Mountain Bike Market Size, Share, Trend

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Mountain Bike Market Trend Analysis, Share
Forecast, 2021-2027
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A study, recently conducted by the strategic
consulting and market research firm BlueWeave
Consulting, revealed that the global mountain
bike market reached USD 12,619.0 million in 2020
and is projected to reach USD 22,768.5 million by
2027, growing at a CAGR of 8.95 during 2021-2027
(forecast period). The growth is primarily
attributable to the COVID-19-induced pandemic
that has raised concerns for the people as a
result of which they have started working on
their overall fitness. The growth of the global
mountain bike market can also be attributed to
the rising viewership of bike sports. Among the
other key factors driving the global mountain
bike market is the increased emphasis on tires
production in order to enhance the performance of
mountain bikes. Mountain bikes are off-road
bikes that have flat handlebars and wide tires
for increased grip when passing over tight dirt
trails. Mountain bike types vary depending on the
accessories and equipment utilized. The different
types of mountain bikes are hardtail,
full-suspension trail, full-suspension cross
country, and full-suspension endure.
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Growth Drivers Growth in bicycle tourism Bicycle
tourism is one of the most significant ways for
nations to capitalize on sustainable economic
growth potential. Several studies have looked at
the economic benefits for states, communities,
and specific trails, and they have discovered
significant results. Globally, according to the
Outdoor Industry Association (OIA) report,
bicycling tourism accounts for over USD 83M in
trip-related spending in 2019 - excluding gear
sales. By offering people the opportunity to
explore bicycles that significantly improve the
lives of fitness-minded individuals, bicycle
tourism has played a positive role in growing the
global mountain bike market. It has been proven
that mountain biking can be an effective
cardiovascular exercise for those wishing to lose
weight or build endurance, thus driving the need
for mountain bikes and therefore improving the
global mountain bike industry. Rising
cross-country and mountain bike competition
viewership In addition to the growing viewership
and engagement of mountain biking fans around the
world, another factor contributing to the growth
of the market has been the popularity of mountain
bike competitions around the world.
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Restraints High costs involved in the production
of mountain bikes The mountain bike differs a
bit from regular bicycles, as mountain bikes are
intended to provide a seamless experience when
traveling over rough terrains. These bikes
include numerous gears and tough frames for
durability as well as performance, so as to
provide a better riding experience with
supplementary features that have been added to
provide a better ride across rough terrains.
Because mountain bikes provide the riders with
more discretion over rough terrain, their overall
costs are a major hindrance to the global
mountain bike market. Companies manufacturing
such bikes target only those audiences that
belong to the sports industry. Additionally, the
incapability of tapping into the diverse customer
range has been negatively affecting the global
mountain bike market.
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Impact of COVID-19 on Global Mountain Bike
Market The COVID-19 pandemic is causing
extensive concern and economic hardship for
consumers, businesses, and communities across the
globe. Likewise, mountain bike market players
across the globe also faced a plethora of
difficulties caused by the COVID-19 pandemic
outbreak. This disruption of supply chains is
accompanied by declining demand owing to
uncertainty in the global economy and investment
markets in regions that have historically been
critical to the growth of the mountain bike
market. Nevertheless, with the initial decline in
sales from Covid-19, the global mountain bike
market has now gained attention from various
sectors, driving growth in developing and
developed regions alike. The growth can be
attributed to many factors, such as increased
anxiety about public transportation and a surge
in fitness and cardiovascular activities, among
others.
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Competitive Landscape The market players across
the globe are taking steps to increase sales and
expand manufacturing capacity in an effort to
gain a higher share of the mountain bike market.
The global mountain bike market is fragmented
with competitive rivalry and presence of multiple
established participants. Additionally, there is
an increased opportunity for new entrants in the
global mountain bike market due to possible
mergers and acquisitions. Some of the key players
in the market are Accell Group, Giant
Manufacturing Co. Ltd, Pivot Cycles, Scott Sports
SA, Trinx Bikes, XDS Bikes, Trek Bicycle
Corporation, Diamondback Bicycles, Shimano Inc.,
BH Bikes, Dorel Sports, and other prominent
players. Sample Copy https//www.blueweaveconsu
lting.com/global-mountain-bike-market-report/repor
t-sample
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Restraints High costs involved in the production
of mountain bikes The mountain bike differs a
bit from regular bicycles, as mountain bikes are
intended to provide a seamless experience when
traveling over rough terrains. These bikes
include numerous gears and tough frames for
durability as well as performance, so as to
provide a better riding experience with
supplementary features that have been added to
provide a better ride across rough terrains.
Because mountain bikes provide the riders with
more discretion over rough terrain, their overall
costs are a major hindrance to the global
mountain bike market. Companies manufacturing
such bikes target only those audiences that
belong to the sports industry. Additionally, the
incapability of tapping into the diverse customer
range has been negatively affecting the global
mountain bike market.
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