Global Mountain Bikes Market by Type (Cross country bikes, Downhill bikes, freeride bikes, Trail bikes, Dirt jumping bikes and Others), Application (Racing and Leisure), and Distribution Channel (Specialty Bicycle Retailers, Full-Line Sporting Goods Store, Full-Line Sporting Goods Store, Outdoor Specialty Store and Others), and by Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 - 2030
Key Market Insights
Mountain Bikes Market size was worth around USD 5.22 billion in 2021 and is predicted to grow around USD 11.04 billion by 2030 with a compound annual growth rate of roughly 9.8% between 2022 and 2030. The report analyzes market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global market.
Mountain bike is a bicycle built for riding over rugged, uncharted, and off-road terrain tracks. These bicycles have thicker tires than typical bicycles, pedal-powered, frames constructed of strong alloys, and a variety of seats/saddles, handlebars, handle grips, rims, braking system, shock absorbers, and gear systems, amongst others.
Mountain bikes or bicycles are commonly ridden off-road, hillsides, valleys, in mountainous terrain and trails, narrow tracks, fire roads, and in locations with an irregular topography. Increasing number of bike riding contests and events is a key element affecting the expansion of the global mountain bike market.
For instance, in February 2022, the Red Bull Monserrate Cerro Abajo in Bogota has been conducted in which around 400 bikers have participated. The mountain bike events have contributed to an increase in mountain riding tourism, which is accelerating the country’s economic growth.
In contrast, robust technology and an increase in riding bike sales will boost the mountain bike market share. Moreover, the growth of e-mountain bike grows among younger generation’s extraordinary enthusiasm for hiking and leisure activities.
However, government rules regarding speed and safety concerns related to these bikes are anticipated to impede the market's expansion. The Union Cycliste Internationale (UCI) has enacted stringent standards regulating the electric motors for e-mountain bikes, which cannot exceed 250 watts. The existence of pedal assistance is restricted to a maximum speed of 25 kilometers per hour. People are becoming increasingly interested in performance-based extreme sports, which is expected to enhance demand for mountain bikes throughout the current projection period, which ends in 2027.
Key Insights
- As per the analysis shared by our analyst team, the global mountain bikes market is estimated to grow annually at a CAGR of around 9.8% over the forecast period (2022-2030).
- In terms of revenue, the global mountain bikes market size was valued at around USD 5.22 Billion in 2021 and is projected to reach USD 11.04 billion by 2030.
- Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on type segmentation, the cross country bikes were predicted to show maximum market share in the year 2021.
- Based on application segmentation, the racing segment was the leading revenue-generating type in 2021.
- Based on distribution channel segmentation, the specialty bicycle retailers were projected to show largest share in the year 2021.
- On the basis of region, North America was the leading revenue generator in 2021.
COVID-19 Impact
The emergence of the COVID-19 pandemic has a significant influence on the mountain bike market. The COVID-19 pandemic caused a drop in economic growth in nearly all of the world's leading economies, influencing consumer purchasing behavior. Consequently, an inadequate supply of raw materials impeded the manufacturing of mountain bikes, which had a negative influence on market expansion. The impact on the e-bike industry is high due to the shutdown of production facilities, halted distribution and final assembly, and delayed product launch. The demand of overall bike had dropped significantly across the globe.
However, this scenario is anticipated to improve as governments throughout the world have begun to ease restrictions on the resumption of commercial activity. The bike industry boomed in the second half of 2020 due to surging demand. Constraints on leisure options, public transport, and social alienation led people to cycle for commuting, transport, and recreation. Rising health concerns during COVID-19 also motivated people to choose cycling for fitness and leisure. Growing demand for cycles favoring the mountain bikes market growth. For instance, the sales figure of mountain bikes got almost doubled in UK by the article published by Bicycle Association of Great Britain.
Increasing Cross-Country Competitions Around the Globe Favoring the Market Growth
Increasing number of cross-country competitions, increasing preference for adventure tourism, rising cost of fuel, rising disposable income in developing countries are few of the major factors that are contributing significantly to the growth of the mountain bikes market in the forecasted years. Moreover, the premium bikes consisting advanced technical features are in demand as they provide more safety, comfort and style and thus increasing prices of the bikes.
