Bicycle Tires Market Size To Reach US$ 32.31 Bn By Year 2028 | CAGR Of 24.70%

Market Overview:
The Global Bicycle Tires market was valued at USD 6.89 billion in 2021 and is expected to reach USD 32.31 billion by the year 2028, at a CAGR of 24.70%.

A bicycle tire is a tire that uses for bicycles or other similar vehicle wheels. These tires can be used on wheelchairs, handcycles, and tricycles, often for racing. The lateral forces required for balance and turning, the longitudinal forces required for propulsion and braking, and an important source of suspension are all produced by bicycle tires. Although using pneumatic tires significantly reduces rolling resistance compared to using rigid wheels or solid tires, on a level road, power consumption from tires is often second only to wind resistance (air drag). The popularity and eventual supremacy of the safety bicycle were aided by the modern detachable pneumatic bicycle tire.

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Market Dynamics:

Driver:

The primary reasons propelling the expansion of the bicycle tire market are increased public knowledge of the health benefits of riding, including improved mental health, immune system bolstering, weight loss, increased lung health, and a reduction in heart disease. The use of bicycles reduces air and noise pollution. Such factors indicate that the health, environmental, and economic benefits of bicycles will contribute to the growth of the global bicycle market. it is also helpful for individuals and the environment.

Opportunities:

The presence of a large population in the Asia-Pacific region is contributing to huge global emissions, as a result, As a result, Cities around the country are seeing an increase in the number of government organizations that encourage bicycling as a healthy and environmentally friendly mode of transportation. In the future, these factors are projected to support demand for bicycle tires. This is the major driving factor for market growth. European countries with established laws and regulations, such as Germany, Denmark, and the Netherlands, require the supply of incentives for the use of e-bikes.

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Segmentation Analysis of Bicycle Tires Market:
By Product Type, Bicycle Tires market is segmented into tube tires, tubeless tires, and solid tires. Among which, the tubeless tires hold 35.21% of the market share in the year 2020 with an estimated CAGR of 3.95%, and the solid tire held the market share of 44.23% in the year 2020 with the CAGR of 5.14% and is expected to have Bicycle Tires market size of USD 4.03 billion in the year 2026.

By Bicycle Type
• Mountain
• Hybrid
• Electric
• Comfort
• Others

By Product Type
• Tube Tire
• Tubeless Tire
• Solid Tire

Regional Insights:
The Bicycle Tires market is growing rapidly in the Asia-Pacific region. Asia-Pacific region is accounted for the largest market share of 55% across the globe with a CAGR of 5.14% and a market size of USD 3.78 billion in the year 2020. But in Bicycle Tires forecast period, due to the high demand from the regions like China, Japan, Australia, and India, Asia-Pacific is expected to continue the growth of Bicycle Tires market with estimated market size of USD 5 billion in the year 2026. While North-America is estimated to have an Bicycle Tires market size of USD 1.33 billion in the year 2026 with a CAGR of 4.82% due to the majority of the population adapting a healthy way for the lifestyle to avoid diseases like obesity.

By Region
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
South America (Brazil, Argentina, Rest of SA)

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Major Key Players Considered in the Market
• Vittoria, Continental AG,
• Apollo Vredestein,
• Maxxis,
• Challenge Tires,
• Fredom Bicycle,
• Kenda Tires,
• Suomi Tires,
• Cheng Shin Rubber,
• Bridgestone,
• Trek Bicycle Corporation.

Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures And Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?

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