NEW YORK, Nov. 23, 2022 /PRNewswire/ — Technavio categorizes the global mountain bike market as a part of the leisure products marketthe parent market. The leisure products market covers a variety of categories, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. The global mountain bike market size is estimated to increase by USD 13,540.97 million from 2022 to 2027. The market’s growth momentum will accelerate at a CAGRof 5.4%.
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Global Mountain Bike Market – Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
Global Mountain Bike Market – Vendor Analysis
Vendor Landscape – The mountain bike market is fragmented owing to the presence of a large number of global and regional vendors. A few prominent vendors that offer mountain bikes in the market are 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., and others.
Active vendors in the market offer competitive products available through physical stores and online platforms. International players are increasing their presence in the global mountain bike market with their developed infrastructure and research and development (R&D) support. However, regional vendors are finding to it diff compete in terms of price and technology. Hence, the competitive environment is expected to increase due to an increase in product and service extensions, technological innovations, and mergers and acquisitions (M&A).
Vendor Offerings –
- Alta Cycling Group: The company offers mountain bikes such as Release 5 C and Catch 2.
- BH BIKES EUROPE SL: The company offers mountain bikes such as Lynx Race.
- Fuji Bikes: The company offers mountain bikes such as Auric, Rakan, and Outland.
- Giant Manufacturing Co. Ltd.: The company offers mountain bikes such as Trance XE and Stance E.
- For details on vendors and their offerings – Buy report!
Global Mountain Bike Market – Segmentation Assessment
By geography, the global mountain bike market is segmented into North America, EuropeAPAC, South Americaand the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global mountain bike market.
- North America held 34% of the mountain bike market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. Mountain biking is a popular off-road sport that is gaining popularity across North AmericaThe awareness regarding safety, fitness, ethics, and environmental protection is also increasing its popularity. Thus, rising disposable income, increasing interest in mountain bike events, and the launch of technologically advanced mountain bikes will drive the growth of the regional markun during the forecast period.
By end-user, the global mountain bike market is segmented into leisure and competition.
- The market share growth of the leisure segment will be higher than the other segments during the forecast period. The sport is gaining popularity in developed as well as developing economies. The growth of this segment is attributed to various factors, such as an increase in disposable income, changes in lifestyles, the promotion of mountain biking tourism, and events and races held by associations.
Global Mountain Bike Market – Market Dynamics
- Impactful Driver – Mountain biking tourism is driving the growth of the market. People travel to various destinations globally to experience mountain biking. The sport is a source of revenue generation for many countries. In addition, efforts made by local governments are attracting tourists. Various other projects, such as opening new trails; developing beginner-level trails for kids; and developing of advanced trails for various purposes, such as free rides, downhill trails, pump tracks, and jump parks, are driving the growth of the global mountain bike market during the forecast period.
- Key Trend – The development of electric mountain bikes is the key trend in the market. Electric mountain bikes help riders amplify their pedaling power, which eases the mountain biking experience. Riders can choose a lower level of engine support or can switch off the engine. In the case of uphill riding, riders can choose a higher level of support from the engine to ease the riding experience. Thus, technological advances such as the development of electric mountain bikes will support the growth of the global mountain bike market during the forecast period.
- Major Challenge – The increase in the number of accidents and crashes, and related injuries is a major challenge in the market. Riders traveling through uneven terrain are highly vulnerable to danger, as they are unaware of surface irregularities on the trail. Natural phenomena such as sudden changes in the weather and lack of sunlight may result in serious fatalities and injuries. These risks are negatively affecting the mountain bike market, which restricts enthusiasts from exploring new trails and mountain areas. This, in turn, can affect mountain biking tourism in terms of the revenue generated. Such factors will hammer the demand for mountain bikes, which will impede the growth of the global mountain bike market during the forecast period.
Drivers, Trends, & Challenges are the factors of market dynamics, which state about consequences & sustainability of businesses. Find few insights from a free sample report!
What are the key data covered in this mountain bike market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the mountain bike market between 2023 and 2027
- Precise estimation of the size of the mountain bike market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the mountain bike market across APAC, North America, Europe, Middle East and Africaand South America
- Thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of mountain bike market vendors
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