Global Bicycle Tire Market: was valued at US$ 6.53 Bn in 2020 and expected to grow at a CAGR of 6.3% during the forecast period (2021-2027). Thanks to the growing trend of tubeless tire use which has boosted demand for Global Bicycle Tire Market.
Global Bicycle Tire Market Overview:
The market research study Global Bicycle Tire Market analyses and assesses the market’s position during the forecast period. It is a comprehensive examination that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis. Key actors, big partnerships, mergers, and acquisitions, as well as current innovation and corporate strategies, are also examined in the research.
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Global Bicycle Tire Market Dynamic:
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.
Market Scope:
Using both primary and secondary research approaches, we researched the Global Bicycle Tire Market from every viewpoint. This helped us gain a better understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, customer habits, and so on. The data is then compiled and analyzed using a range of market estimation and data validation techniques. Furthermore, we have an in-house data forecasting engine that forecasts market growth through 2027.
Following the successful completion of market engineering, which included calculations for market statistics, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Top-down and bottom-up procedures, as well as numerous data triangulation methods, were frequently used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all statistics gathered during the whole market engineering process.
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Global 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 2020. 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 2020. 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.
Global Bicycle Tire Market Key Players:
• 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
Primary and secondary research is used to identify industry leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry professionals such as seasoned front-line personnel, CEOs, and marketing personnel. Secondary research included a review of the leading manufacturers’ annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing personnel. Secondary data is utilized to determine percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data. The players highlighted in this report are as follows:
Global Bicycle Tire Market Regional Analysis:
The report covers both qualitative and quantitative data and gives an in-depth look into the Global Bicycle Tire industry area by region. It gives a segment-by-segment overview and forecast of the worldwide Global Bicycle Tire market. It also estimates the market size and forecasts for five major regions from 2021 to 2027: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. Each area’s Global Bicycle Tire market is further subdivided into regions and segments. The report investigates and forecasts many countries, as well as existing trends and prospects in the field.
COVID-19 Impact Analysis on Global Bicycle Tire Market:
We researched and analyzed the Global Global Bicycle Tire Business Expansion Strategy post-COVID-19, by organizational strategic analysis, landscape, category, utilization, and leading countries, which encapsulates and analyses the global Global Bicycle Tire industry’s potential, providing statistical data on market trends, growth regulators, major challenges, PORTER analysis, and market entry strategy analysis, prospects, and forecasts. The fundamental purpose of the research is to offer industrial businesses a strategic analysis of COVID-19’s influence. Simultaneously, this study looked into the markets of major countries and highlighted their market potential in post-pandemic scenarios.
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Key Questions Answered in the Global Bicycle Tire Market Report are:
- What are the most promising high-growth opportunities in the global Global Bicycle Tire sector, as defined by product category, End User, and Region?
- Which Global Bicycle Tire market segments will expand the fastest, and why?
- Which regions will have the fastest growth, and why?
- What are the primary elements influencing Global Bicycle Tire market dynamics? What are the primary drivers and obstacles in the Global Bicycle Tire market?
- What are the Global Bicycle Tire market’s weaknesses and threats?
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