Revealed February 24, 2023
By 2023, the bicycle tyres Market place is expected to be well worth US$7.272 Billion, according to Persistence Industry Analysis. The climbing fleet of bicycles and high gas bills are driving the growth. On top of that, the increased value of fuel has prompted vehicle homeowners to hunt for much more eco-welcoming and successful substitutes. By 2033, the industry for bicycle tyres is expected to have developed to US$ 15.411 billion, with a 7.8% CAGR from 2023 to 2033.
As need for bicycles, particularly e-bikes, mountain bikes, and highway bikes, soars all through places, bicycle tyres will see bigger gross sales than ever in advance of. The demand for much more grip and a hassle-free riding expertise will expand above the upcoming decades, and tubeless tyres will be in particular significant demand.
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Vital Takeaways from Sector Study
- Minimal-value manufacturing in Southeast Asia and Africa, as perfectly as new transportation routes, are anticipated to fuel demand for bicycle tires by opening up significant logistic opportunities.
- Government guidelines and regulations that enforce the provision of incentives for the adoption of e-bikes are in place in European nations around the world these kinds of as Germany, Denmark, and the Netherlands, which will strengthen sales of bicycle tires.
- Tubeless tires to account for above 40% of the world market place price thanks to functionality of steadiness, much less recurrent punctures, and improved grip.
- Owing to a good outlook for bicycle sales, desire in South Asia and Asia Pacific is escalating. Intense advertising and marketing of future distributors in vital nations around the world in South Asia and Pacific, as nicely as MEA, may well profit players in these regions even a lot more.
- All-around 50 % of world wide bicycle tire product sales are projected to arrive from East Asia.
- Tire dimension 12-22 inches would be the most in demand, accounting for just about 40% of overall current market share.
- Aftermarket product sales channel to account for just about two-third of in general of bicycle tires.
“Increasing traffic and deteriorating congestion & air good quality are placing the highlight on cycling as an surroundings-welcoming method of transportation, thereby catalyzing need for bicycle tires,” says a Persistence Marketplace Investigation analyst.
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Sector Landscape Recognized to Be Quite Fragmented
The worldwide bicycle accessory market place has been characterised as a very fragmented space, with the unorganized sector accounting for a considerable portion of the total market place.
Some of the primary market place contributors bundled in this report are Cheng Shin Rubber Ind Co., Ltd., HUTCHINSON, Trek Bicycle Company, The Goodyear Tire & Rubber Corporation, Specialised Bicycle Factors, MICHELIN, Mitas, Pirelli & C. S.p.A., Large Bicycles, and Continental AG, who account for a truthful share of the sector.
To boost marketplace footprint, critical players are focusing on study and innovation for the advancement of much better merchandise. To meet up with the desires of an increasing shopper foundation, manufacturers are pursuing strategic alliances with regional stop consumers, distributors, and other market participants. Vital players are collaborating and forming alliances with other regional players and vehicle producers.
Want to Know More?
Persistence Market place Investigate, a study and consulting business, has published a revised market place research report on the bicycle tire current market that incorporates world wide industry examination of 2016-2020 and prospect evaluation for 2021-2031. The report delivers in-depth investigation of the current market by different segments, specifically, merchandise style, tire measurement, profits channel, bicycle, and location.
Key Industry Segments Included
Product or service Variety
- Tube Bicycle Tires
- Tubeless Bicycle Tires
- Solid Bicycle Tires
- Up to 12 Inch Bicycle Tires
- 12 to 22 Inch Bicycle Tires
- Above 22 Inch Bicycle Tires
- Mountain Bicycle Tires
- Hybrid Bicycle Tires
- Electric powered Bicycle Tires
- Ease and comfort Bicycle Tires
- Youth Bicycle Tires
- Cruiser Bicycle Tires
- Street Bicycle Tires
- Bicycle Tires Sold through OEMs
- Bicycle Tires Marketed in Aftermarket
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- North The usa
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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