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The mountain bike market is estimated to grow at a CAGR of 5.4% and the size of the market is forecast to increase by USD 13,540.97 million between 2022 and 2027. The growth of the market depends on several factors, including the rising demand from the oil and gas industry, the increasing number of applications in food and beverages, and advancements in carbon capturing and storage technologies.
This report extensively covers end-user (leisure and competition), type (cross-country bikes, all mountain bikes, downhill bikes, freeride bikes, and dirt jumping bikes), and geography (APAC, North America, Europe, Middle East, Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
Innovative features and user interfaces are notably driving the mountain bike market growth, although factors such as the growing number of accidents, crashes, and related injuries may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
Key Mountain Bike Market Driver
Mountain biking tourism, which acts as a catalyst for economic development is a key factor driving the market. Mountain biking primarily focuses on off-road travel, where bikers ride on gravel, dirt roads, and uneven terrains to reach their destination. This is an environment-friendly industry that offers healthy recreation and a non-polluting sustainable mode of transport for riders. Mountain biking tourism helps to bring in revenue for the host community and region. People travel to various destinations around the world to experience mountain biking. The sport has a positive impact on local businesses and is a source of revenue generation for many countries, besides having a minimal impact on the environment.
The increase in the number of tourists helps in generating jobs and income, such as providing accommodation, food, leisure activities, local tourist guides, travel guides, and bike rentals. In addition, the efforts made by local governments to maintain tourist areas are attracting people. Various other projects, such as opening new trails; developing beginner-level trails for kids; and development of advanced trails for various purposes, such as free rides, downhill trails, pump tracks, and jump parks, act as a catalyst for the growth of the global mountain bike market during the forecast period.
Key Mountain Bike Market Trend
The development of electric mountain bikes will fuel the global mountain bicycle market growth. Continuous advances in mountain bikes in terms of design and technology have led to the development of electric mountain bikes. Electric mountain bikes help riders to amplify their pedaling power, which makes mountain biking less exhausting for them. It also helps compensate for the differences in performance as stronger riders can choose a lower level of engine support or can switch off the engine. In the case of uphill riding, riders can choose a higher level of support from the engine to amplify the riding experience. Mountain bikes open up new sporting opportunities by aiding the riders to tackle new requirement profiles and different hardness levels, as electric bikes help in easing the ride. Even though electric mountain bikes help enhance the experience of the rider, they are heavier than conventional mountain bikes, thereby making it difficult for the riders to manage the bike for long rides. Thus, technological advancements such as the development of electric mountain bikes will spur the growth of the global mountain bike market during the forecast period.
Key Mountain Bike Market Challenge
An increase in the number of accidents and crashes and related injuries is the major challenge to the global mountain bicycle market growth. Mountain biking is a popular and exciting off-road adventure sport, which is witnessing an increase in the number of participants and competitions. During the ride, the riders travel through uneven terrain and are highly vulnerable to danger as they are unaware of surface irregularities on the trail. Although various companies have developed safety equipment to enhance the safety of the bikers, they are still prone to both minor and major accidents as they are unaware of the terrain ahead. The riders are also prone to accidents because of natural phenomena such as sudden changes in the weather and lack of sunlight, which may result in serious fatalities and injuries. These high risks associated with the sport are negatively affecting the mountain bike market. This factor restricts enthusiasts from exploring new trails and new mountain areas, which, in turn, can affect mountain biking tourism and the revenue generated by mountain biking tourism. Such factors will hamper the demand for mountain bikes, which, in turn, will impede the growth of the global mountain bike market during the forecast period.
Key Mountain Bike Market Customer Landscape
Our analysis of the Life Cycle of the Global mountain bike market from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the global mountain bicycles market, focusing on the adoption rates of the major regions such as the US, China, Germany, the UK, and France. Our researchers have included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies for 2022-2027.
Global Mountain Bike Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
Altacycling - The company operates under multiple product and service segments. Its key offering include bikes for mountain and road riding. It also offers parts and accessories such as starter kits, seats, pedals, tires, helmets, shoes, apparel, and many other products.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, such as
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The leisure segment shows significant growth during the forecast period. The global market for leisure is expected to grow at a steady pace during the forecast period because the sport is gaining popularity in both developed and developing economies. The other factors promoting biking tourism are an increase in disposable income, changes in the lifestyle of the individuals, and events and races held by various associations, which are expected to boost the growth of the market. The shift in trend from being a male dominant sport to a family sport will contribute significantly to the growing market for mountain bikes.
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The changes in lifestyle and increase in disposable income have led to an increase in revenue from mountain biking tourism. For instance, various government bodies in Australia are promoting mountain biking tourism because it provides opportunities for establishing new business units in this region, which helps in creating balanced growth in the market. Also, the increasing awareness of the health benefits of cycling will further increase the demand for mountain bikes. Thus, all the factors mentioned above will boost the growth of the global mountain bicycle market through the leisure segment during the forecast period. Furthermore, our report provides a brief analysis of historical and forecast market share and their segment along with their reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of mountain bikes by residential consumers, which is driven by changing lifestyles and a growing preference for comfort.
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North America is projected to account for 34% of the global market share growth by 2027. We have covered key regions such as North America, Europe, APAC, South America, and the Middle East and Africa that will experience significant growth during the forecast period. North America is projected to grow by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Mountain biking is one of the favored off-road sports, which is gaining popularity across North America. Cross-country biking is gaining popularity in this region as the number of women and kids entering this sport is increasing steadily. This sport is shifting from a male dominant sport to a leisure activity pursued by women and children as the awareness regarding safety, fitness, ethics, and environmental protection is increasing. Canada has some of the best mountain biking trails in the world. There is a wide range of trails for both beginners and professionals across the country. The most prominent trails in Canada are in British Columbia, Alberta, Quebec, and Ontario. Tourism Association helps in bringing together communities, resorts, and industry operators in British Columbia to improve the overall mountain biking experience in the region. It also aims at pooling resources to make mountain biking accessible and sustainable. Thus, rising disposable income, increasing interest in mountain bike events, and the launch of technologically advanced mountain bikes will spur the growth of the regional mountain bike market during the forecast period.
However, the outbreak of COVID-19 in 2020 slowed down the growth of the mountain bike market in North America. Disruptions in the supply chain for mountain bikes and stay-at-home policies declined the demand for mountain bikes in North America. But, with mass vaccination drives and a revival in the tourism industry, the market in focus started to recover in 2021.
Technavio categorizes the global mountain bike market as a part of the global leisure products industry within the global household durables market. The parent market, the global leisure products market, covers a variety of categories, including sports mountain bike equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Our report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2028. We have segmented the market based on type, product, distribution channel, and region.
Mountain Bike Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.4% |
Market growth 2023-2027 |
USD 13540.97 million |
Market structure |
Fragmented |
YoY growth (%) |
5.1 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 34% |
Key consumer countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Alta Cycling Group, BH BIKES EUROPE SL, Dorel Industries Inc., Fuji Bikes, Giant Manufacturing Co. Ltd., Grimaldi Industri AB, Guangzhou Trinity Cycles Co. Ltd., Kona Bicycle Co., LAPIERRE SA, Marin Mountain Bikes Inc., Merida Industry Co. Ltd., Norco Bicycles, Pending System GmbH & Co. KG, Pivot Cycles EU GmbH, Pon Holdings BV, Rocky Mountain Bicycles, Santa Cruz Bicycles LLC, Trek Bicycle Corp., XDS Bike Co., and Youngone Corp. |
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, and 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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