Press release
Mountain Bike Market Accelerates to US $15.5 Billion by 2030 on 12% CAGR
Mountain Bike Market
The global mountain bike market, valued at US $7.01 billion in 2023, is set to soar to US $15.49 billion by 2030, expanding at a robust 12% CAGR between 2024 and 2030.
Market Overview
Mountain bikes are engineered for durability and performance across rugged terrains-rocks, loose dirt, mud, grass, and steep slopes. Increasing female participation, with brands like Liv introducing gender-specific designs, is energizing market growth.
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Competitive Landscape
Major players shaping this dynamic industry include: Giant Bicycles, Cannondale, Pivot Cycles, TRINX, SCOTT Sports, Trek Bicycle Corporation, XDS BICYCLES, Xidesheng Bicycle Company, CUBE Bikes, Diamondback Bicycles, Beistegui Hermanos SA, Cycling Sports Group Inc., Derby Cycle Holding GmbH, Dorel Industries Inc., Merida Industry Co. Ltd., GT Bicycles, Norco Bicycles, and Santa Cruz Bicycles LLC.
Higher Demand in Asia-Pacific Region
While North America dominated the market in 2023, the Asia-Pacific region-spanning China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and others-is emerging as the fastest-growing market.
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Country-Specific Focus
Vietnam - Mountain Bike Opportunities in Vietnam
A surge in adventure tourism and rising disposable income create strong opportunities for mountain bike adoption. Urbanization and growing enthusiasm for healthy outdoor recreation are key drivers.
Thailand - Mountain Bike Trends in Thailand
Thailand's trail infrastructure is improving, and adventure sports tourism continues to attract both locals and foreigners-boosting demand for mid- and high-tier mountain bikes.
Japan - Mountain Bike Growth in Japan
Japan remains a stronghold for component innovation with giants like Shimano leading advancements in derailleur and groupset technologies (e.g., Di2 XTR), while rising eco-consciousness and compact outdoor spaces bolster local adoption.
South Korea - Mountain Bike Consolidation in South Korea
As South Korea strengthens its cycling infrastructure and urban trail systems, we expect consolidation among local retail channels and growing partnerships with global brands.
Singapore - Mountain Bike Updation in Singapore
With limited space but growing fitness trends, Singapore is leaning on high-tech urban cycling solutions and customized lightweight mountain bikes.
United States - Mountain Bike Growth in the US
Accounting for ~29% of global market share, the US drives full-suspension and cross-country demand-particularly in urban adventure segments-reflecting a shift to experiential, fitness-oriented biking.
China - Mountain Bike Opportunities in China
China's massive production capacity, mature supply chains, and growing middle class contribute to strong domestic demand and dominance in export markets.
Europe - Mountain Bike Trends in Europe
Europe shows stable and steady growth, with high participation in outdoor sports, strong brand presence, and a rising preference for e-mountain bikes and premium models.
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Mountain Bike Market Segment Analysis:
by Type
Cross Country Bikes
All Mountain Bikes
Downhill Bikes
Freeride Bikes
Dirt Jumping Bikes
Others
by Products
E-Mountain Bikes
Standard Mountain Bikes
by Application
Racing
Leisure
by Distribution Channel
Offline
Online
Mergers & Acquisitions Highlights
In Japan, Shimano's roll-out of the wireless Di2 XTR groupset illustrates internal innovation rather than a merger, but signals high R&D investment in components.
Europe and the US have seen increased strategic alliances between OEM bicycle manufacturers and component makers, though specific merger activity is sparse in current sources.
Given limited data, deeper intelligence would be needed for a full M&A landscape, particularly in Vietnam, Thailand, Singapore, South Korea, and China, where bespoke collaborations may be forming.
Key Recent Developments
Shimano (Japan) unveiled the next-generation wireless Di2 XTR mountain bike groupset for 2025-2026; the rear derailleur now integrates the battery within its body for improved performance.
The US continues to register sharp demand growth for full-suspension bikes, indicating a shift toward advanced performance segments.
Globally, there's escalating interest in cross-country and e-mountain bike models, with innovation focusing on lightweight frames, advanced suspension systems, and customization features.
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