Technavio: Mountain Bike Market to Grow from 2022 to 2027
The mountain bike market is estimated to grow by USD 13,540.97 million from 2022 to 2027. The growth momentum will progress at a CAGR of 5.4% during the forecast period. The market is segmented by 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). The market share growth of the leisure segment is significant for the mountain bike market growth during the forecast period.
The market for leisure is expected to grow at a steady pace during the forecast period. This is because the sport is gaining popularity in both developed and developing economies. Other factors such as an increase in disposable income, changes in the lifestyle of the individuals, and events and races held by various associations are expected to boost the growth of the market. Mountain biking tourism acts as a catalyst for economic development.
This is a key factor driving the market. Mountain biking primarily includes off-road travel, where bikers ride on gravel, dirt roads, and uneven terrains to reach their destination. It is environment-friendly, a healthy recreational activity, and a non-polluting sustainable mode of transport.
Mountain biking tourism also helps bring in revenue for the host community and region. Discover some insights on market size historic period (2017 to 2021) and Forecast market data (2023-2027) before buying the full report - Request a sample report
Technavio has announced its latest market research report titled Global Mountain Bike Market 2023-2027
Mountain Bike Market Insights
- Vendors: 15+, Including 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 and 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. among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
To understand more about the mountain bike market, request a sample report
Mountain bike market - Vendor Insights
The mountain bike market is fragmented owing to the presence of a large number of global and regional vendors. Active vendors in the market offer competitive products available through both physical stores and online platforms. The competitive environment in the market is likely to intensify further due to an increase in product/service extensions and technological innovations.
Mountain Bike Market – Market Dynamics
Major Trends -
The development of electric mountain bikes fuels the global mountain bike market growth. The growth is due to factors such as the advances in mountain bikes in terms of design and technology. Electric mountain bikes help riders amplify their pedaling power. This makes mountain biking less exhausting and 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 case of uphill riding, riders can choose a higher level of support from the engine to amplify the riding experience. Therefore, 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 challenges -
The rise 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 off-road adventure sport. It is witnessing an increase in the number of participants and competitions. Riders travel through uneven terrain and are highly vulnerable to danger, as they are unaware of surface irregularities on the trail during the ride. Though various companies have developed safety equipment to enhance safety, bikers are still prone to both minor and major accidents, as they are unaware of the terrain ahead. Hence, factors such as accidents and crashes will impede the growth of the global mountain bike market during the forecast period.
