Polyester Tire Cord Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Published: Jun 2022 Pages: 137 SKU: IRTNTR73522

The polyester tire cord market share is expected to increase to USD 623.92 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.16%.

This polyester tire cord 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 polyester tire cord market segmentation by application (automotive, construction, two-wheelers, agriculture, and aerospace) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The polyester tire cord market report also offers information on several market vendors, including Asahi Kasei Corp., BIKAWA Enterprise Sdn Bhd, Century Enka Ltd., COLMANT COATED FABRICS, Far Eastern Group, Firestone Fibers and Textiles Company LLC, Formosa Taffeta Co. Ltd., HANOI INDUSTRIAL TEXTILE JSC, Hyosung Corp., Indorama Ventures Public Co. Ltd., Kolon Industries Inc., KORDARNA Plus AS, Kordsa Teknik Tekstil AS, Madura Industrial Textiles Ltd., Qingdao HL Group Ltd., Shenma Industrial Co. Ltd., SRF Ltd., Star Polymers Inc., Teijin Ltd., and Toray Industries Inc. among others.

What will the Polyester Tire Cord Market Size be During the Forecast Period?

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Polyester Tire Cord Market: Key Drivers, Trends, and Challenges

The rising adoption of polyester tire cords for passenger cars is notably driving the polyester tire cord market growth, although factors such as presence of substitutes may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polyester tire cord industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Polyester Tire Cord Market Driver

  • One of the key factors driving the global polyester tire cord market growth is the rising adoption of polyester tire cords for passenger cars.
  • Polyester tire cords are preferred widely in radial tires of passenger vehicles.
  • The cords provide excellent properties such as heat resistance, controllability, and high-dimensional stability, among others.
  • Polyester tire cord is a prominent material widely used in the automotive industry due to its high strength and excellent mechanical compatibility in absorbing weight under extreme conditions.
  • The benefits of polyester tire cords are projected to boost their demand during the forecast period. 

Key Polyester Tire Cord Market Trend

  • Increasing demand for and sales of electric vehicles globally is one of the key polyester tire cord market trends that is expected to impact the industry positively in the forecast period.
  • The sales of EVs recorded significant growth in 2021 globally, especially in China, the US, and a few countries in Europe.
  • In 2021, the global deliveries of EVs surpassed 7 million units.
  • Chinese manufacturers of all EVs, such as BYD Company and Beijing Automotive Group Co., Ltd. are witnessing increased demand for EVs, leading to significant growth in sales volumes.
  • In Europe, countries such as Norway, the Netherlands, Germany, Iceland, and Poland dominated the regional sales in 2021.
  • In North America, the US contributed to significant sales of electric cars during the base year.
  • The increase in EV sales has increased the demand for lightweight EV tires, which reduce vehicle torque. Hence, polyester tire cords will be in high demand during the forecast period.

Key Polyester Tire Cord Market Challenge

  • One of the key challenges to the global polyester tire cord market growth is the presence of substitutes.
  • Automotive vehicles are made of many different types of materials such as steel, nylon, polyester, rayon, and aramid fibers.
  • Nylon tire cords are widely used in the production of high wear resistance tires required for commercial applications such as aircraft tires, agricultural tires, and truck tires.
  • Nylon tire cord has many qualities such as superior fatigue resistance, high tenacity, and improved adhesion, which are the primary factors driving their demand.
  • Manufacturers also use aramid fibers to produce extremely lightweight and wear-resistant tires specific for the electric vehicles (EVs) industry. However, their wide-ranging applications in the production of passenger car tires are owing to their low shrinkage, high strength, and low-cost property.
  • The presence of many substitutes will hinder the growth of the global polyester tire cord market during the forecast period.

This polyester tire cord 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.

Parent Market Analysis

Technavio categorizes the global polyester tire cords market as a part of the global tires and rubber market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polyester tire cord market during the forecast period.

