Bicycle Tire Market by Size, Growth, Trends and Forecast – 2031

Bicycle Tire Market 2022

The global bicycle tire market is projected to expand at a CAGR of close to 8% over the forecast period of 2021-2031.

Due to the increasing need for tyre maintenance services caused by the popularity of sporting and leisure activities, aftermarket tyre sales have increased. The manufacturing industry has expanded significantly in recent years, and this expansion is anticipated to continue.

As demand for bicycles, especially e-bikes, mountain bikes, and road bikes, soars throughout areas, bicycle tyres will see larger sales than ever before. The demand for more grip and a hassle-free riding experience will expand over the next years, and tubeless tyres will be in particular high demand.

Company Profiles:

• Cheng Shin Rubber Ind Co., Ltd.
• HUTCHINSON
• Trek Bicycle Corporation
• The Goodyear Tire & Rubber Company
• Specialized Bicycle Components
• MICHELIN
• Myth

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Key Takeaways from Market Study

• Low-cost manufacturing in Southeast Asia and Africa, as well as new transportation routes, are expected to fuel demand for bicycle tires by opening up significant logistic opportunities.
• Government laws and regulations that enforce the provision of incentives for the adoption of e-bikes are in place in European countries such as Germany, Denmark, and the Netherlands, which will boost sales of bicycle tires.
• Tubeless tires to account for over 40% of the global market value due to capability of steadiness, less frequent punctures, and better grip.
• Due to a positive outlook for bicycle sales, demand in South Asia and Asia Pacific is increasing. Aggressive marketing of prospective distributors in key countries in South Asia and Pacific, as well as MEA, may benefit players in these regions even more.
• Around half of global bicycle tire sales are projected to come from East Asia.
• Tire size 12-22 inches would be the most in demand, accounting for nearly 40% of total market share.
• Aftermarket sales channel to account for nearly two-third of overall of bicycle tires.

"Increasing traffic and deteriorating congestion & air quality are putting the spotlight on cycling as an environment-friendly mode of transportation, thereby catalyzing demand for bicycle tires," says a Persistence Market Research analyst.

Market Landscape Identified to Be Fairly Fragmented

The global bicycle accessory market has been characterized as a highly fragmented space, with the unorganized sector accounting for a significant portion of the total market.

Some of the leading market participants included in this report are Cheng Shin Rubber Ind Co., Ltd., HUTCHINSON, Trek Bicycle Corporation, The Goodyear Tire & Rubber Company, Specialized Bicycle Components, MICHELIN, Mitas, Pirelli & C. S.p.A., Giant Bicycles, and Continental AG, who account for a fair share of the market.

To increase market footprint, key players are focusing on research and innovation for the development of better products. To meet the needs of an increasing customer base, manufacturers are pursuing strategic alliances with regional end consumers, distributors, and other market participants. Key players are collaborating and forming alliances with other regional players and automobile manufacturers.

Conclusion

Due to rising bicycle sales and an increasing number of people opting for environment-friendly e-bikes, demand for bicycle tires will grow significantly. Environmental legislations are also putting pressure on producers to develop products that incorporate technological advancements. The bicycle accessory market is also expected to grow due to low-cost parts manufacturing in Southeast Asia as well as new transportation corridors in the making.

Want to Know More?

Persistence Market Research, a research and consulting firm, has published a revised market research report on the bicycle tire market that contains global industry analysis of 2016-2020 and opportunity assessment for 2021-2031. The report provides in-depth analysis of the market through different segments, namely, product type, tire size, sales channel, bicycle, and region.

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Key Questions Answered in This Report.

• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
• What are sales, revenue, and price analysis by regions of industry?

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