Global Bike Tyre Market Segmentation, By Bicycle Type (Mountain, Hybrid, Electric, Comfort, Youth, Cruise, and Road), Product Type (Tube Tire, Tubeless Tire, and Solid Tire), Tire Size (Upto 12 inch, 12 to 22 inch, and Above 22 inch), Sales Channel (OEM and Aftermarket) – Industry Trends and Forecast to 2031.
Bike Tyre Market Analysis
The rising demand for enhanced safety features in bicycles is a significant market trend driving innovation in bike tires. As consumers become more conscious of safety while cycling, there is a growing preference for tires that offer advanced features such as anti-skid properties and puncture resistance. These safety enhancements are crucial for preventing accidents and ensuring a secure riding experience, particularly in varied and challenging conditions. Manufacturers are responding to this demand by developing and integrating cutting-edge technologies into their tire designs. Innovations such as reinforced sidewalls, tread patterns optimized for better grip, and advanced puncture-resistant materials are becoming more prevalent. This trend not only reflects the increased emphasis on rider safety but also encourages ongoing research and development in the tire industry, leading to the introduction of new, high-performance products that meet the evolving needs of cyclists. As safety features become a key selling point, tire manufacturers are focusing on delivering products that enhance overall riding confidence and performance.
Bike Tyre Market Size
Global bike tyre market size was valued at USD 2.58 billion in 2023 and is projected to reach USD 5.87 billion by 2031, with a CAGR of 10.83% during the forecast period of 2024 to 2031. 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.
Bike Tyre Market Trends
“Rising Demand for Safety Features”
The rising demand for enhanced safety features in bicycles is a significant market trend driving innovation in bike tires. As consumers become more conscious of safety while cycling, there is a growing preference for tires that offer advanced features such as anti-skid properties and puncture resistance. These safety enhancements are crucial for preventing accidents and ensuring a secure riding experience, particularly in varied and challenging conditions. Manufacturers are responding to this demand by developing and integrating cutting-edge technologies into their tire designs. Innovations such as reinforced sidewalls, tread patterns optimized for better grip, and advanced puncture-resistant materials are becoming more prevalent. This trend not only reflects the increased emphasis on rider safety but also encourages ongoing research and development in the tire industry, leading to the introduction of new, high-performance products that meet the evolving needs of cyclists. Safety features are becoming a key selling point, hence tire manufacturers are focusing on delivering products that enhance overall riding confidence and performance.
Report Scope and Market Segmentation
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Attributes
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Bike Tyre Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
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Key Market Players
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Continental AG (Germany), Bridgestone Corporation (Japan), Michelin (France), The Goodyear Tyre & Rubber Company (India), Pirelli & C. S.p.A. (Italy), Sumitomo Corporation (Japan), Yokohama Tire Corporation (Japan), Hankook Tire & Technology Co., Ltd. (South Korea), Nokian Tyres plc (Finland), CEAT Ltd. (India), Toyo Tire Corporation (Japan), and Qingdao Keter Tyre Co., Ltd. (China)
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Market Opportunities
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Value Added Data Infosets
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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.
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Bike Tyre Market Definition
A bike tyre, also known as a bicycle tire, is a rubber component that encircles a bicycle wheel's rim. Bike tires come in different types, such as road tires, mountain bike tires, and hybrid tires, each designed to suit specific riding conditions and preferences.
Bike Tyre Market Dynamics
Drivers
- Growing Interest in Cycling
More individuals are investing in bicycles for personal use, driven by an increasing awareness of health and wellness, as well as environmental benefits. As cycling becomes a preferred choice for exercise and leisure, the market for bike tires expands correspondingly. This surge in interest is not only supporting the growth of the bike tire market but also encouraging manufacturers to innovate and cater to diverse consumer needs, such as specialized tires for different cycling activities. The rising popularity of cycling as both a recreational activity and a fitness pursuit is significantly boosting the demand for bike tires.
- Growth of Bike Sharing Programs
The expansion of bike-sharing programs in urban areas is driving the demand for durable and reliable bike tires. These programs, which provide convenient access to bicycles for short-term use, have become increasingly popular as cities seek to reduce traffic congestion and promote eco-friendly transportation options. As the number of bike-sharing schemes grows, so does the need for high-quality tires that can withstand frequent use and varied riding conditions. This trend presents opportunities for tire manufacturers to supply products that meet the specific requirements of bike-sharing fleets, including enhanced durability and performance.
