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Global Bike Tyre Market – Industry Trends and Forecast to 2029

  • Automotive
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Bike Tyre Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 2.10 Billion
Diagram Market Size (Forecast Year) USD 4.78 Billion
Diagram CAGR %

Global Bike Tyre Market, By Bicycle Type (Mountain, Hybrid, Electric, Comfort, Youth, Cruise, Road), Product Type (Tube Tire, Tubeless Tire, Solid Tire), Tire Size (Upto 12 inch, 12 to 22 inch, Above 22 inch), Sales Channel (OEM, Aftermarket) – Industry Trends and Forecast to 2029

Market Analysis and Size

Vehicle owners have started adopting alternative modes of transportation, such as bicycle owing to the skyrocketing fuel prices throughout the globe. In recent years, the reach of aftermarket tires sales has broadened due to the popularity of cycling competitions. Manufacturers are introducing various innovative products in accordance to consumer needs.

Global Bike Tyre Market was valued at USD 2.10 billion in 2021 and is expected to reach USD 4.78 billion by 2029, registering a CAGR of 10.83% during the forecast period of 2022-2029. Tubeless Tire accounts for the largest propulsion type segment in the respective market owing to the enhanced resistance. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

The bicycle tire generates the longitudinal force required for braking and propulsion, provides ideal suspension. These tyres execute a crucial function that declines the shock transferred over the front wheels and rear wheels. The bike tyres are utilized for handcycles and specially designed wheelchairs.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Forecast Period

2022 - 2029

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Bicycle Type (Mountain, Hybrid, Electric, Comfort, Youth, Cruise, Road), Product Type (Tube Tire, Tubeless Tire, Solid Tire), Tire Size (Upto 12 inch, 12 to 22 inch, Above 22 inch), Sales Channel (OEM, Aftermarket)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa

Market Players Covered

Continental AG (Germany), Bridgestone Corporation (Japan), Michelin (France), The Goodyear Tyre & Rubber Company (India), Pirelli & C. S.p.A. (Italy), Sumitomo Corporation (Japan), Yokohama Tire Corporation (Japan), Hankook Tire & Technology Co.,Ltd. (South Korea), Nokian Tyres plc (Finland), CEAT Ltd. (Italy), Toyo Tire Corporation (Japan), Shandong Tang Ren Import and Export Trading Co., Ltd. (China), Hebei Huichao Machinery Parts Co., Ltd. (China), Zhejiang PDW Industrial Co., Ltd. (China), Jiangxi Deyou Technology Co., Ltd. (China), Qingdao Keter Tyre Co.Limited Trading Company (China), Shandong Juling Group (China), Aliner Automotive Equipments Pvt. Ltd. (India), and Auto Tool Equipment Solution (India), among others

Market Opportunities

  • Increase in the sales of e-bikes
  • Rise in demand for sports bicycles due to increased use of bicycles in trekking
  • Rise in popularity of cycling competitions in sporting events

Bike Tyre Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

  • Demand for Sports Bicycles

The rise in demand for sports bicycles due to increased use of bicycles in trekking and leisure activities is one of the major factors driving the growth of bike tyre market. An increase in the number of cycling events and biking expeditions to difficult terrains, including steep mountain ranges.

  • Popularity of Cycling Competitions

The rise in popularity of cycling competitions in sporting events accelerate the market growth. The increase in these cycling competitions accelerate the scope of aftermarket tire sales due to the constant need for maintenance services.

  • Advancements in Bicycles

The advancements in the bikes such as new batteries with higher capacities and longer life along with the use of electric bicycles further influence the market.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the bike tyre market.

Opportunities

Furthermore, increase in the sales of e-bikes extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, government initiatives to promote cycling will further escalate the growth of bike tyre market.

Restraints/Challenges faced by the Bike Tyre Market

On the other hand, high cost associated with the bicycles and shortage of necessary spare parts and accessories are expected to obstruct market growth. Also, fluctuations in raw material prices are projected to challenge the bike tyre market in the forecast period of 2022-2029.

This bike tyre market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bike tyre market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

COVID-19 had a Major Impact on Bike Tyre Market

The COVID-19 had a negative impact on the bike tyre market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand bike tyre market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the bike tyre market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Recent Developments

  • All Land Rover Defender models were equipped ex-works with Continental’s 19 and 22-inch CrossContact RX crossover tires in Jauary’2022. This line of tires are sspecifically developed for crossover and sport utility vehicles (SUVs).

Global Bike Tyre Market Scope

The bike tyre market is segmented on the basis of bicycle type, product type, tire size and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Bicycle Type

  • Mountain
  • Hybrid
  • Electric
  • Comfort
  • Youth
  • Cruise
  • Road

On the basis of bicycle type, bike tyre market is segmented into mountain, hybrid, electric, comfort, youth, cruise and road.

Product Type

  • Tube Tire
  • Tubeless Tire
  • Solid Tire

On the basis of product type, bike tyre market is segmented into tube tire, tubeless tire and solid tire.

Tire Size

  • Upto 12 inch
  • 12 to 22 inch
  • Above 22 inch

On the basis of tire size, bike tyre market is segmented into upto 12 inch, 12 to 22 inch and above 22 inch.

Sales Channel

  • OEM
  • Aftermarket

On the basis of sales channel, bike tyre market is segmented into OEM and aftermarket.

Bike Tyre Market Regional Analysis/Insights

The bike tyre market is analyzed and market size insights and trends are provided by country, bicycle type, product type, tire size and sales channel.

The countries covered in the bike tyre market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the bike tyre market because of the high disposable income and well-developed infrastructure within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in number of sports activities in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Bike Tyre Market Share Analysis

The bike tyre market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bike tyre market.

Some of the major players operating in the bike tyre market are

  • Continental AG (Germany)
  • Bridgestone Corporation (Japan)
  • Michelin (France)
  • The Goodyear Tyre & Rubber Company (India)
  • Pirelli & C. S.p.A. (Italy)
  • Sumitomo Corporation (Japan)
  • Yokohama Tire Corporation (Japan)
  • Hankook Tire & Technology Co.,Ltd. (South Korea)
  • Nokian Tyres plc (Finland)
  • CEAT Ltd. (Italy)
  • Toyo Tire Corporation (Japan)
  • Shandong Tang Ren Import and Export Trading Co., Ltd. (China)
  • Hebei Huichao Machinery Parts Co., Ltd. (China)
  • Zhejiang PDW Industrial Co., Ltd. (China)
  • Jiangxi Deyou Technology Co., Ltd. (China)
  • Qingdao Keter Tyre Co.Limited Trading Company (China)
  • Shandong Juling Group (China)
  • Aliner Automotive Equipments Pvt. Ltd. (India)
  • Auto Tool Equipment Solution (India)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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Global Bike Tyre Market was valued at USD 2.10 billion in 2021.
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