Mountain Bike Market to grow at a CAGR of 5.4% from 2022 to 2027, Driven by mountain biking tourism – Technavio

, /PRNewswire/ — The is estimated to grow by from 2022 to 2027. The growth momentum will progress at a during the forecast period. The market is segmented by end-user (leisure and competition), type (cross-country bikes, all mountain bikes, downhill bikes, freeride bikes, and dirt jumping bikes), and geography (APAC, , , Middle East, , and ).

The market share growth of the leisure segment is significant for the mountain bike market growth during the forecast period. The market for leisure is expected to grow at a steady pace during the forecast period. This is because the sport is gaining popularity in both developed and developing economies.

Other factors such as an increase in disposable income, changes in the lifestyle of the individuals, and events and races held by various associations are expected to boost the growth of the market. Mountain biking tourism acts as a catalyst for economic development. This is a key factor driving the market.

Mountain biking primarily includes off-road travel, where bikers ride on gravel, dirt roads, and uneven terrains to reach their destination. It is environment-friendly, a healthy recreational activity, and a non-polluting sustainable mode of transport. Mountain biking tourism also helps bring in revenue for the host community and region.

The mountain bike market is fragmented owing to the presence of a large number of global and regional vendors. Active vendors in the market offer competitive products available through both physical stores and online platforms. The competitive environment in the market is likely to intensify further due to an increase in product/service extensions and technological innovations.

The development of electric mountain bikes fuels the global mountain bike market growth. The growth is due to factors such as the advances in mountain bikes in terms of design and technology. Electric mountain bikes help riders amplify their pedaling power.

This makes mountain biking less exhausting and helps compensate for the differences in performance, as stronger riders can choose a lower level of engine support or can switch off the engine. In case of uphill riding, riders can choose a higher level of support from the engine to amplify the riding experience. Therefore, technological advancements such as the development of electric mountain bikes will spur the growth of the global mountain bike market during the forecast period.

The rise in the number of accidents and crashes and related injuries is the major challenge to the global mountain bicycle market growth. Mountain biking is a popular off-road adventure sport. It is witnessing an increase in the number of participants and competitions.

Riders travel through uneven terrain and are highly vulnerable to danger, as they are unaware of surface irregularities on the trail during the ride. Though various companies have developed safety equipment to enhance safety, bikers are still prone to both minor and major accidents, as they are unaware of the terrain ahead. Hence, factors such as accidents and crashes will impede the growth of the global mountain bike market during the forecast period.

The is projected to grow by 2,754. 14 thousand units with a CAGR of 7. 4% during the forecast period 2021 to 2026.

The rising demand for carbon fiber frames is notably driving the carbon fiber bike market growth. The size is expected to increase to USD 898. 35 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.

7%. A key factor driving growth in the balance bike market is the health, environmental, and economic benefits of cycling. Technavio is a leading global technology research and advisory company.

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This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Technavio Research Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: Website: SOURCE Infiniti Research, Inc. .