The “Sports Bicycle Tire Market: Opportunity Analysis and Future Assessment 2023-2030″ study, recently released by Reports & Insights, details the market’s size, potential, and in-depth comprehension of the statistics targeted toward the market’s development in an incredibly careful and complete manner. The market size is forecast from 2023 through 2030, with 2021 serving as the study’s base year. The report also includes in-depth market knowledge, a conceptual framework, and current market trends in addition to a precise textual and graphical representation of the market over the forecast period of 2023–2030, developed by the acknowledged market authority using verified research methodologies and tried-and-true analytical approaches.
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By the end of 2030, it is anticipated that the global market for sports bicycle tire market will be worth US$ 14.4 Bn, as per the latest industry analysis by Reports and Insights.
The global sports bicycle tire market is expanding as a result of rising fuel prices, which encourage vehicle owners to look into cheaper transportation alternatives. The sports bicycle tire market has grown significantly over the assessment period, with a focus on technological advancements that aid in providing a rider-friendly experience by equipping tires with enhanced safety features.
This market study on the global sports bicycle tire market aims to cover market dynamics such as market drivers, challenges/restraints, and opportunities for the market players. It will also cover market segmentation outlook, sports bicycle tire market trend, regional outlook, smart oral care products size, and market share, as well as industry and product insights, SWOT analysis, Porter’s five force analysis, PESTEL analysis, heat map analysis, market forecast, and the major players operating in the Sports Bicycle Tire Market Size.
Sports Bicycle Tire Market Drivers: Growing Number of Cycling-related Sports
Cycling-related sports such as BMX racing and adventure sports such as mountain biking, trekking and among others, are influencing global bicycle sales around the world. Further, the growing number of cycling sports clubs and their appealing promotion strategies are influencing people of all ages to take up cycling as a recreational activity, which is expected to accelerate the product demand in the coming years.
Furthermore, technological advancements such as connected bikes and the use of advanced tire materials for lightweight and efficiency are some of the in-demand trends that is expected to boost the market growth.
Sports Bicycle Tire Market Restraints: Availability of Alternative Transportation Options
The availability of alternative transportation solutions such as motorcycles, scooters, and other micro-mobility solutions with longer travel ranges than sports bicycles is expected to hamper the market growth during the forecast period.
Further, the production of bicycle tires emits a significant amount of CO2. As a result, nations have imposed strict environmental regulations on tire manufacturing. Toxic solvents and chemicals are used in rubber processing to make tires, which emit harmful emissions and exacerbate pollution. As a result, the negative environmental impact of tire manufacturing is expected to hamper the market growth during the forecast period.
Sports Bicycle Tire Market Opportunities: Growing Prevalence of Bicycle Due to Rise in Oil Prices
With the rise in oil prices, bicycles have become a more viable transportation alternative than fuel-powered vehicles. Further, consumers are considering the use of bicycles for short-distance commutes. Furthermore, according to the World Health Organization, air pollution causes approximately 3.7 million deaths each year. Thus, reducing the unnecessary use of fuel-powered vehicles and increasing the use of bicycles are beneficial to the growth of the sports bicycle tire market.
Sports Bicycle Tire Market, by Design Type:
Based on the Design Type, the global sports bicycle tire market is segmented into; Tube Type and Tubeless Type.
Sports Bicycle Tire Market, by Application:
Based on the Application, the global sports bicycle tire market is segmented into; BMX, Mountain Bicycle, Cyclocross, City-Commuter, Road, Gravel/Dirt and Others.
Sports Bicycle Tire Market, by Tire Size:
Based on the Tire Size, the global sports bicycle tire market is segmented into; Below 12 Inch, 12 Inch to 24 Inch and Above 24 Inch.
Sports Bicycle Tire Market, by Sales Channel:
Based on the Sales Channel, the global sports bicycle tire market is segmented into OEM and Aftermarket (Independent, Authorized and Online).
Sports Bicycle Tire Market, by Region:
North America is the largest and fastest-growing region in the sports bicycle tire market. This can be attributed to factors like growth in recreational activities such as mountain biking and road racing, growing infrastructural projects for biking and increased participation in cycling activities as an exercise contributes to the region’s market development.
Europe is expected to witness significant growth in the coming years. Some of European cities are thought to be ideal for bicycle commutation. The Tour de France and the Ronde van Vlaanderen are two of the most popular cycling events in Europe. Further, European countries such as Belgium, Italy, France, Denmark, are aggressively building infrastructure to support and encourage bicycle commutation, contributing significantly to the regional market’s growth which will further increase the demand for the product.
Sports Bicycle Tire Market Key Players Analysis:
The sports bicycle tire market is moderately competitive, with a large number of players offering cost-effective products. Some players are attempting to carve out a niche for a specific demographic. To meet the needs of an expanding customer base, manufacturers are aiming for strategic collaborations with regional distributors. Suppliers are also pursuing acquisition and regional expansion strategies in order to strengthen their position.
CAMEL INDUSTRIES CO., LTD, The Goodyear Tire & Rubber Company, CST, Hutchinson, Michelin North America, Inc., Ralf Bohle GmbH, Maxxis International–USA , Continental AG, RALSON TYRES, TUFO, Vittoria, Rubena, s.r.o., and Pirelli Tyre S.p.A., among others are the top leading players in the sports bicycle tire market.
Some of the Key Questions Answered in this Report:
- Which are the five top players of the Sports Bicycle Tire market?
- How will the Sports Bicycle Tire market change in the upcoming years?
- Which product and application will take a share of the Sports Bicycle Tire market?
- What are the drivers and restraints of the Sports Bicycle Tire market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Sports Bicycle Tire market throughout the forecast period?
- What is the current market size, what will the market size be in 2030 and what will the growth rate be?
- What are the challenges to grow in the market?
- What are the market opportunities and challenges faced by the key vendors?
- Who are the major competitors and what is their strategy?
- What are the barriers to entry for new players in the market?
Recent Developments by Key Players:
- In 2018, MICHELIN introduced its first tubeless cycling tire. Michelin’s new POWER Gravel tire is designed to deliver excellent grip, performance, and durability in a variety of cycling conditions, from tarmac to single-track.
- In 2019, Continental AG expanded its market in gravel range bicycle segment segment, with the introduction of two new products, Terra Trail and Terra Speed, both of which are available in two sizes.
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