Opportunities
- Increasing Popularity of Adventure Cycling
The rising interest in adventure and off-road cycling is creating a significant demand for specialized tires designed to handle rugged terrains. As more cyclists seek out challenging trails and diverse landscapes, the need for tires that offer superior traction, durability, and performance in off-road conditions becomes crucial. This trend is prompting tire manufacturers to develop and innovate products that cater to the unique needs of adventure cyclists, thereby creating opportunities in the market for high-performance tires and encouraging advancements in tire technology.
- Advancements in Sustainable Materials
The growing emphasis on sustainability and environmental responsibility is influencing the tire industry to adopt eco-friendly materials in production. The use of sustainable materials, such as recycled rubber and bio-based compounds, appeals to environmentally conscious consumers and enhances the market appeal of bike tires. As consumers increasingly prioritize products that contribute to environmental conservation, tire manufacturers are responding by incorporating green technologies and materials into their products. This shift not only aligns with global sustainability trends but also provides a competitive edge in the market.
Restraints/Challenges
- Fluctuating Raw Material Prices
Volatility in the prices of raw materials, such as rubber and synthetic compounds, presents a significant challenge for the bike tire market. Fluctuations in these costs can directly impact production expenses and market stability, affecting both manufacturers and consumers. Rising raw material prices can lead to increased production costs, which may be passed on to consumers through higher tire prices. Additionally, unpredictable raw material costs can disrupt supply chains and complicate long-term planning for tire manufacturers, making it essential for companies to adopt strategies to mitigate these financial pressures.
- Supply Chain Disruptions
Disruptions in the supply chain, caused by factors such as geopolitical tensions, natural disasters, or logistical challenges, can significantly impact the availability and cost of bike tires. Such disruptions can lead to delays in production and distribution, affecting the timely supply of tires to the market. Additionally, supply chain issues can result in increased costs for raw materials and components, further influencing tire prices and market stability. Tire manufacturers must navigate these challenges by diversifying their supply sources and developing contingency plans to ensure a steady and reliable supply of products.
This 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Bike Tyre Market Scope
The market is segmented on the basis of bicycle type, product type, tire size, and sales 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
- Cruise
- Road
Product Type
- Tube Tire
- Tubeless Tire
- Solid Tire
Tire Size
- Upto 12 Inch
- 12 to 22 Inch
- Above 22 Inch
Sales Channel
- OEM
- Aftermarket
Bike Tyre Market Regional Analysis
The market is analyzed and market size insights and trends are provided by country, bicycle type, product type, tire size, and sales channel as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to the region's high disposable income and well-developed infrastructure. The high purchasing power of consumers in North America translates into greater spending on recreational activities, including cycling. Furthermore, the region boasts a robust infrastructure that supports cycling, such as dedicated bike lanes, trails, and cycling-friendly urban planning.
Asia-Pacific is expected to be the fastest growing due to notable increase in sports activities across the region. As countries in APAC experience a rising interest in fitness and recreational cycling, there is a growing demand for bicycles and, consequently, bike tires. The expanding middle class in various APAC countries is also contributing to higher disposable incomes, which enables more individuals to invest in bicycles and related accessories. Additionally, government initiatives and investments in infrastructure to promote cycling as a sustainable mode of transportation further support market expansion.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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.
Bike Tyre Market Share
The market competitive landscape provides details by competitors. 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 market.
Bike Tyre Market Leaders Operating in the Market Are:
- Continental AG (Germany)
- Bridgestone Corporation (Japan)
- Michelin (France)
- The Goodyear Tyre & Rubber Company (India)
- Pirelli & C. S.p.A. (Italy)
- Sumitomo Corporation (Japan)
- Yokohama Tire Corporation (Japan)
- Hankook Tire & Technology Co., Ltd. (South Korea)
- Nokian Tyres plc (Finland)
- CEAT Ltd. (India)
- Toyo Tire Corporation (Japan)
- Qingdao Keter Tyre Co., Ltd. (China)
Latest Developments in Bike Tyre Market
- In June 2023, Michelin introduced the new Power Adventure Bicycle tire, designed to deliver high performance both on and off the road. Part of the Michelin Power range, this tire targets adventure enthusiasts seeking low rolling resistance and exceptional grip
- In April 2023, TVS Eurogrip Tyres introduced new products for superbikes and adventure touring bikes, including the Roadhound, Duratrail, and Terrabite tires, along with other range extensions in the motorcycle tubeless category, primarily targeting enthusiasts
- In September 2022, Apollo Tyres introduced a new brand name along with two new tire models, the Tramplr XR and Tramplr ST, specifically designed for adventure touring and dual-sport enthusiasts. These high-performance tires are tailored to meet the needs of various motorcycle types, including sports, touring, adventure touring, cruisers, and street sports, according to the company's specifications
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