The global mountain bike market is expected to grow at a CAGR of close to 10% during the forecast period, according to Technavio's latest market research.
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Technavio has published a new report on the global mountain bike market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technaviocovers the market outlook and growth prospects of the global mountain bike market for 2017-2021. The report has further categorized the market into two end-user segments that include competition and leisure.
Technavio's research analysts segment the global mountain bike market into the following regions:
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Americas: largest global mountain bike market
Mountain biking is one of the off-road sports that is gaining popularity across North America. Cross-road biking is popular in this region due to the rising number of women and kids entering this sport as this sport is shifting from being male dominant to a leisure activity pursued by women and children. The popularity is increasing due to the rising awareness regarding safety, fitness, ethics, and environmental protection.
"Several cyclist organizations such as League of American Wheelman, IMBA, and Bike Centennial have initiated plans and projects to encourage more individuals to enter the sport. IMBA Canada, which is a subsidiary of the IMBA, aims at trail building expertise, convenient access to appealing trails, and political influence to increase the number of mountain riders in the local region," says Ganesh Subramanian, a lead automotive manufacturing research expert from Technavio.
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Global mountain bike market in EMEA
During the forecast period, the mountain bike market in EMEA is expected to grow at a steady rate. The increasing demand for the mountain bike market is primarily driven by the introduction of electric mountain bikes used for leisure activities. As the battery in the electric bikes maximizes the power of the bike, it plays a crucial part in enhancing the rider's experience. The efforts made, and initiatives taken by various mountain biking associations help to increase the awareness regarding this sport.
"Competitive mountain biking is an expanding industry in Europe. The Crankworx roster event of the global mountain bike festivals in Austria is a winter sports competition wherein the ride travels through downhill, dual speed, and style, slopestyle, whip off and pump tracks," says Sushmit
Global mountain bike market in APAC
During the forecast period, the mountain bike market in APAC is expected to grow at an exponential rate. The major factor contributing to the growth of the market in this region is the increase in buying power and disposable income of the people in developing countries such as China, India, Australia, and South Korea.
The sport has gained attention from bikers and adventure and fitness enthusiasts in India. This is because of the rapidly changing lifestyle and increasing mountain biking tourism in the region. The scenic and rugged landscapes such as mountains, high passes, deep valleys, and alpine glaciers, provide opportunities for the bikers to explore different terrains. In India, mountain bikers can explore several destinations such as Himachal, Ladakh, Garhwal, and Kumaon.
The top vendors in the global mountain bike market as highlighted in this market research analysis are:
- Giant Bicycles
- Pivot Cycles
- SCOTT Sports
- Trek Bicycle Corporation
- XDS BICYCLES
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