Economic Influences and Opportunities in Bicycle Tire Market
Bicycle Tire Market was valued at US$ 7.37 Bn in 2022 and expected to grow at a CAGR of 6.3% during the forecast period (2023-2029). Thanks to the growing trend of tubeless tire use which has boosted demand for Global Bicycle Tire Market.
Bicycle Tire Market Overview:
Bicycle Tire Market Segmentation:
The tubed, tubeless, and airless segments of the global bicycle tire market are subdivided based on product segment. With a 52% share in 2023, the tubeless segment dominated the global market. These tires don't have an air-holding tube, as their name suggests. When the tire is pressurized, the improved tubeless rim design and tire beads cause the air to lock. Tubeless tires are highly sought after in the market due to their ability to self-repair, superior traction, improved ride quality, increased momentum, and faster running speed. As a result, over the course of the forecast period, the tubeless tire market is anticipated to expand at a CAGR of 4.3%.
The global bicycle tire market is divided into two sub-segments: on-road and all-terrain, based on the Application Segment. The on-road market is the largest in the world and was estimated to be worth US$ 3.3 billion in 2022. The growth of the on-road segment can be attributed to several factors, including the rising demand for well-designed bicycles, the production of e-bikes, high durability, workability, and increased readability. Because off-road tires are less durable, more expensive to upgrade, have less rolling resistance, and are more easily damaged by uneven surfaces, they are less popular.
1 Bicycle Tire Market, by Product (2023-2029)
• Tubed
• Tubeless
• Airless
2 Bicycle Tire Market, by Application (2023-2029)
• On-road
• All terrain
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Bicycle Tire Market Key Players: The key players are
• Vittoria
• Continental AG
• Apollo
• Vredestein
• Maxis
• Challenge Tires
• Hutchinson SA
• Freedom Bicycle
• Michelin
• Kenda Tires
• Schwalbe
• Suomi Tyres
• Panaracer Corporation
• Fyxation Bicycle Co.
• Cheng Shin Rubber
• Bridgestone
• Trek Bicycle Corporation
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Bicycle Tire Market Regional Analysis:
The Bicycle Tire market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Bicycle Tire market share and will continue to be a major shareholder in the global Bicycle Tire market.
COVID-19 Impact Analysis on Bicycle Tire Market: The COVID-19 impact on the Bicycle Tire market is also included in the report
Key Questions Answered in the Bicycle Tire Market Report are:
- What will be the CAGR of the Bicycle Tire market during the forecast period?
- Which segment emerged as the leading segment in the Bicycle Tire market?
- Which are the prominent players in the Bicycle Tire market?
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