Global Mountain Bike Market - Growth Analysis and Forecast |Technavio
18 November 2017 - 7:23PM
Business Wire
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, Technavio covers 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:
- Cannondale
- Giant Bicycles
- Pivot Cycles
- SCOTT Sports
- Trek Bicycle Corporation
- TRINX
- XDS BICYCLES
Browse Related Reports:
- Global Hybrid Commercial Vehicle Market
2017-2021
- Global Trike Market 2017-2021
- Global Hoverboard Market 2017-2021
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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