Growth in tourists adopting mountain trails as part of the natural experience to bolster demand for Mountain Bicycles; rise in professional mountain bicycling events to boost the market growth
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Mountain Bicycles Market is expected to reach USD 8,236.5 million by the end of 2026.
Bizlytik analysts forecast the global Mountain Bicycles market to grow at a CAGR of 5.2% during the forecast period, according to their latest market research report.
Mountain bicycles are manufactured for exclusive use on rugged, off-road terrain with steep slopes and dirt tracks. Mountain bicycles are thus sturdy and well-built with lightweight components that can easily handle occasional shocks and bumpy paths. A large number of customers adopt mountain bicycles for leisurely rides, along with several professionals for mountain bicycle racing.
The increasing product purchase of fitness & leisure events and rising product demand for participation in adventure sports activities are the influential primary factors that would bolster the prospects of market growth during the forecast period. The hosting of several mountain bicycling competitions and an increase in the number of athletes that are professionally taking up mountain bicycling would propel the product demand and growth prospects of the market. The increasing trend of bicycle fitness activities on rugged trails has also led to a high demand for mountain bicycles, ensuring the growth of the market. The gradual interest among customers to adopt mountain bicycles as part of their daily routine for quick rides amongst hilly regions would further improve the growth of the market. The growing trend of mountain hikes and trails as part of nature tourism activities would offer crucial manufacturers with new opportunities for product sales and business expansion over the forecast period.
Rigid, Hardtail, and Full Suspension are covered in the Type segment of the market scope. In contrast, the Application segment is categorized into Leisure and Professional. The report covers the volume of the global market by Application, with the volume expressed in K Units. The Type segment is calculated in terms of volume and value.
The volume of the Leisure segment by Application is estimated to garner 14,903.8 K Units by 2026, growing at a CAGR of 3.9% from 2020 to 2026. The high product demand among beginners and amateurs for fitness activities has led to the prosperity of the segment in recent times. The rising number of customers interested in participating in mountain hiking and local tourism activities on bicycles would also propel the growth of the sector in the coming years.
North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration while arriving at the global volume and value figures. While North America is further categorized into the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
Europe is a prominent region and holds a significant share in terms of overall value and volume. The increase in product demand among professional athletes opting for competitive mountain bicycle racing in the region has influenced the growth of the market. Additionally, the broad acceptance of mountain cycling as a fitness activity among health-conscious customers would further augment regional market growth.
The Mountain Bicycles market is highly fragmented, with several global and regional companies competing with expansive manufacturing capabilities and extensive distribution networks. The launch of new products after thorough development in performance and expansion of business opportunities through strategic partnerships & collaborations are the primary business strategies of top players.
Giant Manufacturing Co., Ltd. is one of the most significant companies of the global Mountain Bicycles Market in terms of production volume, with Trek Bicycle Corporation and Specialized Bicycle Components, Inc. among many other vendors to hold substantial market share by value and volume.