Table of Contents
Is mountain biking growing in popularity?
Thanks to more trails, better bikes and a rise of high-school interest, mountain biking has experienced a meteoric rise of popularity in the past decade. The pandemic added fuel to the fire.
Is the biking industry growing?
The global bicycle market size was valued at USD 59.33 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2030. The increase in the number of people opting for bicycling as a form of leisure is anticipated to propel market growth.
How big is the mountain biking industry?
Mountain bike market size was USD 3.51 Billion in 2020 and is expected to register a revenue CAGR of 5.3% during the forecast period.
Why has mountain biking become so popular?
Mountain bikes have become so popular because they allow you to enjoy nature, exploring your surroundings, and traveling to new places will have a therapeutic effect. Yes, you can hike but you won’t be able to travel the same distances as with a mountain bike, so you will miss out on some fantastic views.
How is the bike industry changing?
The Bicycle Boom Continues High fuel prices, increasingly bikeable infrastructure, and people’s drive for exercise and nature mean one thing: The bicycle boom is far from over! According to European Cycling Federation (ECF), the number of bicycles sold will increase by about a third to 30 million by 2030.
Will the demand for bicycles rise in the future?
Bicycle demand expected to grow at decadal high of 20% due to pandemic-induced fitness awareness, says Crisil – The Economic Times.
Are mountain bikes still in short supply?
Moving forward, there will continue to be shortages and long waits with most bike brands, even as some components start to reappear online and in your local bike shop. While your LBS may be flush with SRAM parts, Evil’s order is at a different queue and they may have to wait for other components once those arrive.
What is the mountain bike industry worth?
By the latest valuation of the cycling industry (Source BAGB, 2018) our industry is worth £5.4 billion to the UK and is one of few growth industries in the context of the Covid-19 outbreak.
What percentage of Americans ride mountain bikes?
40 million people from the US participate in mountain biking annually. Meaning just over 10% of the US population rides mountain bikes.
What is the market size of the mountain bike industry?
A short-term phased recovery by key geography is also addressed. Amid the COVID-19 crisis, the global market for Mountain Bike estimated at 44.2 Million Units in the year 2020, is projected to reach a revised size of 78.5 Million Units by 2027, growing at a CAGR of 8.6% over the period 2020-2027.
How is the global high-end bicycle market segmented?
Global High-End Bicycle Market – The global high-end bicycle market is segmented by distribution channels (offline and online), product (hybrid bikes, mountain bikes, road bikes, track bikes, and others), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
What are the sub-segmentation of the bike market?
Based on Type, the market is sub-segmented into Cross Country Bikes, All Mountain Bikes, Downhill Bikes, Freeride Bikes and Dirt Jumping Bikes. Cross country bikes held the largest market share of the global market and maintaining its dominance remains the same in the forecast period.
Are women mountain bikers the future of the mountain biking market?
Although the rise in women mountain bikers will offer immense growth opportunities. However, an increase in accidents and crashes, and related injuries is likely to pose a challenge for the market vendors.