Europe Mountain Bike Market to Witness Astonishing Growth: Expected to Reach USD 10,446.2 million in 2027
Published | July 2021
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Europe mountain bike market reached USD 5,586.8 million in 2020 and projected to reach USD 10,446.2 million by 2027, growing at a CAGR of 9.5% during the forecast period (2021-2027). Due to better riding performance, small and lighter mountain bikes are experiencing good growth in Europe's mountain bike market. Since 2010, the region has been witnessing a dramatic increase in demand from countries such as Germany, the Netherlands, Denmark, and Switzerland. The region is a hub for the cycling industry and possesses a well-established mountain biking infrastructure. Mountain bikes have proven really useful in improving heart conditioning and since the region is on the verge of a demographic loss due to declining population rates, it becomes extremely important for leveraging measures that can help improve the quality of life.
Europe's mountain bike market is growing as infrastructure expenditure grows
Many developed countries in Europe have started investing in improving their cycling infrastructure to encourage citizens to stop using public transportation services as this may result in an increase in COVID-19 cases in the respective countries. As a result of this measure, the countries have started restructuring their bike infrastructure by renovating and replacing the conventional cycling lanes and introducing COVID-19 lanes under the “Green Deal” of the EU which covers over 34 out of the European Union's 94 cities. It is estimated that more than USD 1.14 billion has already been invested in upgrading the cycling infrastructure, and approximately 1000 kilometers have already been completed. Infrastructure may improve mountain biking conditions in Europe, where mountain bikes are frequently purchased over conventional bikes. Therefore, the growing infrastructure is fueling the growth of the mountain bike market in Europe.
The rising geriatric population in the region is augmenting the growth of the Europe mountain bike market
Eurostat reported that by January 2020, the European region had registered a population of around 447.7 million, which is down more than 12.8% compared to 513.5 million recorded in January 2019. The statistics suggest that the European region is on the verge of witnessing a demographic decline over the next few years. Italy had recorded the lowest birth rate at 7.0%. Thus, the aging generation is considering how they can opt for fitness regimens that are aimed at enhancing longevity. Mountain bikes have thus proven pivotal in improving the health conditions of older adults. As mountain biking involves major muscle groups that require a great deal of oxygen, it enhances cardiovascular health, which is essential for older adults as they are more vulnerable to cardiovascular diseases. It has thus been crucial in increasing demand for mountain bikes in Europe, thereby enabling the higher growth of this market.
Cross country bikes sub-segment accumulated the largest share in the Europe mountain bike market
Across the type segments, the Europe mountain bike market is bifurcated into the downhill bike, free ride bike, dirt jumping bike, cross country bikes, and all-mountain bikes. The cross-country mountain bike accounted for the largest share in the market in 2020. Cross country bikes are considered to be all-rounder bikes as these bikes come equipped with a single suspension system that helps in improving maneuvering across steep terrains. Weight-wise, cross-country bikes are less cumbersome compared to other mountain bikes, making the bike a more preferred option for all-mountain bikes. As these bikes are lighter, they provide higher acceleration and power, which enhance the biking experience for professionals. As a result, these bikes have been the top choice of professionals for mountain biking events. Since Europe hosts some of the biggest mountain bike competitions, it is thus increasing the demand for mountain bikes in Europe.
The racing sub-segment occupies the larger market share in the application segment
Based on applications, the Europe mountain bike market can be grouped into racing and leisure. The racing segment acquired the larger share in the Europe mountain bike market. The Union Cycliste Internationale (UCI) reports that the European region was on a mountain biking spree in 2019 as it hosted over 628 races. Its momentum broke with the outbreak of COVID-19, which led to a decline in the number of events. The rising vaccine rollout programs have again been providing some hope in enhancing the racing events over the next few years. Accordingly, the market for mountain bikes in Europe is expected to grow in the foreseeable future.
Europe Mountain Bike Market: Country Insights
Based on countries, the Europe mountain bike market has been grouped into Germany, the UK, France, Italy and the rest of EU. Among these, Germany accounted for the largest share in the Europe mountain bike market in 2020. In Germany, some of the biggest mountain bike manufacturers have been leveraging technology to enhance the riding experience for professionals through various sponsorships and events, which in turn is helping the market to grow. Furthermore, racing events are sometimes contested by people without much experience, allowing the mountain bike to be exposed to a larger audience and enabling for the growth of the market. Eurostat estimates that Germany has more than 73.51 million bicycles across all households, suggesting that the country prefers biking to driving. This has proportionally increased the popularity of mountain bikes in the region, which in turn has positively affected the market for mountain bikes in Europe.
Europe Mountain Bike Market - COVID-19 Impact Analysis
COVID-19 shook the world and left a huge impact on the manufacturing sector. Mountain bikes experienced disrupted supply chains due to the stringent lockdown measures, causing adverse effects on the market during the lockdown. Nevertheless, the EU's recovery plan is expected to propel growth prospects for Europe's mountain bike market. In May 2020, the EU announced the Green Deal as part of its recovery package to reduce environmental impact, CO2 emissions, and enhance social distancing for curbing the spread of the virus, which has proven to be a major driving force for the Europe mountain bike market. The residents are also promoting the use of e-mountain bikes throughout Europe, which are expected to gain a lot of traction and positively impact the Europe mountain bike market.
The leading players in the Europe mountain bike market are Accell Group N.V., Giant Manufacturing Co. Ltd, Pivot Cycles, Scott Sports SA, Trek Bicycle Corporation, 3T cycling, Cube Bikes, Ghost Bikes, Wilier Triestina S.p.A. and other prominent players. The Europe mountain bike market is fragmented, with a number of players involved in the development/production of mountain bikes throughout the region. It increases the opportunities for new entrants across the developed regions of Portugal, and Belgium that have recently been witnessing rising production levels of mountain bikes across Europe owing to potential mergers or acquisitions in the Europe mountain bike market.
In June 2021, Scott Sparks announced the launch of ALL NEW Spark RC for the European market. The mountain bike is a designed by leveraging top-notch carbon engineering, with unimaginable levels of integration. The company had strived to craft the platform as faster as possible for both uphill and downhill. The company is claiming the bike to be suitable for cross country racing thereby inducing the public to try it for enhancing their speed on trails.
In May 2021, France-based Victoire Cycles brand Distance announced the launch of “Escapade Edition” Distance 60 mountain bike. The Distance 60 mountain bike is an all-terrain model, designed with the amalgamation of Dedacciai and Columbus tubes. The bike features a SON dynamo hub for powering front and rear lights and comes equipped with a USB port, a complete set of hand-crafted Helmet Equipment bike-packing bags, and a carbon Columbus Adventure fork which is known to maximize the tire clearance.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe mountain bike market size & forecast. The report promises to provide recent technology trends of the Europe mountain bike market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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