The bicycle tires market size is predicted to expand significantly over the course of the assessment period due to rising bicycle ownership as a result of the discovery of environmentally favorable alternatives to traditional fossil-fuel powered vehicles, which has increased sales of bicycles. Bicycle tire makers are launching a slew of innovative products, from hybrid bikes to the introduction of tubeless tires, to increase market penetration.
Key Takeaways
- Due to growing concerns over recent high carbon emission levels, sustainable transportation is gaining significant traction. International Energy Agency estimates that global energy-related carbon dioxide emissions increased by about 2% in 2018 to hit 33.1 gigatonnes.
- Around 1.3 billion cars, mostly made of petroleum and diesel, use 79 quadrillion BTU worldwide. Transportation is responsible for 22% of CO2 pollution and 15% of all greenhouse gas emissions. Governments all over the world are constantly attempting to reduce their emission levels by switching to renewable alternatives out of concern for this.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-3128
- Bicycle sales have significantly increased, which has improved the growth prospects for a number of different kinds of bicycle tires over the upcoming forecast period.
- According to the Global EV Outlook Report, hybrid vehicle sales will exceed 2 million units by 2019 as a result of people becoming more environmentally aware. Between 2020 and 2023, the number of e-bikes worldwide is expected to increase by 130 million units, according to FMI estimates.
- Their market is expected to experience an exponential rise due to recent technological developments in the electrification of two and three-wheelers, cars, and buses. Ambitious policy statements have been extremely helpful in accelerating the rollout of electric vehicles in lucrative markets.
- People are growing looking for safer transportation options and avoiding public transportation systems like subway trains, buses, and taxis as the pandemic crisis worsens. E-bike sales have soared as a result of this shift. Leading suppliers of cycling tires have also shifted their focus to e-bikes. According to market trends, e-bike sales are expected to grow at a faster CAGR than conventional bicycle sales, giving bicycle tire makers another lucrative sales channel.
The market for bicycle tires is expected to experience significant growth in the future, driven by several factors including the increasing popularity of cycling as a mode of transportation and the growing trend towards e-bikes and other electric-powered bicycles.
One of the main drivers of growth in the bicycle tire market is the increasing popularity of cycling as a mode of transportation, particularly in urban areas. With more people using bicycles for commuting and other everyday activities, there is a growing demand for high-quality, durable, and efficient tires that can withstand the demands of daily use.
Another key factor driving the growth of the bicycle tire market is the increasing trend towards e-bikes and other electric-powered bicycles. These bikes require specialized tires that can handle the higher speeds and heavier loads associated with electric-assisted cycling. As the market for e-bikes continues to grow, the demand for specialized bicycle tires is expected to increase as well.
Get Your Report Customize, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-3128
Competitive Landscape
The bicycle tire market is known to be moderately competitive, as it comprises the presence of a large number of players offering cost-competitive products. Major players are focusing to curve a niche for specific demography. Manufacturers are focusing on strategic collaborations with regional distributors to address the requirements of an expanding customer base. Suppliers also are adopting acquisition and regional expansion strategies to strengthen their foothold.
Key Companies Profiled
- Cheng Shin Rubber Ind Co., Ltd.
- HUTCHINSON
- Trek Bicycle Corporation
- The Goodyear Tire & Rubber Company
- Specialized Bicycle Components
- MICHELIN
- Mitas
- Pirelli & C. S.p.A.
- Giant Bicycles
- Continental AG
Bicycle tire Market
By Bicycle Type
- Mountain
- Hybrid
- Electric
- Comfort
- Youth
- Cruiser
- Road
By Product Type
- Tube Tire
- Tubeless Tire
- Solid Tire
By Tire Size
- Upto 12 inch
- 12 to 22 inch
- Above 22 inch
By Sales Channel
- OEM
- Aftermarket
Ask the Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-3128
More Insights into the Bicycle Tires Market
The U.S. bicycle tires market was anticipated to surpass US$ 520 Mn by 2021. Over the current estimation period, the global market is expected to surge by nearly 4% through 2030. Maximum growth opportunities abound across the electric bikes segment, poised to register approximately 12% CAGR through 2030. The growth is also attributed to the higher sales of bicycle aftermarket products, including bicycle tires, which are expected to register an upward-sloping curve in upcoming years.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs