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on January 24, 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:
The global Bicycle Tire market has witnessed significant growth in recent years, driven by a myriad of factors contributing to its expansion. The increasing demand for Bicycle Tires across various industries, including construction, marine, and sports, has played a pivotal role in shaping the market landscape. Bicycle Tires are indispensable in these sectors, serving diverse purposes such as lifting, securing, and towing, thereby fueling the market’s growth. Technological advancements in Bicycle Tire manufacturing, leading to the development of stronger and more durable materials, have further intensified the market competition. Moreover, the growing emphasis on safety standards and regulations in industrial applications has heightened the demand for high-performance Bicycle Tires, driving innovation in the market. As industries continue to evolve, the Bicycle Tire market is poised for sustained growth, with manufacturers focusing on enhancing product versatility and durability to meet the evolving needs of end-users worldwide.
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Bicycle Tire Market Scope:
The scope of the Bicycle Tire market is expansive, encompassing a wide array of applications and industries globally. Bicycle Tires serve as fundamental components across sectors such as construction, shipping, outdoor activities, and rescue operations. The market’s reach extends to various types of Bicycle Tires, including synthetic, natural fiber, and steel Bicycle Tires, each tailored to specific needs and environments. The increasing emphasis on sustainability and eco-friendly materials has led to the development of innovative Bicycle Tires with reduced environmental impact. Additionally, the market scope is influenced by the ongoing advancements in Bicycle Tire technology, resulting in the production of lightweight, high-strength, and corrosion-resistant Bicycle Tires. As industries continue to diversify, the Bicycle Tire market is expected to witness sustained growth, driven by the ever-expanding applications and the constant pursuit of enhanced performance and safety standards.
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.
• 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 Bicycle Tirein, 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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