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on January 18, 2024
Bicycle Tire Market was valued at US$ 7.37 Bn in 2022 and expected to grow at a CAGR of 6.3% during the forecast period (2023-2029). Thanks to the growing trend of tubeless tire use which has boosted demand for Global Bicycle Tire Market.
Bicycle Tire Market Overview:
Technological advancements and changing industrial demands are driving a dynamic shift in the Bicycle Tire market. The industry's growing emphasis on improving metal attributes like durability, corrosion resistance, and aesthetics is largely due to the importance of the Bicycle Tire industry. Leading companies in the market are always coming up with new ideas to create state-of-the-art surface treatment solutions that not only satisfy strict industry requirements but also take environmental concerns into account. New methods for using Bicycle Tires that reduce the use of dangerous materials have been developed as a result of the increased focus on environmentally friendly and sustainable practices. This shift in the market is indicative of a larger industry commitment to finding a balance in metal finishing processes between longevity, performance, and environmental responsibility.
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Bicycle Tire Market Scope:
The market for Bicycle Tires is growing as more and more industries realize how important surface treatments are to improving the functionality and durability of metal parts. Advanced metal finishing solutions are seeing a boom in demand from a variety of industries, including automotive, aerospace, electronics, and construction. The demand for better conductivity, corrosion resistance, and aesthetic appeal is driving the expansion of the Bicycle Tire industry. Furthermore, the introduction of novel technologies and procedures is expanding the horizon by providing customized solutions to satisfy the various demands of various industries.The Bicycle Tire market is expected to grow due to improvements in materials science and rising consumer awareness of the advantages of premium surface treatments, as manufacturers look to streamline their operations and satisfy exacting quality requirements.
Bicycle Tire Market Segmentation:
The tubed, tubeless, and airless segments of the global bicycle tire market are subdivided based on product segment. With a 52% share in 2023, the tubeless segment dominated the global market. These tires don't have an air-holding tube, as their name suggests. When the tire is pressurized, the improved tubeless rim design and tire beads cause the air to lock. Tubeless tires are highly sought after in the market due to their ability to self-repair, superior traction, improved ride quality, increased momentum, and faster running speed. As a result, over the course of the forecast period, the tubeless tire market is anticipated to expand at a CAGR of 4.3%.
The global bicycle tire market is divided into two sub-segments: on-road and all-terrain, based on the Application Segment. The on-road market is the largest in the world and was estimated to be worth US$ 3.3 billion in 2022. The growth of the on-road segment can be attributed to several factors, including the rising demand for well-designed bicycles, the production of e-bikes, high durability, workability, and increased readability. Because off-road tires are less durable, more expensive to upgrade, have less rolling resistance, and are more easily damaged by uneven surfaces, they are less popular.
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Bicycle Tire Market Key Players:
Secondary research is used to identify market Bicycle Tireers, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the Bicycle Tireing manufacturers’ annual and financial reports, whilst primary research included thorough interviews with key opinion Bicycle Tireers and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.
The biggest players in the Bicycle Tire market are as follows:
• Vittoria
• Continental AG
• Apollo
• Vredestein
• Maxis
• Challenge Tires
• Hutchinson SA
• Freedom Bicycle
• Michelin
• Kenda Tires
• Schwalbe
• Suomi Tyres
• Panaracer Corporation
• Fyxation Bicycle Co.
• Cheng Shin Rubber
• Bridgestone
• Trek Bicycle Corporation
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Bicycle Tire Market Regional Analysis:
Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Bicycle Tire market study’s regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Bicycle Tire Market:
End-user industries where Bicycle Tire are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Bicycle Tire manufacturers, affecting the Bicycle Tire market’s growth in 2020. End-user business demand for Bicycle Tire has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Bicycle Tire Market Report are:
- In 2021, which segment accounted for the most share of the Bicycle Tire market?
- What is the competitive landscape of the Bicycle Tire market?
- What are the key factors influencing Bicycle Tire market growth?
- In the Bicycle Tire market, which region has the most market share?
- What will be the CAGR of the Bicycle Tire market during the forecast period (2022-2027)?
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