Growing popularity of bicycling all across the globe is estimated to drive superlative demand opportunities in the global bicycle tires market during the forecast period 2020–2030. Tire is considered one of the key parts of any vehicle including bicycles. There are three types of products, namely, tubed, tubeless, and airless tires, available in the global market for bicycle tire.
An upcoming research report by TMR on the bicycle tires market gives complete overview of this market. Thus, the study provides analysis of vital elements including growth opportunities, drivers, restraints, and challenges in the market for bicycle tires. Apart from this, the study covers reliable data on competitive landscape and key regions of the market for bicycle tires.
The report performs segmentation of the global bicycle tires market based on several important parameters such as product, application, and region. Based on application, the market for bicycle tires is classified into on-road and all-terrain.
In recent period, there is remarkable growth in awareness regarding the healthy lifestyle among major worldwide populace. As a result, health enthusiasts from all across the globe are inclined toward performing physical activities such as cycling for staying fit. Thus, there is noteworthy growth in demand for bicycles in the world. This factor is fueling the demand opportunities in the global bicycle tires market. Apart from this, the continuously rising prices of fuel is one of the important factors stimulating demand opportunities in the global market for bicycle tires.
With growing concerns related to environmental issues, major worldwide population is growing efforts to use environmental-friendly alternatives for transportation. This scenario has boosted the sales of bicycles all over the world. As a result, the global bicycle tires market is experiencing lucrative avenues. Apart from this, the improved disposable income of majority of people living in all corners of the world is estimated to generate noteworthy sales opportunities in the global bicycle tires market in the years ahead.
The presence of many active enterprises makes the competitive landscape of the global bicycle tires market is extremely intense. To sustain in this high competition as well as to maintain leading position in this scenario, players working in this market are using diverse strategies.
Many enterprises in the global bicycle tires market are growing concentration toward offering technologically advanced products. As a result, they are increasing investment in research and development activities. This aside, several players in the global bicycle tires market are engaged in new product launch activities. On the back of all these activities, the global market for bicycle tires is slated to grow at rapid pace in the forthcoming years.
The list of key players in the global bicycle tires market includes:
On regional front, the global bicycle tires market shows existence in several regions such as North America, Europe, Asia Pacific, and rest of the world. Of all regions, North America and Europe are expected to maintain leading position in the market for bicycle tires during forthcoming years. This growth is attributed to many factors such as growing awareness regarding environmental concerns and improved disposable income of major population in these regions.