Future Market Insights
Bicycle tires perform an important function of eliminating the shock transferred through the front and rear wheels as they travel on uneven and rough surfaces; effectively gaining traction on the road so that the bicycle can travel properly and doesn’t slip. It is also used for hand cycles and specially designed wheelchairs for racing purposes. The complete tire system provides ideal suspension, produces the longitudinal force essential for propulsion and braking, and creates the lateral force required for turning and balancing. There are various grips offered in the market, which enhance traction between the wheels and the road and increase performance at high speeds and on uneven and rough terrains. The recent removable pneumatic bicycle tire contributed to the acceptance and enhanced safety operation of bicycle. Over the years, with bicycles becoming more advanced and efficient, advanced bicycle tires have been developed to improve riding performance and capability. Over the several years manufacturers were keen on reducing the bicycle’s body weight and enhancing strength, so it may travel at a desirable speeds.
Collectively, the front and rear bicycle tires in a cycle play a vital role in controlling the bike on uneven tracks; hence enhancing the riding experience to a whole new level. Bicycle tire expertise and design has come a long way in recent years, mainly owing to development transfer from the world of racing, wherein bicycles and their riders are subjected to extreme conditions. Consequently, today’s off-road and road riders gain a lot from highly sophisticated rear and front bicycle tires, which offer high traction on road and remarkable levels of comfort for the rider. Recent research and devolvement in the tires market has produced high quality and puncture resistant tires, which are favorable among consumers. Tubeless tire technology has enabled consumers to use tires for a specific period of time even after being punctured; hence enabling them to reach a service station comfortably and more importantly, in time.
Bicycle Tires Market: Dynamics
The bicycle tires market possesses a lot of potential for growth in the research and development division. Also, the market for bicycle tires has increased due to development in the overall bicycle market, as consumers are more attracted towards safety and riding comfort. In a bicycle, tires are the most important component and the replacement rate of the tires is high, owing to the high rate of friction between the tire and road. The aftermarket for replacement and services is projected to remain healthy over the forecast period as consumers will try to keep their bikes up to the mark. Moreover, in developed nations, the ability to ride at faster speeds with comfort is estimated to drive growth of the bicycle tires market in the near future. Furthermore, growth in racing and adventure sports, such as dirt biking and off-road riding will fuel growth of the overall bicycle tires market in the coming future. Events, such as the Tour de France, Olympics and other bicycle professional races will propel growth in the bicycle tires market and force manufacturers to come up with new product and goods, which are more capable for ideal riding.
The market for bicycle tires is predicted to grow at significant CAGR over the forecast period. Availability of various kinds of tires for special and regular applications is expected to boost growth of the overall bicycle tires market in the near future.
Bicycle Tires Market: Segmentation
The bicycle tires market can be segmented by product type, tire width, tire size, sales channel and bicycle type.
By product type, the bicycle tires market can be segmented as:
By tire width, the bicycle tires market can be segmented as:
18mm – 32mm
32mm – 52mm
By tire size, the bicycle tires market can be segmented as:
Up to 12 Inch
12 Inch – 22 Inch
Above 22 Inch
By sales channel, the bicycle tires market can be segmented as:
Original Equipment Manufacturer (OEM)
Bicycle Tire Aftermarket
By bicycle type, the bicycle tires market can be segmented as:
Others (child bicycles, wheelchair)
Bicycle Tires Market: Regional Outlook
North America and Europe have a high standard of living with luxurious lifestyles and high disposable incomes, this has led to growth in the application of bicycles in day to day transportation and thus, the market for bicycle tires is expected to grow in these respective regions during the forecast period. People have developed a liking towards a comfortable and smooth riding experience, thus the bicycle tires market is expected see rapid growth in all developed and developing countries in the future. Emerging economies in the APEJ region, especially China and India, will play an important role in the growth of the bicycle tires market in the coming future. It expected that Asian countries will start promoting the use of bicycles as a basic mode of transport, due to heavy pollution and traffic congestion caused by the increasing number of automobiles. Furthermore, new technologies and inventions in bicycle tires will foster growth in the global market.
Bicycle Tires Market: Market Participants
Examples of some of the market participants in the global bicycle tires market are:
Trek Bicycle Corporation
Cheng Shin Rubber Ind. Co. Ltd. (Cheng Shin Tire)
Fyxation Bicycle Co.
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