The rising popularity of adventure travel is another significant reason that is contributing to the expansion of the mountain bike industry, which is pushing up sales. A factor that is further projected to continue to assist the growth of market revenue throughout the forecast period is the growing awareness and importance of personal fitness.
As mountain bikes are utilized on rugged terrains and in hilly locations, rising number of accidents have compelled bike OEMs to build more robust and strong bikes for bike riding contests. Increasing demand for bikes that are sturdier and more resilient will soon result in the expansion of the global market for mountain bikes. Thus, rising rivalry contributes to the market development and will soon result in the expansion of the mountain bike market. For instance, In December 2020, Pivot introduced 2nd generation shuttle e-mountain bike, and the expanding public awareness of health and leisure activities will create a massive market potential for the sector.
Bicycle Tourism Propelling the Market Forward
Numerous factors contribute to the expansion of the mountain bike market revenue including increased global tourism and growing demand for more outdoor activities. With rising incomes, popularity of bicycle tourism is gaining traction thus bikers demand for annual or biannual holidays. This is also due to the intense marketing of tourism destinations conducted by local governments and hotel companies. This, in turn, has benefited the business, which visitors frequently use to explore the surrounding landscape.
High Costs of Bike Parts Hampering Market Growth
Mountain bikes have more advanced components and features than standard or conventional bicycles. Some users who are not too active enthusiasts may be deterred by the high cost of maintenance on these bicycles, and this might impede market growth to some degree during the projection period. In addition, costly maintenance is another issue inhibiting market growth.
Mountain Bikes Market: Segmentation Analysis
Based on product, the global market is segmented into cross country bikes, downhill bikes, freeride bikes, trail bikes, dirt jumping bikes & others. The cross country bikes powered segment is dominating the market share owing to the rising demand due to fast speed, increased durability, lightweight frame, and impact absorption capacity around the globe.
On the basis of application, the market is bifurcated into racing and leisure. The racing segment is dominating the mountain bikes market value owing to rising popularity of mountain bike racing cycles worldwide. Furthermore, an increase in the number of professional cyclists in the mountain biking domain have been the primary reasons driving the expansion of the global market.
In addition, the COVID-19 pandemic has prevented many professional and aspiring cyclists from demonstrating their ability in mountain riding by postponing bike contests. However, as a result of the vaccination distribution, bike sports events have gained popularity, motivating cyclists to invest in mountain bike equipment and accessories, driving growth in the racing segment of the global mountain bike market.
Based on distribution channel, the global market segments are specialty bicycle retailers, mass merchants, full-line sporting goods store, outdoor specialty store and others. The specialty bicycle retailers segment is dominating the market share owing to the growing number of specialist bicycle dealers, the rising demand for sports bicycles, and the growing preference for mountain biking as both a sport and recreational activity.
Recent Development
October 2021- Hero Cycles has collaborated with Yamaha Motor to create a global E-Cycle drive unit company and set up the manufacturing facility in Punjab, India.
September 2020- Accel Group has launched Sparta d-Burst via live stream by introducing its d-series (distance series). The d-Burst is offered as an e-bike and a speed pedelec with a minimum total capacity of 1125 Wh.
North America is Dominating the Market Share
North America imountain bikes market is expected to showcase significant growth by 2030 owing to the increased purchasing power and the presence of major players. This, along with the fact that a number of significant manufacturers are headquartered for adventure-related activities, has resulted in substantial development in the region.
Competitive Landscape
Frog Bikes Ltd., Marin Mountain Bikes Inc., NORCO BICYCLES, Cycling Sports Group, LLC, Trek Bicycle Corporation, XDS BIKE CO., Diamondback Bicycles, Pivot Cycles, Canyon Bicycles GmbH, SCOTT Sports SA, BH BIKES, Hero Cycles Ltd, FIREFOX BIKES, Giant Bicycles, Accell Group, Pedego, Polygon Bikes, amongst others.
The global Mountain Bikes market is segmented as follows:
By Type
- Cross country bikes
- Downhill bikes
- Freeride bikes
- Trail bikes
- Dirt jumping bikes
- Others
By Application
- Racing
- Leisure
By Distribution Channel
- Specialty Bicycle Retailers
- Mass Merchant
- Full-Line Sporting Goods Store
- Outdoor Specialty Store
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Global Mountain Bikes Market by Type
- September-2022
- 1 4 3
- Global
- automotive
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