Global Mountain Bike Market Report

Global Mountain Bike Market- By Type (Downhill Bike, Free Ride Bike, Dirt Jumping Bike, Cross Country Bikes and All Mountain Bikes), By Application (Racing, Leisure), By Region (North America, Europe, the Asia-Pacific, South America and the Middle East and Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-2027

  • Published Date: July 2021
  • Report ID: BWC21413
  • Available Format: PDF
  • Page: 148

Report Overview

Global Mountain Bike Market- Industry Trends & Forecast Report 2027

The global mountain bike market reached USD 12,619.0 million in 2020 and is further projected to reach USD 22,768.5 million by 2027, growing at a CAGR of 8.95% during 2021-2027 (forecast period). The rising concerns for overall fitness, accompanied by the skyrocketing viewership of bike sports have been positively contributing to the growth of the global mountain bike market. Other factors driving the growth of the mountain bike market include the thriving tire industry, as manufacturers are emphasizing the durability of the tires attached to the mountain bikes, which is further enhancing the experience for trekkers and mountaineers thus driving the growth of the global mountain bike market.

 

Source: BlueWeave Consulting

Global Mountain Bike Market Overview

Mountain bikes are off-road bikes that have flat handlebars and wide tires for increased grip when passing over tight dirt trails. Mountain bike types vary depending on the accessories and equipment utilized. The different types of mountain bikes are hardtail, full-suspension trail, full-suspension cross country, and full-suspension endure. The pressure sustained by mountain bike tires is much more than that of the road or regular bikes, owing to their volume and better traction. The rims on these bikes are much stronger and more durable for handling the bike on difficult riding trails and hikes. Because steel's mechanical qualities are long-lasting, the majority of current mountain bike frames are made of steel. Furthermore, when steel is employed in production, the material is inexpensive.

 

Global Mountain Bike Market Forecast and Trends

Growth Drivers

Growth in bicycle tourism

Bicycle tourism is one of the most significant ways for nations to capitalize on sustainable economic growth potential. Several studies have looked at the economic benefits for states, communities, and specific trails, and they have discovered significant results. Globally, according to the Outdoor Industry Association (OIA) report, bicycling tourism accounts for over USD 83M in trip-related spending in 2019 - excluding gear sales. By offering people the opportunity to explore bicycles that significantly improve the lives of fitness-minded individuals, bicycle tourism has played a positive role in growing the global mountain bike market. It has been proven that mountain biking can be an effective cardiovascular exercise for those wishing to lose weight or build endurance, thus driving the need for mountain bikes and therefore improving the global mountain bike industry.

Rising cross-country and mountain bike competition viewership

In addition to the growing viewership and engagement of mountain biking fans around the world, another factor contributing to the growth of the market has been the popularity of mountain bike competitions around the world. The Union Cycliste Internationale (UCI) reports that over 12,35 million viewers watched the Mountain Biking World Cup in 2018. During the past few years, the company has recorded an upward trend in TV viewers which is helping to propel the market upward. Additionally, the Olympics hosting mountain bike events have seen significant growth in viewers, benefitting the global mountain bike market.

Restraints

High costs involved in the production of mountain bikes

The mountain bike differs a bit from regular bicycles, as mountain bikes are intended to provide a seamless experience when traveling over rough terrains. These bikes include numerous gears and tough frames for durability as well as performance, so as to provide a better riding experience with supplementary features that have been added to provide a better ride across rough terrains. Because mountain bikes provide the riders with more discretion over rough terrain, their overall costs are a major hindrance to the global mountain bike market. Companies manufacturing such bikes target only those audiences that belong to the sports industry. Additionally, the incapability of tapping into the diverse customer range has been negatively affecting the global mountain bike market.

Impact of COVID-19 on Global Mountain Bike Market

The COVID-19 pandemic is causing extensive concern and economic hardship for consumers, businesses, and communities across the globe. Likewise, mountain bike market players across the globe also faced a plethora of difficulties caused by the COVID-19 pandemic outbreak. This disruption of supply chains is accompanied by declining demand owing to uncertainty in the global economy and investment markets in regions that have historically been critical to the growth of the mountain bike market. Nevertheless, with the initial decline in sales from Covid-19, the global mountain bike market has now gained attention from various sectors, driving growth in developing and developed regions alike. The growth can be attributed to many factors, such as increased anxiety about public transportation and a surge in fitness and cardiovascular activities, among others.

