According to MRFR analysis, the global Mountain Bike market is expected to register a CAGR of ~11% from 2022 to 2030 and hold a value of over USD 18 billion by 2030.
A mountain bike (MTB) is a type of bicycle designed for off-road cycling, specifically for use on rough terrains such as mountains and other challenging terrains. It features a durable frame, wide tires, and suspension systems to absorb shocks and vibrations. With lockdowns and restrictions on movement, many people turned to outdoor activities, including cycling, as a means of staying active and getting fresh air.
This resulted in a surge in demand for mountain bikes, leading to increased sales and profits for manufacturers and retailers. Additionally, many people who were previously hesitant to invest in a mountain bike saw the pandemic as an opportunity to take up a new hobby, further boosting demand for these bikes. Overall, the COVID-19 pandemic has had a positive impact on the mountain bike industry.
Regional Analysis
North America is expected to dominate the global mountain bike market in the coming years. This can be attributed to factors such as a growing number of cycling enthusiasts, a supportive regulatory environment, and the presence of several leading manufacturers and suppliers in the region. Additionally, the rise in popularity of outdoor activities, coupled with the growth of the health and wellness industry, is expected to drive the demand for mountain bikes in North America, further consolidating its position as a key player in the market.
Mountain Bike Market Future Demand:
The demand for mountain bikes is expected to grow in the future, driven by increasing consumer interest in outdoor activities and the desire for adventure. The growth in the popularity of mountain biking as a sport and a recreational activity is likely to drive the demand for high-end mountain bikes. Additionally, the rise of e-mountain bikes is expected to further drive the market, as these bikes offer a more accessible and convenient option for riders of all skill levels.
Moreover, the increasing trend of healthy living and eco-friendly transportation is likely to drive the demand for mountain bikes, as they provide a low-impact, sustainable way to stay active and explore the outdoors. With advancements in technology and design, mountain bikes are becoming lighter, stronger, and more efficient, which is also contributing to their growing popularity.
Overall, the future outlook for the mountain bike market is positive, with an expected increase in demand from consumers across the globe. However, it is important to note that the market is highly competitive, with several established players, as well as new entrants, vying for market share.
Market Segmentation
The Global Mountain Bike market has been segmented into type and application.
Based on the type, the market has been segmented into New Energy Engines, Gasoline, Diesel, And Others.
Based on the application, the market has been segmented into Passengers Vehicles, Commercial cars, And Others.
Key Players
Some of the key market players are BRP, Textron Inc, Yamaha Motor Co. Ltd, Honda Motor Co. Ltd, Polaris Industries Inc.
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