Who are the Major Polyester Tire Cord Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Asahi Kasei Corp.
  • BIKAWA Enterprise Sdn Bhd
  • Century Enka Ltd.
  • COLMANT COATED FABRICS
  • Far Eastern Group
  • Firestone Fibers and Textiles Company LLC
  • Formosa Taffeta Co. Ltd.
  • HANOI INDUSTRIAL TEXTILE JSC
  • Hyosung Corp.
  • Indorama Ventures Public Co. Ltd.
  • Kolon Industries Inc.
  • KORDARNA Plus AS
  • Kordsa Teknik Tekstil AS
  • Madura Industrial Textiles Ltd.
  • Qingdao HL Group Ltd.
  • Shenma Industrial Co. Ltd.
  • SRF Ltd.
  • Star Polymers Inc.
  • Teijin Ltd.
  • Toray Industries Inc.

 

This statistical study of the polyester tire cord market encompasses successful business strategies deployed by the key vendors. The polyester tire cord market is fragmented and the vendors are deploying growth strategies such as investments in R&D to compete in the market.

Product Insights and News

  • Asahi Kasei Corp. - The company offer Leona nylon 66 filament featuring exceptional strength, heat resistance, and durability which is used for making tire cord to give better handling of vehicle tires during the running condition.
  • Asahi Kasei Corp. - The material sector segment comprises basic materials, performance products, specialty solutions, and electronics.

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 polyester tire cord 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.

Polyester Tire Cord Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the polyester tire cord market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Polyester Tire Cord Market?

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68% of the market's growth will originate from APAC during the forecast period. China, Thailand, and Japan are the key markets for polyester tire cords in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The high-volume sales of hybrid passenger vehicles in countries such as India and China will facilitate the polyester tire cord market growth in APAC 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.

COVID Impact and Recovery Analysis

The COVID-19 pandemic led to a temporary shutdown of the automotive industry in several APAC countries, which led to a decline in the production of tires and related products, including polyester tire cords, in 2020. However, in 2021, the automotive market in APAC started to recover, with a decline in the number of COVID-19 cases and the lifting of lockdown restrictions. Thus, the recovery of the automotive market in APAC will drive the regional market during the forecast period.

What are the Revenue-generating Application Segments in the Polyester Tire Cord Market?

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The polyester tire cord market share growth by the automotive segment will be significant during the forecast period. The rise in the demand for automobiles will lead to an increase in the demand for tires which, in turn, will drive the global demand for polyester tire cords in the forecast years. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the polyester tire cord market size and actionable market insights on post COVID-19 impact on each segment.

 

Polyester Tire Cord Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.16%

Market growth 2022-2026

$ 623.92 million

Market structure

Fragmented

YoY growth (%)

