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The mountain biking equipment market share is expected to increase by USD 3.99 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.60%.
This mountain biking equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers mountain biking equipment market segmentation by product (protective gears and mountain biking tools) and geography (North America, Europe, APAC, South America, and MEA). The mountain biking equipment market report also offers information on several market vendors, including Active Brands AS, Endura Ltd., EssilorLuxottica, Fox Racing Inc., Giant Manufacturing Co. Ltd., Safilo Group Spa, SCOTT Sports SA, Shimano Inc., Troy Lee Designs Inc., and Vista Outdoor Inc. among others.
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The rising number of mountain bicycle clubs and events is notably driving the mountain biking equipment market growth, although factors such as risk management may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the mountain biking equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Mountain Biking Equipment Market Driver
One of the key factors driving the global mountain biking equipment market growth is the rising number of mountain bicycle clubs and events. Globally, there are 2,105 such groups with 1,074,892 members in 920 cities across 50 countries. Some of the largest meetups by sports bicycle groups and clubs are Hudson Valley Hikers and the Chicago Hiking Outdoors in the US, the Vancouver Hiking Meetup Group in Canada, and the Trailblazer in the UK, among many others. There has been a significant rise in the number of mountain biking events across the globe such as the Argus Mountain Bike (MTB) Challenge and the eight-day Absa Cape Epic race. In 2021, the organizers of the MTB challenge announced plans to limit the number of participants in the future to improve the quality of the race. The Nedbank Sani2c, with more than 4,000 participants, is one of the largest MTB races in the world. Such events will boost the demand for biking equipment, which will drive the growth of the market in focus during the forecast period.
Key Mountain Biking Equipment Market Challenge
One of the key challenges to the global mountain biking equipment market growth is the risk management on biking trails to minimize threats and losses from lawsuits. There are currently no international standards for mountain biking trail design. Thus, it is important to get an operator or public entity that is familiar with the requirements of mountain biking to plan and design a trail. For instance, the US Forest Service, the International Mountain Bicycling Association (IMBA), and the Forest Commission of Great Britain all offer publications related to mountain biking trail design and construction requisites. Furthermore, efficient management and maintenance of mountain biking trails is another challenge. Many lawsuits are a result of improper maintenance, hence making this one of the most important aspects of risk management. Such factors are expected to negatively impact the market growth during the forecast period.
This mountain biking equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the mountain biking equipment market encompasses successful business strategies deployed by the key vendors. The mountain biking equipment market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions and product innovations to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The mountain biking equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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40% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for mountain biking equipment in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.
The significant increase in outdoor recreational activities among the youth, especially those in the age group of 15-24 years, and the rise in consumer preference for mountain biking will facilitate the mountain biking equipment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The mountain biking equipment market share growth by the protective gears segment will be significant during the forecast period. The growth is attributed to the significant increase in the demand for mountain bike protective gear owing to the rise in the participation rates in mountain biking. The influx of value-added and innovative mountain biking equipment will have a significant and positive impact on the growth of the market segment in the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the mountain biking equipment market size and actionable market insights on post COVID-19 impact on each segment.
Mountain Bike market - The expected market share growth from 2022 to 2027 is USD 13540.97 million for the mountain bike market, and it is estimated to grow at a CAGR of 5.4%
Mountain Warfare market - The market share is expected to increase by USD 1.76 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.45%.
Mountain Biking Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.60% |
Market growth 2022-2026 |
$ 3.99 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.34 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, Canada, China, UK, and Australia |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Active Brands AS, Endura Ltd., EssilorLuxottica, Fox Racing Inc., Giant Manufacturing Co. Ltd., Safilo Group Spa, SCOTT Sports SA, Shimano Inc., Troy Lee Designs Inc., and Vista Outdoor Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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