Bicycle Tire Market
Tubeless Bicycle Tires to Account for Over 40% of Worldwide Sales: Persistence Market Research
NEW YORK CITY, NEW YORK, UNITED STATES, September 19, 2022 /EINPresswire.com/ — The world “bicycle tire market” is projected to expand at a CAGR of close to 8% over the forecast period of 2021-2031.
Rising recognition of sporting and leisure actions has pushed aftermarket tire gross sales, owing to common requirement for tire upkeep companies. The manufacturing sector has skilled substantial progress in recent times, and this development is anticipated to proceed in the future.
Bicycle tires will expertise larger gross sales than ever earlier than as demand for bicycles, particularly e-bikes, mountain bikes, and highway bikes, surges throughout areas. Tubeless tires shall be in significantly excessive demand, and the want for elevated grip and hassle-free driving expertise will proceed to develop over the coming years.
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Company Profiles:
Cheng Shin Rubber Ind Co., Ltd.
HUTCHINSON
Trek Bicycle Corporation
The Goodyear Tire & Rubber Company
Specialized Bicycle Components
MICHELIN
Mitas
bicycle-tire-market
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Key Takeaways from Market Study
Low-cost manufacturing in Southeast Asia and Africa, in addition to new transportation routes, are anticipated to gas demand for bicycle tires by opening up vital logistic alternatives.
Government legal guidelines and laws that implement the provision of incentives for the adoption of e-bikes are in place in European nations reminiscent of Germany, Denmark, and the Netherlands, which is able to enhance gross sales of bicycle tires.
Tubeless tires to account for over 40% of the world market worth due to functionality of steadiness, much less frequent punctures, and higher grip.
Due to a constructive outlook for bicycle gross sales, demand in South Asia and Asia Pacific is rising. Aggressive advertising and marketing of potential distributors in key nations in South Asia and Pacific, in addition to MEA, might profit gamers in these areas much more.
Around half of world bicycle tire gross sales are projected to come from East Asia.
Tire measurement 12-22 inches can be the most in demand, accounting for practically 40% of complete market share.
Aftermarket gross sales channel to account for practically two-third of general of bicycle tires.
“Increasing traffic and deteriorating congestion & air quality are putting the spotlight on cycling as an environment-friendly mode of transportation, thereby catalyzing demand for bicycle tires,” says a Persistence Market Research analyst.
Market Landscape Identified to Be Fairly Fragmented
The world bicycle accent market has been characterised as a extremely fragmented house, with the unorganized sector accounting for a significant slice of the complete market.
Some of the main market contributors included on this report are Cheng Shin Rubber Ind Co., Ltd., HUTCHINSON, Trek Bicycle Corporation, The Goodyear Tire & Rubber Company, Specialized Bicycle Components, MICHELIN, Mitas, Pirelli & C. S.p.A., Giant Bicycles, and Continental AG, who account for a fair proportion of the market.
To improve market footprint, key gamers are specializing in analysis and innovation for the improvement of higher merchandise. To meet the wants of an rising buyer base, producers are pursuing strategic alliances with regional finish customers, distributors, and different market contributors. Key gamers are collaborating and forming alliances with different regional gamers and automobile producers.
Conclusion
Due to rising bicycle gross sales and an rising quantity of individuals choosing environment-friendly e-bikes, demand for bicycle tires will develop considerably. Environmental legislations are additionally placing strain on producers to develop merchandise that incorporate technological developments. The bicycle accent market is additionally anticipated to develop due to low-cost components manufacturing in Southeast Asia in addition to new transportation corridors in the making.
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Want to Know More?
Persistence Market Research, a analysis and consulting agency, has revealed a revised market analysis report on the bicycle tire market that incorporates world business evaluation of 2016-2020 and alternative evaluation for 2021-2031. The report offers in-depth evaluation of the market by means of completely different segments, particularly, product kind, tire measurement, gross sales channel, bicycle, and area.
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