Global Mountain Bike Market- By Type

Based on types, the global mountain bike market is segmented into downhill bike, free ride bike, dirt jumping bike, cross country bikes, and all mountain bikes. The cross country mountain bike held the largest share in the market in the year 2020. Cross country mountain bikes are designed in a way that allows them to easily climb steep hills with higher efficiency, greater speed and agility owing to their lightweight frames, which makes them a great option for riding on regular roads as well. It has enabled even the most inexperienced of mountain bikers to benefit from the riding experience and build their skills over mountain biking. These bikes are particularly popular among cyclists who would like to gain confidence in mountain biking and start their racing career over rough terrain, which is further contributing to the growth of the global mountain bike market

 

Global Mountain Bike Market- By Application

Based on application, the global mountain bike market can be categorized into racing and leisure. The racing segment held the larger share in the market in 2020 and is expected to witness a strong CAGR over the coming years. The rising popularity of mountain bike racing cycles around the world, accompanied by an increasing number of professional cyclists in the mountain biking domain, have been the major factors bolstering the growth of the global mountain bike market. Additionally, the COVID-19 pandemic has stopped many professionals and budding cyclists to showcase their expertise in the field of mountain biking with the postponement of biking events. However, due to vaccine rollout, bike sporting events have gained traction, encouraging cyclists to invest in mountain bike gear and accessories, driving up the racing segment of the global mountain bike market.

Source: BlueWeave Consulting

Global Mountain Bike Market- By Region

 

Based on the region, the global mountain bike market has been divided into North America, Europe, the Asia-Pacific, South America, and the Middle East and Africa. North American region presently holds the largest share in the global mountain bike market. The global mountain bike market has been experiencing an upward trend in the U.S. and Canada, where mountain sports enthusiasts have the biggest viewership and customer base. The region's booming adventure sports and power sports industries, together with the presence of key manufacturers operating in the rough and rugged machines and bikes domain, have been a driving force behind the growth of the global mountain bike market. However, the Asia-Pacific is expected to grow at the fastest pace during the forecast period.

 

Source: BlueWeave Consulting

Competitive Landscape

The market players across the globe are taking steps to increase sales and expand manufacturing capacity in an effort to gain a higher share of the mountain bike market. The global mountain bike market is fragmented with competitive rivalry and presence of multiple established participants. Additionally, there is an increased opportunity for new entrants in the global mountain bike market due to possible mergers and acquisitions. Some of the key players in the market are Accell Group, Giant Manufacturing Co. Ltd, Pivot Cycles, Scott Sports SA, Trinx Bikes, XDS Bikes, Trek Bicycle Corporation, Diamondback Bicycles, Shimano Inc., BH Bikes, Dorel Sports, and other prominent players.

Recent Developments

·         In September 2020, The Accell Group launched Sparta d-Burst, with Accell dealers watching via a live stream. Through the introduction of its d-series (distance series), Sparta is focusing on a whole new target group, namely commuters cycling between their home and workplace. The d-Burst is available as both an e-bike and a speed pedelec with a total capacity of no less than 1125 Wh.

·         In September 2020, Giant Manufacturing Co. Ltd. launched the all-new Trance X Advanced Pro 29, which is a full-composite trail bike with updated Maestro rear suspension technology and a new flip chip feature that allows riders to adjust frame geometry.

 

Scope of Report

Attribute

                              Details

Years considered

Historical data- 2016-2020

Base Year- 2020

Forecast- 2021-2027

Facts covered

Revenue in USD million

Market coverage

US, Canada, Germany, UK, France, Italy,  Brazil, India, South Korea, China, Mexico, and others

Product/ Service segmentation

By Type, By Application, By Region

Key Players

Accell Group, Giant Manufacturing Co. Ltd, Pivot Cycles, Scott Sports SA, Trinx Bikes, XDS Bikes, Trek Bicycle Corporation, Diamondback Bicycles, Shimano Inc., BH Bikes, Dorel Sports and other prominent players.

 

By Type

Ø  Downhill bike

Ø  Free ride bike

Ø  Dirt jumping bike

Ø  Cross country bikes

Ø  All-mountain bikes

By Application

Ø  Racing

Ø  Leisure

By Region

Ø  North America

Ø  Europe

Ø  The Asia-Pacific

Ø  South America

 

Ø  The Middle East and Africa