Global Bicycle Tires Market – Industry Trends and Forecast to 2030

 Bicycle Tires Market Analysis and Size

Recently, there has been remarkable growth in bicycle tires market due to increasing awareness regarding the healthy lifestyle among major worldwide population. As a result, health enthusiasts are inclined toward performing physical activities such as cycling to stay healthy and fit from all across the globe. Therefore, there is remarkable growth in demand for bicycles globally, directly fuelling the need for the bicycle tires in the market. Apart from this, the continuously increasing fuel prices is one of the significant factors stimulating demand opportunities in the global market for bicycle tires.

Data Bridge Market Research analyses that the bicycle tires market was valued at USD 1.34 billion in 2022 and is expected to reach the value of USD 2.18 billion by 2030, at a CAGR of 6.30% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Bicycle Tires Market Scope and Segmentation

Market Definition

A bicycle tire is a tire that fits on the wheel of a bicycle or similar vehicle. These tires may also be used on tricycles, hand cycles and wheelchairs, frequently for racing. Bicycle tires offer a significant source of suspension and make the lateral forces necessary for turning and balancing. These tires also generate the longitudinal forces necessary for braking and propulsion.

Global Bicycle Tires Market Dynamics

Drivers

• Growing usage of bicycle as part of the fitness and fun activities 

The rise in bicycle usage as part of the fitness and fun activities is projected to boost the market's growth. As bicycle provides many mental and physical advantages, consumers have a rising acceptance of bicycle to improve their fitness and health. The upsurge in the number of consumers who are opting for bicycling as a form of leisure activity positively affects the demand for the bicycle tires boost the market growth.

• Rising public bicycle renting programs

Bike-sharing programs have become more popular all over the world. As a result of some initiatives, increase the cycling usage due to minimize environmental pollution and reduce traffic congestion. These bicycles are available for rent thus consumers don’t need to purchase a new bicycle for use. The growing initiative for the bike sharing is upsurge the demand of the bicycle tires, which are expected to boost the growth of the market.

Opportunities

• Rising demand for green transportation

The rising demand for green transportation in the market is anticipated to increase the market's growth globally in upcoming years. According to the report of WHO, air pollution is also the major factor of death. It has contributed to approx. 3.7 Mn under the age of 60 in the year 2012. Moreover, Passenger trucks and vehicles are the major reasons of air pollution because these vehicles generate large amounts of carbon monoxide, nitrogen monoxide and other pollutants. Thus, the rising demand of green transportation such as bicycle, positively affect the demand of the bicycle tire and is expected to create immense opportunities for market growth in upcoming years.

• Growing environmental concern

With increasing concerns related to environmental issues, the major population worldwide is increasing their efforts to use environmentally-friendly alternatives for transportation. This consequence has increased the sales of the bicycles all over the globe. As a result of this, the global market of bicycle tires is experiencing lucrative avenues and ample opportunities in the forecast period.

Restraints

• Limitations associated with bicycle tires market

The market of bicycle tires has certain limitations which can impede the growth of the market such as the high price of the bicycles and the shortage of necessary accessories and spare parts. Moreover, developing the automotive sector in evolving markets can challenge the market's growth in the above mentioned forecast period.

• Negative environmental effect of tire manufacturing

A large quantity of CO2 is released during the production of bicycle tires. As a result of this, nations have imposed strict environmental guidelines on tire manufacture. In rubber processing, for the manufacture of tire use toxic solvents and chemicals, which generate harmful emissions and exacerbate pollution. As a result of this, the negative environmental effect of tire manufacturing is anticipated to hinder the market's growth in the forecast period.

This bicycle tires market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bicycle tires market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Global Bicycle Tires Market

The COVID pandemic significantly affects the market in terms of sales. As a result of strict lockdown regulations and increasing safety concerns disrupted the manufacturing and shipping capacities. In the pandemic period, manufacturing units and the supply chain have been suspended, decreasing tire exports. Also, there is a rise in the price of raw materials such as nylon, polyester, and rubber. The raw material costs account for 65-70% of total tire costs, a major challenge faced by the market due to the covid-19 pandemic.

Recent Development

• In 2020, Continental AG launched a new product named Ultra sport III. This new product is a low-range sport tire for bicycle lovers. It provides great traction capacity and grip in a low price range.

Global Bicycle Tires Market Scope

The bicycle tires market is segmented based on bicycle type, product type, width, size, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Bicycle Type

• Mountain
• Hybrid
• Electric
• Comfort
• Youth
• Cruiser
• Road

Product Type

• Tube Tire
• Tubeless Tire
• Solid Tire

Width

• 18mm - 32mm
• 32mm - 52mm
• Above 52mm

 Size

• Up to 12 Inch
• 12 Inch - 22 Inch
• Above 22 Inch

 Application

• On-Road Application
• All Terrain Application

Distribution Channel

• Bicycle Tire Aftermarket
• Original Equipment Manufacturers (OEMS)

Bicycle Tires Market Regional Analysis/Insights

The bicycle tires market is analyzed and market size insights and trends are provided by country, bicycle type, product type, width, size, application and distribution channel as referenced above.

The countries covered in the bicycle tires market report are report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the bicycle tires market in revenue growth. This is mainly due to the high adoption of bicycles and the growing demand for premium bicycles in this in this region. China dominates the Asia-Pacific bicycle tires because top global producers of bicycles and bicycle tires are known as ‘the kingdom of bicycles’.

Europe is projected to be the fastest developing region during the forecast period of 2023-2030 due to the region's better disposable income and growing awareness regarding environmental concerns .

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Bicycle Tires Market Share Analysis

The bicycle tires market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bicycle tires market.

Some of the major players operating in the bicycle tires market are:

• Trek Bicycle Corporation (U.S.)
• Amerityre (U.S.)
• The Yokohama Rubber Co., Ltd. (Japan)
• Trelleborg AB (Sweden)
• Continental AG (Germany)
• Bridgestone Corporation (Japan)
• Michelin (France)
• The Goodyear Tyre & Rubber Company (U.S.)
• Sumitomo Corporation (Japan)
• Hankook Tire & Technology Co.,Ltd. (South Korea)
• Toyo Tire Corporation (Japan)
• Shimano Inc. (Japan)
• Hero Cycles Ltd (India)
• Specialized Bicycle Components (U.S.)
• Currie Technologies (U.S.)
• OMAX Corporation (U.S.) 

SKU-60407