The Bicycle Tire Market to witness subscription-based vehicle usership

The global bicycle tire market is projected to expand at a CAGR of close to 8% over the forecast period of 2021-2031.

Rising popularity of sporting and recreational activities has driven aftermarket tire sales, owing to regular requirement for tire maintenance services. The manufacturing sector has experienced substantial growth in recent years, and this trend is expected to continue in the future.

Bicycle tires will experience higher sales than ever before as demand for bicycles, especially e-bikes, mountain bikes, and road bikes, surges across regions. Tubeless tires will be in particularly high demand, and the need for increased grip and hassle-free riding experience will continue to grow over the coming years.

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Key Players:

The report has profiled some of the Important players prevalent in the global like - 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 and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Bicycle Tire.

Key Takeaways from Market Study

Low-cost manufacturing in Southeast Asia and Africa, as well as new transportation routes, are expected to fuel demand for bicycle tires by opening up significant logistic opportunities.
Government laws and regulations that enforce the provision of incentives for the adoption of e-bikes are in place in European countries such as Germany, Denmark, and the Netherlands, which will boost sales of bicycle tires.
Tubeless tires to account for over 40% of the global market value due to capability of steadiness, less frequent punctures, and better grip.

Due to a positive outlook for bicycle sales, demand in South Asia and Asia Pacific is increasing. Aggressive marketing of prospective distributors in key countries in South Asia and Pacific, as well as MEA, may benefit players in these regions even more.

Around half of global bicycle tire sales are projected to come from East Asia.
Tire size 12-22 inches would be the most in demand, accounting for nearly 40% of total market share.
Aftermarket sales channel to account for nearly two-third of overall 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.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

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Major Highlights of the Bicycle Tire Market Report:

The Bicycle Tire Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Bicycle Tire Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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This release was published on openPR.