Reports And Data
Mountain Bike Market Size – USD 3.51 Billion in 2020, Market Growth – at a CAGR of 5.3%, Market Trends – Increasing disposable income in developing countries.
NEW YORK, NY, UNITED STATES, July 22, 2022 /EINPresswire.com/ -- Rise of adventure tourism and increasing focus on outdoor activities to maintain physical wellness following the COVID-10 pandemic are driving market revenue growth
Market Size – USD 3.51 Billion in 2020, Market Growth – at a CAGR of 5.3%, Market Trends – Increasing disposable income in developing countries
The global mountain bike market size is expected to reach USD 5.34 Billion in 2028 and register a CAGR of 5.3% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth are rising focus on development of more durable and sturdy bikes, rising preference for bike sports, increasing preference for adventure tourism, and increasing number of individuals focusing on improving physical health and fitness. Mountain bikes are types of bicycles that are particularly designed for riding on rocky and uneven terrain. Mountain bikes or bicycles are mainly ridden off-road, on mountain trails, single tracks, and other uneven and unchartered paths.
Mountain bikes can be categorized into hardtail, rigid, and full suspension, depending on suspension type. Hardtail bikes have suspension shock absorbers only on the front fork. Full-suspension mountain bikes have suspension shock absorption in front as well as rear. Rigid bikes have no suspension in front fork or rear. These bikes are mainly used for racing and leisure purposes. Racing segment is expected to register faster revenue CAGR than other bike types throughout the forecast period. Increasing number of participants in mountain biking activities and rising focus on outdoor and adventure activities to maintain physical health and wellness are factors resulting in rising sales of bicycles of varying types and models, and the trend is expected to continue going ahead.
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Some Key Highlights From the Report:
• In July 2021, Greyp launched high tech electric trekking bike, Greyp e-SUV T5. This bike is equipped with, an integrated eSIM, electric motor, 700 Wh battery that offers up to 100 km range.
• Cross-country bikes segment accounted for largest revenue share in the global market in 2020. This can be attributed to rising demand for cross-country bikes due to various advantages such as better durability, high speed, and lightweight frame.
• North America is expected to register significant revenue growth over the forecast period. Growing awareness regarding fitness, robust presence of major bike manufacturers, and increasing investment by government and private investors in mountain bike manufacturing and infrastructure are major factors driving revenue growth of the market in this region.
• Major players in the market include Trek Bicycle Corporation, CUBE Bikes, Cannondale Bicycle Corporation, Diamondback Bicycles, XDS Bikes, Giant Manufacturing Co. Ltd., Pivot Cycles, Trinx Bikes, Xidesheng Bicycle Company, and Rocky Mountain Bicycles.
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For the purpose of this report, Reports and Data has segmented the mountain bike market based on type, distribution channel, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
• Cross Country Bikes
• Downhill Bikes
• Freeride Bikes
• Dirt Jumping Bikes
• Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
• Specialty Bicycle Retailers
• Full-Line Sporting Goods Stores
• Mass Merchants
• Others
Application Outlook (Revenue, USD Billion; 2018-2028)
• Racing
• Leisure
Regional Outlook (Revenue, USD Billion; 2018-2028)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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Tushar Rajput
Reports and Data
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