Riding Comfort: Bicycle Tire Market Outlook 2023-2029 | Babafig

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Science

Riding Comfort: Bicycle Tire Market Outlook 2023-2029

2023-12-27 11:13:49 • vues

Bicycle Tire Market was valued at US$ 7.37 Bn in 2022 and expected to grow at a CAGR of 6.3% during the forecast period (2023-2029). Thanks to the growing trend of tubeless tire use which has boosted demand for Global Bicycle Tire Market.

Bicycle Tire Market Overview:

The Bicycle Tire market is currently experiencing a notable shift as consumers increasingly prioritize sustainability and ethical practices in their purchasing decisions. With a growing awareness of the environmental impact of fast fashion, there is a rising demand for accessories crafted from eco-friendly materials and produced through ethical manufacturing processes. This trend is reshaping the industry, prompting brands to adopt transparent supply chains and incorporate sustainable practices into their business models. Furthermore, technology is playing a pivotal role in enhancing the customer experience, with augmented reality (AR) applications and virtual try-on features gaining popularity, allowing shoppers to visualize accessories before making a purchase. The market is also witnessing a surge in the popularity of unique, artisanal pieces that showcase craftsmanship and individuality. As consumer values and preferences evolve, the Bicycle Tire market is adapting to align with a more conscious and tech-savvy consumer base.

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Bicycle Tire Market Scope:

The Bicycle Tire market is experiencing a broadening scope, driven by a combination of factors that reflect the diverse needs and preferences of today's consumers. The integration of technology, such as smart accessories and wearable tech, is expanding the market beyond traditional boundaries. Smartwatches, fitness trackers, and other technologically advanced accessories are gaining popularity, providing both style and functionality. Additionally, the market is witnessing a surge in customization and personalization trends, with consumers seeking unique and bespoke accessories that align with their individual tastes. E-commerce continues to play a pivotal role, offering consumers a convenient platform to explore and purchase a wide range of accessories from the comfort of their homes. Collaborations between fashion brands and celebrities or influencers are also contributing to the market's expansion, creating exclusive and aspirational collections that resonate with consumers. The global nature of the industry allows for the incorporation of diverse cultural influences, further enriching the market with a variety of styles and designs. As the Bicycle Tire market continues to evolve, its scope reflects the intersection of technology, individualization, and global connectivity.

Bicycle Tire Market Segmentation:

The tubed, tubeless, and airless segments of the global bicycle tire market are subdivided based on product segment. With a 52% share in 2023, the tubeless segment dominated the global market. These tires don't have an air-holding tube, as their name suggests. When the tire is pressurized, the improved tubeless rim design and tire beads cause the air to lock. Tubeless tires are highly sought after in the market due to their ability to self-repair, superior traction, improved ride quality, increased momentum, and faster running speed. As a result, over the course of the forecast period, the tubeless tire market is anticipated to expand at a CAGR of 4.3%.

The global bicycle tire market is divided into two sub-segments: on-road and all-terrain, based on the Application Segment. The on-road market is the largest in the world and was estimated to be worth US$ 3.3 billion in 2022. The growth of the on-road segment can be attributed to several factors, including the rising demand for well-designed bicycles, the production of e-bikes, high durability, workability, and increased readability. Because off-road tires are less durable, more expensive to upgrade, have less rolling resistance, and are more easily damaged by uneven surfaces, they are less popular.

1 Bicycle Tire Market, by Product (2023-2029)
• Tubed
• Tubeless
• Airless
2 Bicycle Tire Market, by Application (2023-2029)
• On-road
• All terrain

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Bicycle Tire Market Key Players: The key players are

• Vittoria
• Continental AG
• Apollo
• Vredestein
• Maxis
• Challenge Tires
• Hutchinson SA
• Freedom Bicycle
• Michelin
• Kenda Tires
• Schwalbe
• Suomi Tyres
• Panaracer Corporation
• Fyxation Bicycle Co.
• Cheng Shin Rubber
• Bridgestone
• Trek Bicycle Corporation

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Bicycle Tire Market Regional Analysis:

The Bicycle Tire market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Bicycle Tire market share and will continue to be a major shareholder in the global Bicycle Tire market.

COVID-19 Impact Analysis on Bicycle Tire Market: The COVID-19 impact on the Bicycle Tire market is also included in the report

Key Questions Answered in the Bicycle Tire Market Report are:

What will be the CAGR of the Bicycle Tire market during the forecast period?
Which segment emerged as the leading segment in the Bicycle Tire market?
Which are the prominent players in the Bicycle Tire market?

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