due to the popular trend of active and action sports along with the presence of sport enthusiasts and mountaineers. Favourable tax credit frame implemented in the US especially, provides impetus to the market growth in the region.
Besides the US government encourages physical activities for increasing the endurance and the well-being of its citizens. Hence, mountain biking is considered as a legitimate sport, garnering huge popularity. Resultantly, the North-America enjoys a good amount of sales of these bikes.
Global Mountain Bike Market - Competitive Analysis
The Global Mountain Bike market is well-established space witnessing a number of innovations. The market is competitive yet fragmented. The competition in the market is expected to intensify further during the review period. The Key players operating in this market emphasis upon the product innovation and new manufacturing processes which in turn, is anticipated to fuel the already intensified competition during the forecast period. Mountain Bike market demonstrates high growth prospect which is turn, is attracting several new entrants to the market which is apparently anticipated to intensify the market competition.
The Cannondale Bicycle Corporation (US), Giant Manufacturing Co. Ltd. (Taiwan), Pivot Cycles (US), Scott Sports SA (Switzerland), Trek Bicycle Corporation (US) and Trinx Bikes (Taiwan). XDS Bikes (Australia), Xidesheng bicycle company (China), CUBE Bikes (China) and Diamondback Bicycles (US) are some of the prominent players at the forefront of competition in the global mountain bike market. Profiling them in its analysis MRFR explores the strategies keeping them at the front.
July 09, 2018 – FOX Factory, Inc. (US) announced that it is all set to launch FOX Live Valve, FOX's Live Valve automatically adjusting suspension system (electronically controlled suspension dropping) for Euro bikes by August 2018.
July 09, 2018 – Oakley Sports (US) one of the leading global manufacturers of sports products launched its new mountain bike helmet along with a small line of mountain bike apparel. There’s also a new high-tech jersey specially designed for the mountain biking.
June 09, 2018 – Focus Bikes (Germany), a bicycle manufacturer building sports bicycles such as e-bikes, racing bicycles, and mountain bicycles announced that it is all set to launch its two new e-mountain bikes in the US soon. In last September, Focus had unveiled its plan to launch these two bikes in 2018 - The full-suspension JAM² and the hardtail BOLD² are designed around Shimano’s new STePS e8000 platform to provide a natural-feeling electric assist.
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