Mountain Bike Market Expected to Reach USD 16.9 Billion CAGR of 10% by 2030 – Report by Market Research Future (MRFR)

The progress of the mountain bike market is pushed by growing reputation and competitions, steady design and technological developments

New York, USA, April 27, 2023 (GLOBE NEWSWIRE) — According to a complete report by MRFR/Market Research Future (MRFR), “mountain bike market Information by Type, Application and Region – Forecast to 2030″, Mountain Bike Market revenue will grow from USD 8.6 billion in 2022 to USD 16.9 billion by 2030, at a growth rate of 10% from 2022 to 2030.

Mountain Bike Market Overview

A mountain bike is a type of bicycle designed for off-roading and competition. Mountain bikes are tough and can perform with enhanced toughness on rocky and steep terrain. Depending on the model, mountain bikes have either a front or rear suspension system. The suspension system should be constructed of strong, high-quality materials that can withstand heavy loads, hard knocks, and repeated use. Most mountain bikes have a set of disc brakes mounted on both wheels. These brakes are more efficient and provide immediate braking action.

Market Competitive Landscape:

Affluent companies in the mountain bike industry are

• BRP

• textron inc.

• Yamaha Motor Co.Ltd

• Honda Motor Co.Ltd

• Polaris Industries Inc.

• Among others.

March 2023

An electric mountain bike was introduced by Audi as part of its line of genuine accessories. The company describes this product as the “next step in our commitment to offer other forms of e-mobility”.

A Brose S-Mag 36 Volt 250 electrical motor with 90 Nm torque is powered by the 720 kWh Fantic battery, which is included within the car.

Boost, Eco, Sport and Tour are the obtainable drive modes. According to Audi, amongst them, Boost supplies essentially the most assist for mountainous roads whereas Eco is for essentially the most energy and vary.

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Mountain Bike COVID 19 Analysis

Due to restricted enterprise actions globally and keep-at-dwelling orders, the COVID-19 pandemic has had an enormous affect on the motorbike trade. Motorcycle trade leaders have gone to nice lengths to revamp their manufacturing course of and provide chain to allow the supply of very important medical provides.

The story continues

ATV manufacturers have been forced by the outbreak to forego major auto shows and racing events in 2020 and instead focus on alternative channels like digital premieres.

Nevertheless, several producers have made many important choices in the wake of COVID-19 and withdrew from international shows in 2020. The pandemic situation is improving, but the global mountain bike market is rebounding and is expected to remain in the growth phase during the projection period.

Report Scope:

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USP Mountain Bike Market Covered:

Market factors:

For the host community and the region, mountain biking tourism generates income. Mountain biking is a popular activity that attracts visitors from all over the world. In addition to having little negative impact on the environment, sport has a good impact on local businesses and is a source of income for nations.

In the areas of accommodation, catering, entertainment, recreation, local tour guides, tour guides and bicycle rentals, the growth of tourism contributes to the creation of jobs and money. Additionally, people are drawn to the work that local governments do to maintain tourist destinations. The industry benefits from a number of other initiatives, such as the opening of new trails, the creation of child-friendly beginner trails, and the creation of advanced trails for a variety of uses, including free hiking , downhill trails, pump tracks and jump parks.

Electric mountain bikes have been created as a result of continuous design and technological advancements in the field of mountain bikes. Mountain riding is less tiring for e-MTB users because of the increased pedaling power of the machines. Stronger riders can choose a lesser amount of engine support or turn off the engine, which helps compensate for performance gaps. Riders can select a greater amount of engine support when climbing to improve their riding experience. Mountain bikes allow athletes to take on new challenges and levels of difficulty, while e-bikes make travel easier. This translates into new sporting opportunities.

Market constraints:

A popular and exciting off-road adventure activity, mountain biking is growing in popularity as well as in competitions. Because they ignore trail surface defects, runners are highly susceptible to danger when traversing the rough terrain during travel. Despite the fact that several companies have created safety devices to improve the safety of motorcyclists, they are still vulnerable to minor and serious accidents because they cannot see the ground in front of them. Natural events like sudden weather changes and lack of sunlight make motorcyclists more susceptible to accidents, which can lead to death and significant injury. The mountain bike market is suffering due to the significant dangers associated with the activity.

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Mountain Bike Market Segmentation

By type

Type segmentation of the mountain bike market includes new energy engines, diesel engines, gasoline engines, and others. Petroleum fuels will continue to dominate in the medium to long term due to their accessibility and the late development of alternative fuels. Global oil consumption is expected to increase in the future, especially in the transport sector, despite the development of more energy-efficient internal combustion engines and a growth in the use of alternative fuels. Transport’s share of overall oil consumption is expected to increase from its current level of just under 55% to 64% by 2030, alongside air transport.

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Racing and amateur are the applications of mountain bikes. In addition to racing, mountain bikes are great for fast, flowing singletrack due to their low weight and high efficiency. By 2030, the racing sector will therefore be the market leader.

Regional overview of the mountain bike market

Owing to the region’s high spending on leisure activities and intense mountain biking competitiveness, North America is expected to dominate the market throughout the projected period. There are several top mountain hiking spots in Canada, and the region has a wide variety of mountains.

The second largest market share belongs to the European mountain bike industry. In addition, Europe has introduced tax incentives and subsidies for the purchase of new electric bicycles, which should also stimulate the development of the industry. Funding from European governments has increased for the construction of cycling infrastructure. Additionally, the UK mountain bike market was the fastest growing market in Europe, while the German mountain bike market had the largest market share.

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From 2022 to 2030, the Asia-Pacific Mountain Bike market is expected to witness the fastest growing CAGR. The bicycle is another popular mode of transport in emerging Asian countries. In addition, the Asia-Pacific mountain bike market saw the highest growth in India, while China held the highest market share.

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