Germany Mountain Bike Market to Witness Mounting Growth: Expected to Reach USD 4,688.3 million in 2027
Published | 12 August 2021
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Germany mountain bike market reached USD 2,446.5million in 2020and is projected to reach USD 4,688.3million by 2027, growing at a CAGR of 9.9% during 2021-2027 (forecast period). The increased awareness of quickly changing climatic conditions in the country, the growing older adult population in the 40-60 age bracket, and the growing popularity of mountain biking racing events have all contributed to the expansion of the German mountain bike market.Furthermore, increased government attempts to remodel and reconstruct the country's cycling infrastructure are boosting the German mountain bike market's growth potential.Additionally, the growing emphasis of the German population over growing health concerns has augmented the demand for mountain bikes in the region, which have proven advantageous in enhancing the conditioning of the body, thereby positively impacting the growth of the Germany mountain bike market.
Rising bike infrastructure expenditure is bolstering the growth of Germany mountain bike market
Over 8 out of 10 households in Germany own a bike of some kind, making it one of the biggest bike markets worldwide. The robust automobile market in the country has amplified the car market throughout the country, making the country a driving nation. Nevertheless, recent investments and infrastructure schemes are turning the tables and giving bike and mountain bike segments traction in Germany. With the recent push for infrastructural development across the country, there is a resurgence in demand for mountain bikes in Germany. The steps are being undertaken by the government to encourage the public to opt for a much safer mode of transportation. The European Cyclists Federation stated that the German federal government is looking forward to investing around USD 1.02 billion in cycling, thereby providing a further boost to the Germany mountain bike market.
Growing emphasis on biking culture across the country is escalating the demand for mountain bikes
The German bicycle industry association, Zweirad-Industrie-Verbandes (ZIV)stated that Germany recorded a 34% hike in biking purchases across the country, as the people began spending around USD 1,216 per new bicycle. Also, the German mountain bike market saw a tremendous influx of sales after the initial lockdown, as mountain biking went on to become one of the best ways to develop the conditioning of the human mind.The mountain biking exercise involves using a broad range of muscles both upper and lower, enabling the muscles to be exposed to multiple types of activities over time, which helps in toning them over time. Additionally, amid the pandemic, Germany's transport minister announced that the government is planning to move the nation to a more environmentally-friendly mode of transportation, and people may be offered tax benefits for buying electric vehicles.
Cross country bikessub-segmentaccumulated the largest share in the Germany mountain bike market
Based on types, the Germany mountain bike market is segmented into the downhill bike, free ride bike, dirt jumping bike, cross country bikes, and all-mountain bikes. Across the segment, cross country mountain bikes held the largest share in the Germany mountain bike market in 2020. Cross country bikes are known to be the best performer bikes among all mountain bikes due to their accessibility and ease of use. Compared to mountain bikes, the bikes weigh less and offer better leisure and commercial applications. However, such bikes may not prove useful in racing events as they don’t possess the handling powers across terrains as much as other mountain bikes do, rendering them less impactful in racing events. The combination of speed and suspension capabilities along with smooth-riding tires has helped these bikes gain a broader market share in Germany, thereby enhancing the growth of the Germany mountain bike market.
The racing sub-segment occupies the larger share in the application segment across Germany mountain bike market
Based on applications, the Germany mountain bike market can be divided into racing and leisure. The racing segment accumulated a larger share in the Germany mountain bike market. The Union Cycliste Internationale (UCI) states that Germany has registered over 20 racing events for 2021 as against 28 events in the year 2019. Due to increased viewership and popularity of the sport in the region, mountain biking racing events have seen a sharp increase in recent years.Furthermore, government initiatives have pushed people to use mountain biking for commuting, making them more ready to participate in such racing events as they have become accustomed to it.According to Our World in Data, Germany has a vaccination rate of over 57.14% (as of 9th July 2021). The country is also witnessing a rising vaccine rollout, which is improving the COVID-19 situation, thereby enhancing the number of racing events. It is thus positively contributing to the growth of the segment and thereby bolstering the Germany mountain bike market.
Germany mountain bike market - COVID-19 Impact Analysis
Amid the pandemic, Germany's mountain bike sector has seen unparalleled growth.As of June 2021, 91,701 lives were lost to COVID-19, which was emotionally devastating to the country.Additionally, being the fourth-biggest economy worldwide, the country has suffered on the economic front as well. However, the country has started taking notes on the present situation and has decided to fight the pandemic uniquely. The German government is increasing its monetary expenditures to improve cycling infrastructure across the country.The biking culture has long been overshadowed by the country’s thriving automobile sector. However, the investment is expected to uplift the two-wheelerindustry, particularly impacting the mountain biking segment. More than 585,000 mountain bikes have already been sold due to a pandemic, which indicates positive growth prospects for the industry in the coming years.It is expected that the Germany mountain bike market will continue to support the trend reversal.
The leading players in the Germany mountain bike market are Peugeot Cycles, Focus Bikes, Canyon Bicycles GmbH, H&S Bike-Discount GmbH, Scott Sports AG, Trek Bicycle Corporation, MSA Motor Sport Accessoires GmbH, YT Industries, Cube Bikes, Ghost Bikes, Nicolai Bicycles and other prominent players. The Germany mountain bike market is moderately fragmented, with some players holding onto a considerable share in the market. As major players continue to leverage Industry 4.0 technologies to enhance existing bikes' efficiency, new entrants are having an increasingly difficult time capturing market share in Germany's mountain bike market.
In December 2020, Canyon Bicycles GmbH announced the launch of a newer version of its Spectral mountain bike. The company is renowned for its aerodynamic time trial, road, and triathlon bikes, accompanied by cross-country mountain bikes. The Spectral model is instead targeted toward those audiences and riders who are adept with technical mountain biking and are skilled while riding across challenging descents. The bike launched comes with a carbon fiber frame and a 150mm suspension travel that manages to be lightweight and enhances the handling capability over technical terrains.
In January 2020,YT Industries announced the launch of a new budget-friendly model, the YT JEFFSY Base, coming in at around USD 3,426.6 to meet the expectations of mountain bike enthusiasts without compromising the well-proven geometry characteristics of the previous models.
Don’t miss the business opportunity of Germany mountain bikemarket. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Germanymountain bikemarket size & forecast. The report promises to provide recent technology trends of the Germanymountain bikemarket 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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