Bicycle Tires Market - Global Industry Analysis

Global Bicycle Tires Market: Overview

A bicycle or a cycle is a human-powered, pedal-driven vehicle used for transportation, utility cycling, and bicycle commuting. They can also be used for recreational purposes including physical fitness, bicycle touring, play, and mountain biking. A bicycle tire is usually a tire that fits into the bicycle or a similar vehicle such as handcycles & wheelchair and provides suspension to the vehicle.

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Global Bicycle Tires Market: Growth Factors

The global bicycle tires market is growing at a significant rate. Factors such as a frequent hike in fuel prices, rise in adoption of bicycles across several countries, and growing concerns of air pollution are the key aspects that have led to a rise in the use of bicycles and thereby augmenting the growth of the global bicycle tires market. Cycling is a low-impact, good muscle workout, good for strength & stamina, time-efficient, and a fun way to be fit. In addition to this, regular cycling increases cardiovascular fitness, increases muscle strength & fitness, improves joint mobility, decreases body fat levels, and strengthens bones. Thus, most of the population are using bicycles to maintain good health as cycling offers a wide range of health benefits. In addition to this, due to the current pandemic situation, as a preventive measure people are avoiding the use of public transport and are preferring bicycles to ride to the school, park, shops, or work. All these factors and the rise in bicycle sports activities, growing demand for solid & tubeless tires due to their extended usability & durability are also the factors that are combinedly driving the growth of the global market. Moreover, the rise in demand for all-terrain tires owing to its off-road applications and the emerging market of e-bicycles are also driving the growth of the overall market. Furthermore, the rise in innovations in tires for the manufacture of durable and lightweight tires may increase the opportunities for the growth of the global bicycle tires market during the forecast period. However, stringent criteria for disposal of rubber may hamper the growth of the global bicycle tires market.

The global bicycle tires market is been moderately affected by the Covid-19 pandemic. In the first half of the year 2020, the production and demand for bicycle tires declined due to disruption in the supply chain, shut down of production units, and decline in the demand for bicycles. Sporting and racing activities were also ceased due to strict lockdown and restriction on movement. However, with ease in restrictions, there is an increase in the sales of bicycles as countries like Germany and other European countries are preferring cycling as a mode of transportation to avoid public transportation systems. This may lead to a steady growth rate in the market.

Global Bicycle Tires Market: Segmentation

The global bicycle tires market is classified based on product type, bicycle type, sales channel, tire size, and region. Based on the product type, the global bicycle tires market is classified into the solid tire, tubeless tire, and tube tire. Based on the bicycle type, the global market is bifurcated into the road, youth, electric, mountain, cruiser, comfort, and hybrid. The sales channel is split into aftermarket and OEM. Based on the tire size, the global market is categorized into above 22 inch, 12 to 22 inch, and up to 11 inch.

Global Bicycle Tires Market: Regional Analysis

Region-wise, Asia Pacific region is predicted to hold the largest share in the global bicycle tires market over the forecast period. Factors such as the rise in adoption of bicycles, rise in concerns related to air pollution, increase in sports activities, and use of bicycles for transportation in low-income countries are spurring the growth of the market in this region. Europe is the second-largest market and is anticipated to grow with the fastest CAGR during the forecast period. The emerging market of e-bicycles, growing health issues leading to the rise in the use of bicycles for cycling as exercise, and heavy investments from the key manufacturers are the factors that are contributing to the growth of the market in this region. North America is expected to account for a substantial share due to the growing demand for tubeless tires and growing aftermarket sales of bicycles.

Global Bicycle Tires Market: Competitive Players

Continental AG, Mitas, The Goodyear Tire & Rubber Company, Cheng Shin Rubber Ind Co., Ltd., Giant Bicycles, MICHELIN, Trek Bicycle Corporation, Pirelli & C. S.p.A., Specialized Bicycle Components, and HUTCHINSON are some of the key participants in the global bicycle tires market.

Global Bicycle Tires Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.