ID: MRFR/AM/3727-HCR | October 2021 | Region: Global | 100 pages
Mountain Bike Market Overview
Global Mountain Bike Market was valued at USD 7.38 Billion in 2018 and is projected to reach USD 10 Billion by 2027, growing at a CAGR of 3.8% from 2019 to 2026.
A mountain biycle is designed for adventures like off-road cycling. Mountain bikes or Bike are typically ridden on mountain trails, fire roads, single track, and other unpaved surfaces. This terrain usually has rocks, loose dirt, roots, and steep grades. Mountain bikes or Bike are built to handle log rides, log piles, gap jumps, skinnies, and wall-rides terrain and features.
Mountain bikes market are durable and are equipped to perform with enhanced durability in rough terrains and mountainous regions. Mountain bikes consist of a suspension system either on the front or at the rear end. The suspension system has to be made from durable and high-quality material capable of withstanding a high amount of repetitive actions and severe shocks & loads. Mountain bikes often use a set of disc brakes installed on both wheels.
The outbreak of the COVID-19 pandemic has severely impacted the global market for mountain bikes. The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns, and owing to the lockdown implemented by the global governments across various countries, national and international transport has been hampered, significantly impacting the supply chain of numerous industries across the globe, thereby increasing the supply-demand gap. Thus, insufficient raw material supply is expected to hamper the production rate of mountain bikes, which negatively impacts the Mountain Bike arket growth. However, this situation is expected to improve as the government has started relaxing norms worldwide for resuming business activities.
It can be stated that COVID-19 had a slightly positive impact on the e-mountain bike market compared to the negative impact it vastly had on different markets. With the preference for personal mobility that is to rise and the need to overcome traffic congestion, the demand for personal vehicles will rise.
Also, with the growing environmental impact and concerns over rising temperatures due to emissions, the idea of mountain bikes are a great alternative to conventional Bike and motorcycles.
However, COVID-19 set back the industry with zero mobility of people and halted the manufacturing of new e-bikes. Post the arrival of the COVID-19 pandemic, with the recreational activities and health awareness among the consumers, the market is set to a good rise in terms of economy.
The significant factors impacting the growth of the global mountain bike market are increasing accidents in bike riding competitions. The country's economic development is speeding up due to the mountain biking competitions, which have led to the growth of mountain biking tourism. On the other hand, robust technology and a hike in sales of riding bikes will fuel demand in the global mountain bike market. The e-mountain increases as the younger generation show tremendous interest in trekking and recreational activities. However, factors such as government regulations regarding speed and safety issues associated with these bikes are likely to hinder the market's growth. The UCI, the short form of the Union Cycliste Internationale, had adopted strict regulations regarding the electric motors on e-mountain bikes, which must not exceed 250 watts. The presence of pedaling assistance is only permitted to a maximum speed of 25 kph. There is an increasing interest in people toward performance-based adventurous sports, which, in turn, is projected to increase the demand for the mountain bike market during the ongoing forecast period that ends in 2027.
However, only single-use & riding skills and costly maintenance hamper the growth of the global mountain bike market.
In March 2018, Trek Bikes had announced its foray into the Indian market. Trek will offer as many as 34 bicycle models across the road, mountain, and hybrid categories.
Increased accidents have pushed bicycle manufacturers to produce more durable and sturdy bikes during bike riding competitions as mountain bikes are used in rough terrains and mountainous regions. Thus increasing demand for more sturdy and durable bikes will lead to the growth of global mountain bikes shortly. With the increasing competition for mountain bikes, their demand has increased. Mountain bike competitions lead to earning money and increasing the demand for the mountain bike market. Thus increasing competition leads to the country's economic development and leads to the growth of the mountain bikes market shortly.
In December 2020, Pivot took to the international scale and launched its second-generation shuttle e-mountain bike, and the growing public awareness of health and recreational activities will be a huge market opportunity for the industry.
The mountain bike market has been segmented to meet the rising needs of the global target audience and cater to the innovative requirements amid the ongoing forecast period. The global market segments are mentioned as follows:
By the global market applications:
The mountain bike market is led by Europe and followed by North America and Asia-Pacific. Mountain bikes, as a prominent market inclusion are again setting trends in the industry, as there is a great demand for lighter and smaller bikes with more performance. The sale figures of various kinds of bikes in various global regions show that e-bikes are becoming popular among recreational cyclists who prefer to enjoy longer rides without getting exhausted after trekking.
The market for e-mountain bikes in the France region is growing. Some of the major factors driving the market are the rise in e-cargo bikes and e-mountain bikes, increasing traffic, and increasing focus on reducing exhaust emissions.
The mountain bike market has been witnessing the advent of global market competition and also, considers the recent developments undertaken by the following market players:
According to the information circulated by the Swiss Bicycle Suppliers' Association, in 2017, approximately 90,000 e-bikes were snapped up by riders looking for battery-powered assistance. The highest rise was in the eMTB category, with around 29,000 put to use on trails, 38.3% compared to the stats of 2016.
eMTB motor manufacturer - Bosch had surveyed more than 5,421 people in six European countries in mid-2017. As per the survey results, 10% of the participants already owned a pedelec, and the other 16% were looking into buying one in the coming year. The demand trends for mountain bicycling is also growing in the United States. In 2018, the number of participants that is aged six years and above in mountain/non-paved surface biking amounted to approximately 8.69 million.
In February 2018, post a successful debut of the eMTB challenge in 2017, one of the prominent market companies - Robert Bosch again conducted the eMTB challenge this year in five European locations including Italy, Germany, France, Switzerland, and Austria, with the last challenge conducted in France on the 23rd September 2018
Ducati also coped up with the market trends and entered the e-mountain bike market and launched its Ducati MIG-RR electric bicycle, which was created as a partnership between Ducati and Thok E-bikes. The Ducati MIG-RR is considered as an upgrade to Thok's current MIG line of electric mountain bikes. The product’s motor is capable of 70 Nm (51.6 ft-lbs) of torque.
The mountain bike market study presents the global mountain bike market's analytical depiction and current trends and future estimations to determine the imminent investment pockets. The report presents information related to key drivers, restraints, and opportunities and a detailed analysis of the global mountain bike market share. The current market is analyzed from 2020 to 2027 and highlights the global mountain bike market growth scenario. The market report presents porter's five forces analysis illustrates the potency of buyers & suppliers in the market. The report includes the country's economic development is spending due to the mountain biking competitions, which lead to the growth of mountain biking tours, which is the primary factor fueling the global mountain Bike market growth. Increasing accidents during bike riding competitions amid the global market functioning have pushed Bike manufacturers to produce more durable and sturdy bikes, which is expected to propel market growth. The report for the ongoing forecast period that ends in 2027, provides a detailed global mountain bike market analysis depending on competitive intensity and how the competition will take shape in the coming years.
|Market Size||2030 : 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.