Bicycle Tire Market Size Was Valued at USD 5.64 Billion in 2023, and is Projected to Reach USD 9.69 Billion by 2032, Growing at a CAGR of 6.2 % From 2024-2032.

A Bicycle Tire is equipment that is fitted on the wheel of a bike, wheelchair, or cycle. It is usually used to maintain the ideal suspension, to produce the exact amount of force needed the suspension needed for a break, and to take a turn or ride it smoothly. Bicycle Tires report comprises of studied and detailed analysis of the segmentation done for the Bicycle Tires market.  According to the analyst, the increasing awareness among the millennials and the younger generation for fitness and health is increasing the Bicycle Tires market.

The bicycle tire provides ideal suspension, generates the longitudinal force required for braking & propulsion, and produces lateral force essential for balancing and turning. Bicycle tires execute a crucial function that eliminates the shock transferred over the front wheels and rear wheels since they move on rough and uneven surfaces. They are used for handcycles and specially designed wheelchairs for racing purposes. The market expansion is due to a growing bicycle fleet as a result of skyrocketing fuel prices, which has prompted vehicle owners to look for alternative modes of transportation. The increasing popularity of cycling competitions has broadened the reach of aftermarket tires sales in the Bicycle Tires Market, and there are numerous opportunities available for people. Also, the people who suffer from the diseases like obesity, and cardiovascular are adopting a healthy lifestyle to improve their health. Bicycles are considered to be the most effective and easy way to improve health as riding a bicycle for an hour or so helps burn at least 400 calories.

Top Key Players for Bicycle Tires Market:

Vittoria, Continental AG, Apollo Vredestein, Maxxis, Challenge Tires, Fredom Bicycle, Kenda Tires, Suomi Tires, Cheng Shin Rubber, Bridgestone, Trek Bicycle Corporation, and Other Major Players.

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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Bicycle Tires Market:

Drivers:

Growing Usage of Bicycles as Part of Fitness and Fun Activities

The increasing adoption of bicycles for both fitness and recreational purposes is a key catalyst propelling the growth of the Bicycle Tires Market. With individuals recognizing the numerous physical and mental benefits of cycling, there's a growing inclination towards using bicycles to enhance their overall health.

This surge in leisure cycling enthusiasts directly contributes to heightened demand for bicycle tires, consequently fostering market expansion. Bike-sharing programs have become more popular all over the world. As a result of some initiatives, increase the cycling usage due to minimize environmental pollution and reduce traffic congestion.

Opportunities:

Rising Demand for Green Transportation

The rising demand for green transportation in the market is anticipated to increase the market's growth globally in the upcoming years. According to the report of WHO, air pollution is also a major factor in death. It has contributed to approx. 3.7 Mn under the age of 60 in the year 2012. Moreover, Passenger trucks and vehicles are the major reasons of air pollution because these vehicles generate large amounts of carbon monoxide, nitrogen monoxide, and other pollutants. Thus, the rising demand for green transportation such as bicycle, positively affect the demand of bicycle tire and is expected to create immense opportunities for market growth in upcoming years.

Segmentation Analysis of the Bicycle Tires Market:

By Product Type, The tubeless segment dominates the global market and it holds a share. As the name itself suggests these tires do not contain any tube to hold the air. Improved design in tubeless rim and tire beads made the airlock when the tire is pressurized. Tubeless tires are in high demand in the market because of their self-repair capacity, they offer better traction, better ride quality, provide better momentum, and are faster in running.

By Application, the global Bicycle Tire market is sub-segmented into on-road and all-terrain. The on-road segment dominates the global market and was valued at US$ 3.3 Bn. in 2022. Increasing demand for well-designed bicycles, production of e-bicycles, high durability, workability, and increased readability are the factors attributing to the on-road segment growth. 

By Bicycle Type

  • Mountain
  • Hybrid
  • Electric
  • Comfort
  • Others

By Product Type

  • Tube Tire
  • Tubeless Tire
  • Solid Tire

Regional Analysis of the Bicycle Tires Market:

The Bicycle Tires market is growing rapidly in the Asia-Pacific region. Asia-Pacific region accounted for the largest market share of 55% across the globe with a CAGR of 5.14% and a market size of USD 3.78 billion in the year 2020. But in the Bicycle Tires forecast period, due to the high demand from regions like China, Japan, Australia, and India, Asia-Pacific is expected to continue the growth of the Bicycle Tires market with an estimated market size of USD 5 billion in the year 2026.

Geographic Segment Covered in the Report

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

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