4.08

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 68%

Key consumer countries

US, China, Thailand, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Asahi Kasei Corp., BIKAWA Enterprise Sdn Bhd, Century Enka Ltd., COLMANT COATED FABRICS, Far Eastern Group, Firestone Fibers and Textiles Company LLC, Formosa Taffeta Co. Ltd., HANOI INDUSTRIAL TEXTILE JSC, Hyosung Corp., Indorama Ventures Public Co. Ltd., Kolon Industries Inc., KORDARNA Plus AS, Kordsa Teknik Tekstil AS, Madura Industrial Textiles Ltd., Qingdao HL Group Ltd., Shenma Industrial Co. Ltd., SRF Ltd., Star Polymers Inc., Teijin Ltd., and Toray Industries 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 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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What are the Key Data Covered in this Polyester Tire Cord Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive polyester tire cord market growth during the next five years
  • Precise estimation of the polyester tire cord market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the polyester tire cord industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of polyester tire cord market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Automotive - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Automotive - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Automotive - Year-over-year growth 2021-2026 (%)
    • 5.4 Construction - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Construction - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Construction - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Construction - Year-over-year growth 2021-2026 (%)
    • 5.5 Two wheelers - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Two wheelers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Two wheelers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Two wheelers - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Two wheelers - Year-over-year growth 2021-2026 (%)
    • 5.6 Agriculture - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Agriculture - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Agriculture - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Agriculture - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Agriculture - Year-over-year growth 2021-2026 (%)
    • 5.7 Aerospace - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Aerospace - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Data Table on Aerospace - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Chart on Aerospace - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Aerospace - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Application
      • Exhibit 48: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Thailand - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Thailand - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Thailand - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Thailand - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Thailand - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 90: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 94: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 97: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 98: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 99: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 100: Matrix on vendor position and classification
            • 10.3 Asahi Kasei Corp.
              • Exhibit 101: Asahi Kasei Corp. - Overview
              • Exhibit 102: Asahi Kasei Corp. - Business segments
              • Exhibit 103: Asahi Kasei Corp. - Key news
              • Exhibit 104: Asahi Kasei Corp. - Key offerings
              • Exhibit 105: Asahi Kasei Corp. - Segment focus
            • 10.4 Century Enka Ltd.
              • Exhibit 106: Century Enka Ltd. - Overview
              • Exhibit 107: Century Enka Ltd. - Product / Service
              • Exhibit 108: Century Enka Ltd. - Key offerings
            • 10.5 Hyosung Corp.
              • Exhibit 109: Hyosung Corp. - Overview
              • Exhibit 110: Hyosung Corp. - Product / Service
              • Exhibit 111: Hyosung Corp. - Key news
              • Exhibit 112: Hyosung Corp. - Key offerings
            • 10.6 Indorama Ventures Public Co. Ltd.
              • Exhibit 113: Indorama Ventures Public Co. Ltd. - Overview
              • Exhibit 114: Indorama Ventures Public Co. Ltd. - Business segments
              • Exhibit 115: Indorama Ventures Public Co. Ltd. - Key offerings
              • Exhibit 116: Indorama Ventures Public Co. Ltd. - Segment focus
            • 10.7 Kolon Industries Inc.
              • Exhibit 117: Kolon Industries Inc. - Overview
              • Exhibit 118: Kolon Industries Inc. - Product / Service
              • Exhibit 119: Kolon Industries Inc. - Key offerings
            • 10.8 Kordsa Teknik Tekstil AS
              • Exhibit 120: Kordsa Teknik Tekstil AS - Overview
              • Exhibit 121: Kordsa Teknik Tekstil AS - Business segments
              • Exhibit 122: Kordsa Teknik Tekstil AS - Key news
              • Exhibit 123: Kordsa Teknik Tekstil AS - Key offerings
              • Exhibit 124: Kordsa Teknik Tekstil AS - Segment focus
            • 10.9 Shenma Industrial Co. Ltd.
              • Exhibit 125: Shenma Industrial Co. Ltd. - Overview
              • Exhibit 126: Shenma Industrial Co. Ltd. - Product / Service
              • Exhibit 127: Shenma Industrial Co. Ltd. - Key offerings
            • 10.10 SRF Ltd.
              • Exhibit 128: SRF Ltd. - Overview
              • Exhibit 129: SRF Ltd. - Business segments
              • Exhibit 130: SRF Ltd. - Key offerings
              • Exhibit 131: SRF Ltd. - Segment focus
            • 10.11 Teijin Ltd.
              • Exhibit 132: Teijin Ltd. - Overview
              • Exhibit 133: Teijin Ltd. - Business segments
              • Exhibit 134: Teijin Ltd. - Key offerings
              • Exhibit 135: Teijin Ltd. - Segment focus
            • 10.12 Toray Industries Inc.
              • Exhibit 136: Toray Industries Inc. - Overview
              • Exhibit 137: Toray Industries Inc. - Business segments
              • Exhibit 138: Toray Industries Inc. - Key news
              • Exhibit 139: Toray Industries Inc. - Key offerings
              • Exhibit 140: Toray Industries Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 141: Inclusions checklist
                • Exhibit 142: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 143: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 144: Research methodology
                • Exhibit 145: Validation techniques employed for market sizing
                • Exhibit 146: Information sources
              • 11.5 List of abbreviations
                • Exhibit 147: List of abbreviations
              • bicycle market due to changes in market dynamics: Increase in urbanization, rising disposable income, increased traffic and congestion, rising health consciousness and environmental concerns, and a significant increase in the fuel prices have driven the change in preference toward transportation mode among the people for a short-distance commute. In the past few years, fuel prices have increased significantly, which is expected to fluctuate, resulting in customers shifting their preferences to bicycles as a convenient mode of commute. Additionally, with the continuous rise in fuel prices, the demand for battery-powered bicycles and mountain bicycles has increased. Mountain bicycles are equipped with gears and suspension, which help in managing speeds better and make them easier to ride through mountain areas, overpasses, and rough roads.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                INFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases

                DATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts

                REPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape

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                Key Questions Answered

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                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?

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