by Mountain Bike Market is in Growth Through Increasing Trend of Outdoor Recreation The mountain bike market allows riders to experience thrill and adventure through off-road cycling. Mountain bikes are specifically designed for cycling on rough terrains and are equipped with features like large and rugged tires, front suspension, and high strength frames. The growing popularity of extreme sports and adventure outdoor activities has driven the demand for mountain bicycles. Mountain biking provides an exciting full body workout and is an eco-friendly way to experience varied natural trails and landscapes.
The global mountain bike market is estimated to be valued at US$ 11.42 billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the mountain bike market include Beistegui Hermanos SA,
Cannondale, CUBE Bikes, Cycling Sports Group Inc., Dorel Industries Inc., Derby Cycle
Holding GmbH, Giant Bicycles, GT Bicycles, Merida Industry Co. Ltd., Norco Bicycles,
Pivot Cycles, SCOTT Sports, Santa Cruz Bicycles LLC, Trek Bicycle Corporation, and TRINX. These leading players are focusing on new product launches and innovations to cater to the growing demand.
Growing demand:
Mountain Bike Market demand is indirectly influenced by the growing popularity of outdoor recreational activities, including mountain biking, amid changing lifestyle preferences. Increasing health consciousness and preference for environment-friendly cycling are also propelling the sales of mountain bikes globally.Moreover, the expanding network of dedicated cycling trails and tracks in different regions is encouraging more people to try mountain biking.
Global expansion:
Leading mountain bike manufacturers are investing heavily in global expansion strategies to tap opportunities in emerging markets. The industry players are strategically opening new manufacturing and assembly units as well as company-owned retail stores across countries in Asia Pacific, Latin America, and Middle East & Africa. Collaboration with local vendors and distribution partners is also helping the key companies to strengthen their international foothold.
Market key trends
Electric mountain bikes are gaining popularity as they assist riders through electric pedal assistance without compromising on the thrill. This has removed some of the limitations for riders and made mountain biking more inclusive. Furthermore, advanced full suspension frames and lightweight alloy materials are being increasingly used in premium mountain bikes to enhance comfort, control, and performance over tough terrains. Carbon fiber use is also growing to build durable yet lightweight mountain bikes suitable for cross-country and enduro cycling.
Porter’s Analysis
Threat of new entrants: The mountain bike market requires high fixed cost investments in specialized equipment and supply chains, creating barriers to entry.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and branded products available from various manufacturers.
Bargaining power of suppliers: Few key suppliers dominate in the market giving them strong bargaining power over manufacturers for raw materials like aluminum and carbon fiber.
Threat of new substitutes: Threat of substitution is low due to lack of close substitutes for mountain bikes which provide off-roading experience.
Competitive rivalry: The market is highly competitive with presence of global brands and private label products.
Geographical Regions
Mountain Bike Market Regions Analysis shows that North America accounts for the largest share in the global mountain bike market in terms of value. This is attributed to high participation rates in mountain biking sports and cycling activities in countries like the US.”
Asia Pacific region is expected to witness the fastest growth during the forecast period attributable to rising health consciousness, increasing spending capacities, and growing popularity of mountain biking as a recreational sport in emerging countries like China and India.
Geographical Regions
The mountain bike market in Europe holds the second largest share in terms of value globally. Countries such as Germany, France, Italy and UK have well-established mountain biking cultures and cycling infrastructure that attract significant revenues. Presence of leading manufacturers also boosts regional market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya
Ravina Pandya,Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. LinkedIn
