Market Overview:
The Global Bicycle Tires Market size is expected to grow from USD 8.61 billion in 2022 to USD 51.32 billion by 2030, at a CAGR of 25% during the forecast period (2023-2030).
A bicycle tire is a piece of equipment that is attached to a bike, wheelchair, or cycle tire. It is typically used to keep the perfect suspension in place, to generate the precise amount of power required to break the suspension, and to take a turn or ride it smoothly. The market segmentation for bicycle tires is thoroughly and thoughtfully examined in the bicycle tires study. The analyst claims that the market for bicycle tires is expanding due to millennials and the younger generation's growing knowledge of fitness and health. Consumers are increasingly becoming conscious of social media technology as it continues to advance across the globe through research and development.
Top Key Players Covered In The Bicycle Tires Market:
- Vittoria (Italy)
- Continental AG (US)
- Apollo Vredestein (Netherlands)
- Freedom Bicycle (US)
- Kenda Tires (China)
- Amerityre (U.S.)
- The Yokohama Rubber Co. Ltd. (Japan)
- Sumitomo Corporation (Japan)
- Hankook Tire & Technology Co.Ltd. (South Korea)
- Toyo Tire Corporation (Japan), and Other Major Players.
Market Dynamics and Factors:
The increased use of bicycles for recreational and exercise purposes is anticipated to accelerate market expansion. Bicycles are increasingly accepted by consumers as a means of enhancing their fitness and health due to their numerous mental and internal benefits. The increase in consumers choosing bicycle riding as a leisure activity has a favorable impact on the demand for bicycle tires, driving the market's expansion. Around the globe, bike-sharing programs have grown in popularity. Increase cycling use as a result of some efforts to lessen traffic congestion and environmental pollution. Customers do not need to buy a new bicycle to use these because they are accessible for rental.
In the coming years, it is anticipated that the market's development will be accelerated worldwide due to the growing demand for green transportation. The WHO study states that air pollution is a significant cause of death. Around 3.7 million people under the age of 60 benefited from it in 2012. Additionally, because passenger trucks and cars produce significant amounts of carbon monoxide, nitrogen monoxide, and other pollutants, they are the main sources of air pollution. Thus, the growing demand for environmentally friendly modes of transportation like bicycles has a positive impact on tire demand and is anticipated to open up tremendous possibilities for market development in the coming years.
Bicycle Tires Market Report Highlight:
- By Bicycle Type, the Hybrid segment is anticipated to lead the growth of the Bicycle Tires market in the forecasted timeframe. For greater speed and less effort when cycling on the road, hybrids also use the lighter weight, thinner wheels, and smoother tires of road bikes. Similar to a touring bike, hybrid bikes frequently have places to attach racks and bags for carrying belongings.
- By Product Type, the Tubeless Tire segment is expected to have the highest share of the Bicycle Tires market over the projected period. Wheel setups without inner tubes are known as tubeless tires. Thanks to a creative solution that replaces the inner tube with a rubber sealant instead, they significantly increase puncture resistance. Riders who ride off-road at high speeds without inner tubes avoid the all-too-common issue of pinch flats.
- The Asia Pacific region is expected to have the highest share of the Bicycle Tires market over the projected period. This is primarily because bicycle adoption is high and there is a rising market for high-end bikes in this area. Because China is the world's top producer of bicycles and bicycle tires, also known as "the kingdom of bicycles," it controls the Asia-Pacific bicycle tire market.
Key Industry Developments in the Bicycle Tires Market:
In March 2023, Michelin released its Wild Enduro R Rear tire, specifically designed for aggressive enduro and gravity riders. It boasts excellent grip, stability, and puncture resistance on challenging terrain.
In June 2023, Continental rolled out its Terra Trail tubeless gravel tire. This tire focuses on versatility and control, with a balanced tread pattern ideal for mixed terrain riding.
In October 2023, Schwalbe: Expanding its G-One Speed range, Schwalbe introduced the G-One Allround Evolution tire. This all-season tire promises impressive rolling efficiency and grip on varied road surfaces.
Bicycle Tires Market Segmentation:
By Bicycle Type
- Mountain
- Hybrid
- Electric
- Comfort
- Others
By Product Type
- Tube Tire
- Tubeless Tire
- Solid Tire
For this report, Introspective Market Research has segmented the Bicycle Tires Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA