Bicycle Tire Market: Global Industry and Forecast Analysis (2023-2029)

Bicycle Tire Market was valued at US$ 7.37 Bn in 2022 and expected to grow at a CAGR of 6.3% during the forecast period (2023-2029). Thanks to the growing trend of tubeless tire use which has boosted demand for Global Bicycle Tire Market.
Bicycle Tire Market Overview:
A bicycles tire is a tire that fits on the cycle's rim and is manufactured by carcass, beads, and tread. Tires provide required forces for balancing and turning and are the important source of suspension. Two types of bicycle tires are available in the market i.e. tubed and tubeless. Bicycle tires are high in demand because of improved rolling resistance, better friction on smooth and rough terrain, increased load-bearing capacity, and longer life. Increased pollution rate and health benefits of cycling are the main factors attributing to the growth of the bicycle tire market. As a result, the global bicycle tire market is expected to reach US$ 8.86 Bn. during the forecast period.To know about the Research Methodology :- Request Free Sample Report
Bicycle Tire Market Dynamics:
Increased awareness among the people about health benefits of cycling like mental wellbeing, strengthening the immune system, weight loss, increased lung health and decreased heart diseases, etc., the growing popularity of cycling competition, growing production of electric bicycles are the main factors driving the growth of bicycle tire market.

Increased demand for replacement tires, growing fuel price and traffic congestion, increasing demand for eco-friendly vehicles are factors adding an advantage to the bicycle tire market growth. “Navyug Namdhari Enterprises (NNE)” expected to invest US$ 13.5 Mn. in Europe for the production of e-bicycles and leading bicycle producer RTE expected to open a new factory in Portugal and Poland in 2022. These recent developments may boost the bicycle tire market during the forecast period.

Technological developments in tire manufacturing like ProTection, Apex, ShielWall system, puncture resistance technology, and SafetySystem Breaker, etc., and NASA’s introduced new technology known as airless “Shape Memory Alloy” (SMA) tire are expected to add an advantage to the growth of bicycle tire market.

Some of the factors affecting the growth of the bicycle tire market are the non-degradable nature of tires, the release of carbon during the manufacturing process, government regulations, increasing consumer complaints on tires like expensive, less grip, limited travel distance, and time consumption in the fitting.
Bicycle Tire Market Segmentation:
Based on Product Segment, The global Bicycle Tire market is sub-segmented into tubed, tubeless, and airless. The tubeless segment dominates the global market and it held a share of 52% in 2023. As the name itself suggest these tires do not contain any tube to hold the air. Improved design in tubeless rim and tire beads made the air lock 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. As a result, the tubeless tire market is expected to grow at a CAGR of 4.3% during the forecast period.

Based on the Application Segment, 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 the on-road segment growth. Off-road tires are in less demand because of lower puncture protection, high cost of up-gradation, and decreased rolling resistance, and easy damage to tires by an uneven surface.
Bicycle Tire Market Regional Insights:
North America is the dominating region in the Bicycle Tire market. People’s hesitation to use public transport, high-income rate, people attraction towards cycling activities like trekking, racing, BMX, cross country cycling and artistic cycling are the factors driving the bicycle tire market in this region. US imposed “Build Back Better bill” to promote the purchase of E-bicycles, which saves up to US$ 900 when buying E-bicycle and according to “Coalition for a Prosperous America” (CPA), the USA is expecting to rebuild its bicycle manufacturing industry these recent developments expected to boost the global bicycle tire market in this region.

Asia-Pacific is the second dominating region in the bicycle tire market. The presence of a large population in this region is contributing to huge global emissions, as a result, governments are initiating policies to move towards the use of E-vehicles and renewable energy sources. This is the main driving factor for market growth.

Growing concern towards the health benefits of cycling adds an advantage to the bicycle market growth. According to “Impact of Chronic Obstructive Pulmonary Disease (COPD) in the Asia-Pacific Region: The EPIC Asia Population-Based Survey,” says that people older than 40 age are prone to chronic bronchitis. These are the factors boosting the bicycle tire market in this region.

The objective of the report is to present a comprehensive analysis of the Bicycle Tire market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Bicycle Tire market dynamics, structure by analyzing the market segments and projecting the Bicycle Tire market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Bicycle Tire market make the report investor’s guide.
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Global Bicycle Tire Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 7.37 Bn.


Forecast Period 2023 to 2029 CAGR:
6.3%
Market Size in 2029:
US $ 11.31 Bn.


 Segments Covered:
by Product
• Tubed
• Tubeless
• Airless


by Application
• On-road
• All terrain



Bicycle Tire Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Bicycle Tire Market, Key Players are:
• Vittoria
• Continental AG
• Apollo
• Vredestein
• Maxis
• Challenge Tires
• Hutchinson SA
• Freedom Bicycle
• Michelin
• Kenda Tires
• Schwalbe
• Suomi Tyres
• Panaracer Corporation
• Fyxation Bicycle Co.
• Cheng Shin Rubber
• Bridgestone
• Trek Bicycle Corporation

Frequently Asked Questions:

1. Which region has the largest share in Bicycle Tire Market?
Ans: North-America held the largest share in 2022.

2. What is the growth rate of the Bicycle Tire Market?
Ans: The Bicycle Tire Market is growing at a CAGR of 6.3 % during the forecasting period 2023-2029.

3. What segments are covered in Bicycle Tire Market?
Ans: Bicycle Tire Market is segmented into technology, product and application.

4. Who are the key players in Bicycle Tire Market?
Ans: Vittoria, Continental AG, Apollo, Vredestein, Maxxis, Challenge Tires, Hutchinson SA, Freedom Bicycle, Michelin, Kenda Tires, Schwalbe, Suomi Tyres, Panaracer Corporation, Fyxation Bicycle Co., Cheng Shin Rubber, Bridgestone, Trek Bicycle Corporation

5. What is the study period of this market?
Ans: The Bicycle Tire Market is studied from 2022 to 2029.