Press release
Mountain Bike Industry to See Robust Expansion, Valued at $13.77 Billion by 2029
Mountain Bike Market
What Is the Projected CAGR for the Mountain Bike Market from 2024 to 2025?
There has been significant expansion in the mountain bike market in the past few years. The market's size is projected to rise from $9.27 billion in 2024 to $9.99 billion in 2025, registering a compound annual growth rate (CAGR) of 7.7%. This growth during the historical period can be credited to factors such as the upsurge in adventure tourism, a rise in the involvement in outdoor sports, heightened health awareness, the growing popularity of cross-country contests, and an increase in disposable income.
What are the Expected Market Size and CAGR for Mountain Bike by 2029?
We anticipate significant expansion in the mountain bike market size in the subsequent years, with projections showing a rise to $13.77 billion by 2029, facilitated by a compound annual growth rate (CAGR) of 8.4%. Several factors fuel this predicted growth within the forecast period, such as the escalating demand for e-mountain bikes, an increase in women engaging in mountain biking, a heightened emphasis on environmentally friendly transportation, the addition of more global mountain biking events, and the rise of adventure tourism in developing economies. The trend forecast for this period identifies the incorporation of intelligent technologies, an upsurge in specific bike designs, growth in mountain biking infrastructure, the creation of superior-performance suspension systems, and the boom in adventure and eco-tourism as significant contributing factors.
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Which Factors Are Driving the Global Mountain Bike Market Expansion?
The rising interest in sports and adventure activities is set to spur the development of the mountain bike industry. These activities encompass physical workouts and challenges, both competitive and recreational, such as football, climbing or hiking. The current trend is driven by a growing awareness of health, a yearning for unique experiences, and a newfound interest in outdoor leisure. Mountain bikes empower these activities by offering robust, high-performing gear for different terrain types, allowing bikers to navigate tough trails and relish in exhilarating outdoor activities. For example, a study by the US-based Sports & Fitness Industry Association (SFIA) in February 2024 stated that participation in winter sports, team sports, racquet sports, and water sports grew over 9% in 2023, spearheaded by winter sports with growth of 22%. Additionally, pickleball popularity skyrocketed by 51.8% from 2022, and the overall sports and fitness participation count hit 242 million Americans, a 2.2% rise from the year before. Hence, the escalating interest in sports and adventure activities fuels the mountain bike industry's growth.
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Which Segment Currently Holds the Largest Share of the Mountain Bike Market?
The mountain bike market covered in this report is segmented -
1) By Types: Cross Country Bikes, Trail Mountain Bikes, Downhill Bikes, All Mountain Bikes, Dirt Jumping Bikes, Freeride Bikes, Other Types
2) By Distribution Channel: Specialty Bicycle Retailers, Mass Merchants, Full-Line Sporting Goods Store, Outdoor Specialty Store, Other Distribution Channels
3) By Applications: Leisure, Competition
4) By End User: Recreational Or Amateur Riders, Professional Or Elite Riders
Subsegments:
1) By Cross Country Bikes: Hardtail Cross Country Bikes, Full Suspension Cross Country Bikes
2) By Trail Mountain Bikes: Short Travel Trail Bikes, Long Travel Trail Bikes
3) By Downhill Bikes: Full Suspension Downhill Bikes, Gravity Bikes
4) By All Mountain Bikes: Enduro Bikes, Adventure Mountain Bikes
5) By Dirt Jumping Bikes: Hardtail Dirt Jump Bikes, Full Suspension Dirt Jump Bikes
6) By Freeride Bikes: Full Suspension Freeride Bikes, Specialized Jump and Stunt Bikes
7) By Other Types: Fat Bikes, Electric Mountain Bikes (E-MTB)
Which Major Trends Are Shaping the Future of the Mountain Bike Industry?
Leading entities in the mountain bike market are raising their competitive edge by innovating products like lightweight, high-performance mountain bikes to improve durability, enhance bike operation and boost the rider's experience. Such bikes are designed to couple strength, speed, and flexibility while minimizing overall weight, and are generally constructed with cutting-edge materials like carbon fibre or aluminium for lightness and resilience. An instance of this is the launch of the Rockrider RACE 900S by Decathlon, a sports retail company based in France, in September 2023. Designed for both competitive racers and leisurely riders, this adaptable mountain bike, with its fully suspended cross-country setup and lightweight carbon frame, offers leading-edge specifications that rival more premium models. The RACE 900S utilizes a carbon fibre frame and a single-pivot, linkage-driven suspension system, which delivers 120mm of travel and enables efficient power transmission and climbing prowess, making it perfect for XCO (cross-country Olympic) and XCM (cross-country marathon) events. It features an SRAM AXS drivetrain with an optional GX AXS components inclusion, as well as SRAM Level T brakes. Traction and performance are further refined by the addition of Hutchinson Kraken Racing Lab tyres.
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Which Key Players Dominate the Mountain Bike Industry Globally?
Major companies operating in the mountain bike market are Giant Manufacturing Co. Ltd., Dorel Industries Inc., Merida Industry Co. Ltd., Trek Bicycle Corporation, Specialized Bicycle Components, Cube Bikes, Orbea, Cannondale Bicycle Corporation, Santa Cruz Bicycles, BMC Switzerland, Gary Turner (GT) Bicycles, Norco Bicycles, Pivot Cycles, Yeti Cycles, Fuji Bikes, Intense Cycles, Rocky Mountain Bicycles, Scott Sports, Alta Cycling Group, Mongoose Bikes, Haro Bikes, Trinx Bikes, Transition Bikes, Kona Bicycle Company, Diamondback Bicycles
What Are the Fastest-Growing Regions in the Mountain Bike Market?
North America was the largest region in the mountain bike market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mountain bike market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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