ID: MRFR/AM/3727-HCR | October 2021 | Region: Global | 100 pages
The mountain bike is a type of bicycle used for recreation purpose. It is a flexible bike that is suitable for off-road races. The mountain bike is durable transport that survives the toughest of terrain and mountainous surfaces. There are mountain bike models with a suspension system and without a suspension system. The mountain bike is designed in a way to withstand severe friction when riding on steep surfaces. The mountain bikes come with a set of disk brakes.
The large-sturdy tires of the mountain bike are long-lasting. Sports and fitness enthusiasts prefer mountain bikes. The increasing popularity of bike sports is the cause of the surging demand for mountain bikes. Recently the mountain bike market size is developing at an exponential pace. Further, the mountain bike market growth is estimated to be 10% for the forecast year 2023. The rising awareness about eco-friendly transport mediums is significant reasons for the high demand for mountain bikes.
Covid 19 analysis of Mountain Bike Market
Covid 19 continues to affect the supply-demand chain of global industries. Several industries find it difficult to cope with this situation. However, the covid 19 impact on the mountain bike market is indifferent.
While other markets are experiencing a drop in demand, the mountain bike market trend shows substantial growth. During covid 19, the demand for mountain bike is rising. Many individuals are focusing on fitness and health during the pandemic. The mountain bike enables individuals to enjoy numerous sports with social distancing. Therefore, the high demand trend continues till the forecast period of 2023. Also, due to this the mountain bike market Revenue is increasing in the upcoming years.
There are plenty of factors that are responsible for the change in the mountain bike market Outlook. Recently, bike accidents on-road is getting higher. Using a bicycle for everyday commutation is safer and suitable for a healthier lifestyle. Due to this, many customers are inclined to purchase any type of new bicycle. This customer behaviour acts as a demand driving factor for the mountain bike market. Further, there are plenty of developments in the sports industry. Many countries are endorsing bicycle sports that have lead to increased mountain bike demand. The rise in mountain bike competition in Europe is the crucial driving factors of the global market. Also, today many governments are taking initiatives to create awareness about health and fitness. Mountain bike sports are highly active that comes with plenty of health benefits. These awareness programs by the government are causing a surge in the demand for the mountain bike market. Lastly, bicycle marketers are promoting a new variety of mountain bikes on a larger scale. This promotion by the top bicycle company is also a crucial market driver. During the forecast year, many mountain bike drivers will massively increase market demand.
Market growth opportunities
The fuel costs are mounting every day. Many are opting for vehicles that do not require fuel. Also, the increasing fuel cost is changing customer behaviour. Many are interested to purchase bicycles for everyday commutation. This change in customer behaviour and increasing fuel cost provides growth opportunities for the mountain bike industry. The vehicles that require fuel are the major reasons for high carbon emission. Carbon emission is a global issue. Due to this environmental concern, most of the population prefers eco-friendly bicycles. These factors are providing massive growth opportunities for the mountain bike market. Also, awareness of bicycle sports is increasing in the future. It is another exceptional mountain bike growth opportunity.
The market restraints
The cost of the mountain bike is a major restraint for the market. Mountain bike is an expensive form of bicycle. It is mostly suitable for professionals. The key players in the market only target the audience from the sports sector. The inability to meet a wide range of audience from different sectors is a significant market restraint. The lack of awareness about the features and uses of mountain bike among the general audience is the reason for this.
The key players of the mountain bike market find it difficult to reach the audience in undeveloped areas. The number of individuals who enjoys mountain bike riding as a leisure activity is less. The unavailability of mountain bike in these regions poses a challenge to the bicycle market. These factors act as a barrier to the expansion of the mountain bike market.
Cumulative growth analysis
The future of the mountain bike market is dependent on cost-effectiveness. Low cost will attract customers in underdeveloped regions. Also, the expansion of the mountain bike market is essential in the future to experience a steady flow of demand.
The value chain analysis
North America holds the largest mountain bike market Share. The popularity of bicycle sports in North America is the major market drivers’ factors in the region. The mountain bike key players in these regions offer quality and sturdy bikes suitable for professional racing purpose. The mountain biking races and mountain biking tourist adventures increase the demand for it massively.
The seasonal demand for mountain bike is massive in North America. Also, the Asia Pacific and Europe are the second key-contributors to the mountain bike market. Europe is the top country to conduct tons of bicycle races. Most of the countries in Europe support and endorse this sport. In the Asia Pacific, the mountain bike is famous in high terrain and mountainous regions. The trekking spots have mountain bike sport adventure. All these factors ultimately increase the mountain bike market Value in the forecast period.
Mountain Bike Market Segment Overview
Dirt jumping bike
The dirt jumping bike is a popular adventure in North America and Europe. It is a summer sport that is conducted every year in these regions. The competitors ride the mountain bike on muddy surfaces.
Cross country bikes
Cross country bike riding is a famous sport in Europe. The sport requires riding a mountain bike on tough-terrains in the countryside.
Free ride bike
The free ride bike is a sports activity famous in North America and Europe. It is an activity in tourists’ places where the individuals ride the mountain bike in long terrains trials.
The downhill bike race is an adventure activity in Europe, North America and some part of Asia pacific.
Mountain Bike Market Regional analysis
The mountain bike market is divided into North America, Europe and Asia pacific. North America is dominating the global market due to high demand from Canada and the US. The key players in these regions are promoting the mountain bike market on a massive scale. In their well-established market, the key-players are covering a large market demand. The adventure and the sports industry are the major market driving factors for the mountain bike market. Due to health and fitness concerns, the governments are providing massive support to the mountain bike market. Every year the expenditure on the mountain bike manufacturing sector is getting higher to meet the worldwide demand. Europe, the second largest mountain bike market is responsible for 10% in the forecast year 2023. The rise in customer spending power on sports utilities are the major driving factors of the Europe mountain bike market. Therefore, the mountain bike market Analysis during the forecast year shows that the regional players will receive plenty of growth opportunities. It will influence the global market greatly.
The mountain bike competitive landscape is diversified by international players. The key players are investing more in new features and new models in mountain bike. The new-advancements and innovation by the key players are providing future growth opportunities for the global market. The market expansion and new acquisition strategies are under consideration by the key competitors.
The key players of the mountain bike market are
Recent developments in the market
|Market Size||2027: Significant Value|
|CAGR||10% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||CUBE Bikes (China), Cannondale Bicycle Corporation (U.S.), Scott Sports (Switzerland), Xidesheng bicycle company (China), Trinx Bikes (Taiwan), Trek Bicycle Corporation (US.), Giant Manufacturing Co. Ltd. (Taiwan), Diamondback Bicycles (US.),|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The increase in motorbike accident rates is changing customer behaviour to buy bicycles.
The market growth is estimated to be more than 10% during the forecast period.
North America, Asia Pacific, Europe are the regions cultivating the market’s revenue the highest.
North America region is leading the global mountain bike market.
Giant Manufacturing Co. Ltd. (Taiwan), The Cannondale Bicycle Corporation (U.S.), Scott Sports SA (Switzerland), Trek Bicycle Corporation (U.S.), Pivot Cycles (U.S.) are the competitors of the market.
The high demanding regions are North America, Asia Pacific and Europe.
Mountain bikes are primarily designed for bike trails, and won't perform nearly as well when ridden on the road, but you can definitely do it.