Mountain Bike Market

Report Overview

Product Overview

Mountain Bike Market size was USD 8.32 billion in 2021 and projected to grow from USD 9.4 billion in 2023 to USD 16.1 billion by 2032, exhibiting a CAGR of 6.2% during the forecast period.

Mountain bikes or mountain bicycles are specially designed for off-road cycling activities. Mountain bikes share a few similarities with several bicycles, but integrate characteristics designed to improve performance and durability in uneven terrains, which makes them heavier, less efficient and more complex on smooth surfaces. Precisely, additional rear suspension on trails are more difficult. Mountain bikes having 27.5-inch wheels are more advantageous for the smaller riders.

Market Highlights

Mountain Bike Market is expected to project a CAGR of 6.2% during the forecast period, 2022-2032

Mountain Bike Market is expected to reach USD 16.1 billion, growing at a CAGR of 6.2% during the forecast period owing to the increasing popularity of bicycle sports among triathletes globally and rising interest in outdoor activities. The market is also gaining from the surge in interest in cycling as a sustainable means of transportation in cities and the growing worries about on-road bike accidents. These factors are expected to boost the Mountain Bike Market over the forecast period.

Mountain Bike Market Segmentation

Cross Country Bikes segment is expected to dominate in the forecast period

Mountain Bike Market is classified based on the Type into Cross Country Bikes, All Mountain Bikes, Downhill Bikes, Freeride Bikes, and Dirt Jumping Bikes. Cross Country Bikes segment held a major share of the market and is anticipated to continue during the forecast period. The most widely used and sold bicycles are cross country models. These bikes streamline longer rides through the extensive woodlands and nature trails. They are designed to have a robust endurance rather than to withstand high forces and hefty activities. Thus, riding these bikes through the extensive spans of natural environments requires precise control.

Leisure segment is expected to dominate in the forecast period

Mountain Bike Market is classified based on the Application into Racing and Leisure. The leisure category is anticipated to account for a major market share during the projected period. A wide range of customers, including people of all ages, levels of fitness, and riding prowess, make up the leisure category. It includes those who like the outdoors, families on outdoor holidays, and pleasure riders. Mountain bikes designed for recreational use usually focus on comfort, versatility, and durability, combining performance with user-friendliness.

Market Dynamics                                                

Growth Drivers

Rising Awareness for Fitness-Associated Activities and Technological Improvements in Mountain Bicycles are Expected to Boost the Market Growth

People are inclined towards sports due to the awareness and importance of fitness-associated activities growing, which eventually raises the demand for electric mountain bikes. Moreover, the increased tourism activities and technological developments in bicycles are anticipated to fuel the global Mountain Bike Market. The rising popularity of outdoor leisure pursuits like trail riding, mountain biking, and adventure sports is driving the demand for these bicycles. Mountain biking has become more and more well-liked as a leisure sport as more individuals opt for active lifestyles and environmental exploration.

Increasing Expenditure for Mountain Biking by Several Economies is Expected to Boost the Market Growth

The global Mountain Bike Market is primarily driven by mountain biking contests, which are driving up mountain riding tours and the nations’ economic development. Bicycle manufacturers have been forced to create more robust and durable bikes due to increasing accidents in bike riding competitions, which ultimately drives market growth.

Restraint

High Priced Mountain Bikes to Restrain the Market Growth

The cost of mountain bikes with cutting-edge features and technologies is high. Mountain bikes are expensive and hence out of reach for some potential buyers due to the cost of components, materials, and specialist designs. Access to adequate mountains, trails, or off-road areas is necessary for mountain biking. In some areas, the accessibility and availability of these terrains could be restricted, which would inhibit the growth of the Mountain Bike Market.

Recent Developments

• A new ultra-light race e-bike, the Futa, is among the new electric bikes that Ducati debuted in March 2022. The Futa has a carbon fiber monocoque structure having sports endurance geometry, and 250W, 31 lb-ft FSA System HM 1.0 motor is mounted on the back hub.
• The Ibis Oso introduced a novel e-mountain bike in October 2022. The bicycle weighs only 53 pounds (24 kg), thanks to a frame made entirely of carbon fiber. This bicycle, according to Oso, is the first to employ its best superior technology. The eMTB's battery and display are also powered by the Performance Line CX motor.

Mountain Bike Market

Key Players Covered:

• BOSCH
• Shimano Inc.
• Trek Bicycle Corporation
• Specialized
• XDS Bikes
• Dorel Sports
• Cannondale
• Santa Cruz Bicycles
• BH Bikes
• Pivot Cycles
• Yeti Cycles
• Scott Sports SA
• Marin Bikes
• Kona Bicycle Company
• Diamondback Bicycles
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Mountain Bike Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is anticipated to dominate the market during the projected period owing to the high costs associated with leisure activities and the strong mountain biking competition in the region. The area has a wide variety of mounts, and most top mountain-riding locations on earth are based in Canada. The Mountain Bike Market in Asia-Pacific is anticipated to expand at the quickest CAGR during the forecasted period. Cycling is another common mode of transportation in growing Asian countries, which is fuelling the Asia-Pacific Mountain Bike Market.

Impact of Covid-19 on Mountain Bike Market

The COVID-19 pandemic had a negative influence on mountain bike production overall due to lack of raw materials and an unexpected interruption in the logistic and transport sectors brought on by emergency lockdowns around the world. However, the pandemic brought a significant shift in people's attitudes toward the value of good health and physical fitness, which aided in the prevention of viral illnesses.

Mountain Bike Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Mountain Bike Market Scope and Segments:

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