Bicycle Tires Market Growth Framework 2029 | Apollo Tyres Ltd., Cheng Shin Rubber Ind. Co. Ltd. (CST Tires)
The novel coronavirus pandemic may have brought immense losses to businesses and sectors but it has certainly made individuals more aware of the importance of maintaining good health. Activities like cycling and walking have increased greatly in the post-corona era. As the demand for cycles increases, so does the demand for bicycle tires. Hence, the global bicycle tires market may attain good growth during the forecast period of 2019-2029.
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The escalating importance of cycling among a considerable populace is serving as a prominent growth factor for the bicycle tires market. Bicycle tires are available in airless, tubeless, and tube categories. These tires are also customized for on-road and all terrain types.
This bicycle tires market report has extensive information on various aspects associated with bringing growth. Important points such as key trends, mergers and acquisitions, and the regional scenario associated with the bicycle tires market have been analyzed and included in the report. The stakeholders can gain substantial information from this report. This report also has detailed information about the COVID-19 impact on the bicycle tires market.
Bicycle Tires Market: Industrial Prospects
The bicycle tires market is highly fragmented owing to the presence of a large number of local and international players. Research and development activities are helping the bicycle tires market to gain insights for innovations that help in increasing the growth rate.
Manufacturers in the bicycle tires market are always in pursuit of expanding their production facilities to adhere seamlessly to the growing demand. The expansion also assists the players to discover untapped opportunities. Attractive advertising strategies also help the bicycle tires market to expand its footprint across a large consumer base. Social media campaigns also play an important role in increasing the consumer base.
Some key players involved in the bicycle tires market are Apollo Tyres Ltd., Cheng Shin Rubber Ind. Co. Ltd. (CST Tires), The Continental Corporation, and Ralson Ltd.
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Awareness about Sustainable Transport Plays an Important Role in Increasing Growth Rate
The COVID-19 outbreak has led to the emergence of using novel transport mechanisms as a feasible option for public transport to prevent the spread of the virus. People are more inclined now toward using non-motorized options as a means of transport. Therefore, this aspect may bring tremendous growth prospects for the bicycle tires market.
Bicycle Tires Market: Emergence of Fat Tire Bikes
The rising influence of fat tires is inviting tremendous growth opportunities for the bicycle tires market. These tires have enhanced grip and are extra wide. They help in decreasing the cumulative pressure of the bike. These tires also offer high comfort standards and very little maintenance is required. Hence, all these benefits of fat tires may serve as a prominent growth multiplier for the bicycle tires market.
Bicycle Tires Market: Geographical Analysis
Asia Pacific may garner good growth for the bicycle tires market during the assessment period of 2019-2029 due to the rising trend of electric bicycles. The awareness about bicycles is spreading like wildfire in densely populated countries like India and China. Tubeless tires are also acquiring a prominent place through the countries. Hence, all these factors may lay a red carpet of growth across the bicycle tires market.
North America and Europe may also gain substantial growth during the forecast period due to the growing influence of eco-friendly transport through various countries.
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