Bicycle Tire Market was valued at US$ 7.37 Bn in 2022 and expected to grow at a CAGR of 6.3% during the forecast period (2023-2029). Thanks to the growing trend of tubeless tire use which has boosted demand for Global Bicycle Tire Market.
Bicycle Tire Market Overview:
In order to forecast revenues and analyze trends in each of the below-listed sub-markets, this study classifies the Bicycle Tire Market.
In order to assist the vendor in defining a fit or alignment between their capabilities and potential future growth, the Competition Strategic Window studies the competitive environment with respect to markets, applications, and geographic areas.
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Bicycle Tire Market Scope:
In-depth understanding of the industry and competitive environment is given to readers through the Bicycle Tire Industry study, assisting them in making more informed decisions on market expansion and growth. A participant summary, revenue data, capital investment, and global Bicycle Tire market growth rates are all included in the report.
Bicycle Tire Market Segmentation:
The tubed, tubeless, and airless segments of the worldwide bicycle tire market are subdivided based on product segment. With a 52% share in 2023, the tubeless segment dominated the global market. These tires don't have an air-holding tube, as their name suggests. When the tire is pressured, the improved tubeless rim design and tire beads cause the air to lock. Tubeless tires are highly sought after in the market due to its ability to self-repair, superior traction, improved ride quality, increased momentum, and faster running speed. As a result, throughout the course of the forecast period, the tubeless tire market is anticipated to expand at a CAGR of 4.3%.
The global bicycle tire market is divided into two sub-segments: on-road and all-terrain, based on the Application Segment. The on-road market is the largest in the world and was estimated to be worth US$ 3.3 billion in 2022. The expansion of the on-road segment can be attributed to several causes, including the rising demand for well-designed bicycles, the manufacturing of e-bikes, high durability, workability, and greater readability. Because off-road tires are less durable, more expensive to upgrade, have less rolling resistance, and are more easily damaged by uneven surfaces, they are less popular.
1 Bicycle Tire Market, by Product (2023-2029)
• Tubed
• Tubeless
• Airless
2 Bicycle Tire Market, by Application (2023-2029)
• On-road
• All terrain
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Bicycle Tire Market Key Players: The key players are
• Vittoria
• Continental AG
• Apollo
• Vredestein
• Maxis
• Challenge Tires
• Hutchinson SA
• Freedom Bicycle
• Michelin
• Kenda Tires
• Schwalbe
• Suomi Tyres
• Panaracer Corporation
• Fyxation Bicycle Co.
• Cheng Shin Rubber
• Bridgestone
• Trek Bicycle Corporation
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Regional Analysis:
After a careful analysis of numerous regions, including Asia-Pacific, Europe, North America, and the rest of the world, the Bicycle Tire market projection research was produced. North America will remain a significant shareholder in the global Bicycle Tire market and has the most influence over the Bicycle Tire market share.
COVID-19 Impact Analysis on Bicycle Tire Market: The COVID-19 impact on the Bicycle Tire market is also included in the report
Key Questions Answered in the Bicycle Tire Market Report are:
- What will be the CAGR of the Bicycle Tire market during the forecast period?
- Which segment emerged as the leading segment in the Bicycle Tire market?
- Which are the prominent players in the Bicycle Tire market?
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