Accordingto MRFR analysis, the global Mountain Bike market isexpected to register a CAGR of ~11% from 2022 to 2030 and hold a value of over
USD 18 billion by 2030.
Amountain bike (MTB) is a type of bicycle designed for off-road cycling,
specifically for use on rough terrains such as mountains and other challenging
terrains. It features a durable frame, wide tires, and suspension systems to
absorb shocks and vibrations. With lockdowns and restrictions on movement, many
people turned to outdoor activities, including cycling, as a means of staying
active and getting fresh air.
Thisresulted in a surge in demand for mountain bikes, leading to increased sales
and profits for manufacturers and retailers. Additionally, many people who were
previously hesitant to invest in a mountain bike saw the pandemic as an
opportunity to take up a new hobby, further boosting demand for these bikes.
Overall, the COVID-19 pandemic has had a positive impact on the mountain bike
industry.
Regional Analysis
NorthAmerica is expected to dominate the global mountain bike market in the coming
years. This can be attributed to factors such as a growing number of cycling
enthusiasts, a supportive regulatory environment, and the presence of several
leading manufacturers and suppliers in the region. Additionally, the rise in
popularity of outdoor activities, coupled with the growth of the health and
wellness industry, is expected to drive the demand for mountain bikes in North
America, further consolidating its position as a key player in the market.
Mountain Bike Market Future Demand:
Thedemand for mountain bikes is expected to grow in the future, driven by
increasing consumer interest in outdoor activities and the desire for
adventure. The growth in the popularity of mountain biking as a sport and a
recreational activity is likely to drive the demand for high-end mountain
bikes. Additionally, the rise of e-mountain bikes is expected to further drive
the market, as these bikes offer a more accessible and convenient option for
riders of all skill levels.
Moreover,the increasing trend of healthy living and eco-friendly transportation is
likely to drive the demand for mountain bikes, as they provide a low-impact,
sustainable way to stay active and explore the outdoors. With advancements in
technology and design, mountain bikes are becoming lighter, stronger, and more
efficient, which is also contributing to their growing popularity.
Overall,the future outlook for the mountain bike market is positive, with an expected
increase in demand from consumers across the globe. However, it is important to
note that the market is highly competitive, with several established players,
as well as new entrants, vying for market share.
Market Segmentation
TheGlobal Mountain Bike market has been segmented into type and application.
Basedon the type, the market has been segmented into New Energy Engines, Gasoline,
Diesel, And Others.
Basedon the application, the market has been segmented into Passengers Vehicles,
Commercial cars, And Others.
Key Players
Someof the key market players are BRP, Textron Inc, Yamaha Motor Co. Ltd, Honda
Motor Co. Ltd, Polaris Industries Inc.
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