Mountain Bike Market was worth US$ 7.01 Bn in 2023 and total revenue is expected to grow at a rate of 12% CAGR from 2024 to 2030, reaching almost US$ 15.49 Bn in 2030
Mountain Bike Market Overview:
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Mergers and Acquisitions in the Mountain Bike Market:
The mountain bike market has seen several mergers and acquisitions (M&As) in recent years, with key players joining forces to enhance market share and expand global reach. Notably, the merger between Trek Bicycle Corporation and Accell Group has created a powerful entity in the global biking industry. This merger has allowed Trek to penetrate new regional markets and offer a more diverse product lineup.
In South Korea, Samchuly Bicycle Co. acquired the local mountain bike brand KHS Bicycles, enabling the company to enhance its R&D capabilities and diversify its offerings in the e-bike segment. This acquisition strengthens South Korea’s position in the global market, with plans to expand into Southeast Asia and beyond.
In Europe, Specialized Bicycle Components has expanded its presence by acquiring several local bicycle manufacturers to diversify its portfolio, particularly in the electric mountain bike (eMTB) segment. This strategic move allows Specialized to leverage Europe’s growing demand for eMTBs, especially in countries like Germany and France.
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Key Developments in the Mountain Bike Market:
○ Vietnam
In Vietnam, the mountain bike market has seen a surge in demand as local governments push for more eco-friendly transportation solutions. Notably, major bike manufacturers are looking to expand their production facilities in the country, providing a boost to both domestic and export markets.
○ Thailand
Thailand has become a central hub for bicycle production in Southeast Asia, with local manufacturers exporting bikes globally. The country’s strong tourism industry also drives demand for mountain bikes, as tourists flock to scenic trails in Chiang Mai and Krabi.
○ Singapore
Singapore’s mountain bike market is growing as more cycling enthusiasts take to the city-state’s extensive cycling paths and trails. The government’s focus on developing green spaces and promoting cycling infrastructure is expected to boost mountain bike sales.
○ Japan
In Japan, mountain biking is becoming a popular recreational activity, with a strong emphasis on high-quality, performance-oriented bikes. Several major players in the cycling industry are focusing on Japan as a key market, with an increased number of partnerships and mergers aimed at expanding product offerings.
○ South Korea
South Korea’s mountain bike market is experiencing rapid growth, fueled by an active cycling culture and increasing awareness of environmental issues. Mergers between South Korean cycling companies and international players have significantly contributed to market consolidation, providing a wider variety of products and innovative designs.
○ European Countries
In Europe, particularly in Germany, France, and Italy, the mountain bike market has flourished due to strong biking cultures and government incentives promoting outdoor activities. The introduction of new electric mountain bikes (eMTBs) has further accelerated growth.
○ United States
The United States remains one of the largest markets for mountain bikes, driven by a growing emphasis on outdoor sports and fitness. New developments in electric bikes, along with significant mergers between US-based manufacturers and European brands, are shaping the future of the market.
Mountain Bike Market Segmentation:
by Type
Cross Country Bikes
All Mountain Bikes
Downhill Bikes
Freeride Bikes
Dirt Jumping Bikes
Others
The market is divided into five segments: cross country bikes, all mountain bikes, downhill bikes, freeride bikes, and dirt jumping bikes. Cross country bikes had the biggest market share in the global market and are expected to maintain their dominance during the projection period. Cross country bikes are the most popular and commonly purchased. These bikes are ideal for long rides across extensive forests and nature trails. These bikes are not designed to withstand severe heavy activities or high forces, but rather to have a robust endurance. Riding these motorcycles through extended miles of natural terrain requires precise handling. All-mountain bikes are designed to be ridden precisely through high terrain and rocky portions of land.
by Products
E-Mountain Bikes
Standard Mountain Bikes
by Application
Racing
Leisure
by Distribution Channel
Offline
Online
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Mountain Bike Market Key Players:
1. Giant Bicycles
2. Cannondale
3. Pivot Cycles
4. TRINX
5. SCOTT Sports
6. Trek Bicycle Corporation
7. XDS BICYCLES
8. Xidesheng Bicycle Company
9. CUBE Bikes
10.Diamondback Bicycles
11.Beistegui Hermanos SA
12.Cycling Sports Group Inc.
13.Derby Cycle Holding GmbH
14.Dorel Industries Inc.
15.Merida Industry Co. Ltd.
16.GT Bicycles
17.Norco Bicycles
18.Santa Cruz Bicycles LLC
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Mountain Bike Market Regional Insights :
The size and trends in the Mountain Bike market in each of the following regions are thoroughly examined in this research: North America (which includes the United States, Canada, and Mexico); Europe (which includes France, Spain, Germany, Italy, and other European countries); Asia-Pacific (which includes China, Japan, India, Australia, South Korea, ASEAN countries, and others APAC countries); South America (which includes Argentina, Brazil, and other South American countries); and Middle East and Africa (which includes South Africa, Egypt, and other MEA countries).
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Key Players in the Mountain Bike Market:
1. Trek Bicycle Corporation
Trek continues to dominate the mountain bike market with innovative designs and a strong global presence. Its recent acquisition of Bontrager has solidified its position as a leader in cycling technology, with a focus on durable, high-performance mountain bikes.
2. Specialized Bicycle Components
Specialized is another major player investing heavily in electric mountain bikes and sustainable technologies. Their partnerships and acquisitions, such as the purchase of AeroTech Designs, have helped them maintain a competitive edge.
3. Giant Manufacturing Co.
Giant, one of the largest bicycle manufacturers globally, has expanded its range of mountain bikes to cater to a diverse consumer base. Recent innovations in lightweight frame materials and suspension systems have made Giant a household name in the cycling industry.
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