Press release
Mountain Bike Market to Reach USD 15.49 Billion by 2030, Growing at 12% CAGR
Mountain Bike Market
The global mountain bike market is witnessing significant expansion, with projections indicating a rise from USD 7.01 billion in 2023 to approximately USD 15.49 billion by 2030, reflecting a compound annual growth rate (CAGR) of 12% during the forecast period. This growth is driven by increasing consumer interest in outdoor recreational activities and advancements in mountain bike technologies.
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Competitive Landscape and Regional Demand
The market is characterized by the presence of key players such as Giant Manufacturing Co. Ltd, Trek Bicycle Corporation, Scott Sports SA, and Specialized Bicycle Components, among others. These companies are continually innovating to meet the evolving demands of consumers. Notably, North America holds a substantial market share, attributed to a strong culture of recreational activities and numerous mountain biking competitions. The region's well-established infrastructure and supportive government initiatives further bolster its dominance in the market.
United States: Growth and Consolidation
In the United States, the mountain bike market is experiencing robust growth, driven by a high participation rate in cycling activities and a strong culture of recreational pursuits. The presence of major manufacturers like Pivot Cycles and Trek Bicycle Corporation contributes to the market's expansion. Recent mergers and acquisitions, such as Vista Outdoor's agreement to sell its Revelyst business unit-which includes bike-related brands-to Strategic Value Partners for $1.125 billion, indicate a trend towards consolidation within the industry.
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Segmentation Analysis
by Type
Cross Country Bikes
All Mountain Bikes
Downhill Bikes
Freeride Bikes
Dirt Jumping Bikes
Others
The market is divided into five segments: cross country bikes, all mountain bikes, downhill bikes, freeride bikes, and dirt jumping bikes. Cross country bikes had the biggest market share in the global market and are expected to maintain their dominance during the projection period. Cross country bikes are the most popular and commonly purchased. These bikes are ideal for long rides across extensive forests and nature trails. These bikes are not designed to withstand severe heavy activities or high forces, but rather to have a robust endurance.
by Products
E-Mountain Bikes
Standard Mountain Bikes
by Application
Racing
Leisure
by Distribution Channel
Offline
Online
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Key Market Participants:
1. Giant Bicycles
2. Cannondale
3. Pivot Cycles
4. TRINX
5. SCOTT Sports
6. Trek Bicycle Corporation
7. XDS BICYCLES
8. Xidesheng Bicycle Company
9. CUBE Bikes
10.Diamondback Bicycles
11.Beistegui Hermanos SA
12.Cycling Sports Group Inc.
13.Derby Cycle Holding GmbH
14.Dorel Industries Inc.
15.Merida Industry Co. Ltd.
16.GT Bicycles
17.Norco Bicycles
18.Santa Cruz Bicycles LLC
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