The global sale of bicycle tires is estimated to be worth USD 10,158.3 million in 2024 and is anticipated to reach a value of USD 23,509.1 million by 2034. Sales are projected to rise at a CAGR of 8.8% over the forecast period between 2024 and 2034. The revenue generated by bicycle tires in 2023 was USD 9,423.1 million. The industry is predicted to exhibit a Y-o-Y growth of 7.8% in 2024.
The global bicycle market has witnessed significant growth in recent years, because of health consciousness, clamor for urban mobility solutions, and most importantly environmental concerns. It has become a most suitable mode of transportation because local authorities and governments are promoting cycling-friendly infrastructure and policies to reduce carbon emissions and traffic congestion. People are focused on using bicycles to surpass the traffic. The demand for electric bicycles has increased owing to their convenience, speed, and ease of use.
The global bicycle tire market is gaining momentum amid a growing push for eco-friendly transportation and an increase in health and fitness awareness. As bicycles evolve from simple commuting tools to performance and lifestyle products, the demand for innovative, durable, and terrain-adaptive tires is on the rise. Here’s a deeper dive into the trends shaping the market landscape:
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Key Takeaways
The bicycle tire market is witnessing a significant shift due to increasing urban mobility solutions and changing consumer behavior. The surge in cycling activity, both as a recreational sport and a practical commuting option, is redefining tire innovation. Consumers are now prioritizing safety, performance, and sustainability in tire features. Moreover, government investments in cycling infrastructure and green urban planning are further accelerating the market’s expansion.
Key Drivers
Several factors are fueling the growth of the bicycle tire market. Firstly, the rise in environmental concerns and the push toward low-emission transport modes are boosting bicycle adoption globally. Secondly, the growing demand for electric bicycles has created a need for high-performance tires with better load-bearing capacity and energy efficiency. Thirdly, the expansion of the fitness and outdoor adventure culture has led to an increased demand for specialized tire types such as mountain, touring, and gravel tires.
Growth Opportunity
Emerging markets in Asia-Pacific, Africa, and Latin America present significant growth potential due to rising disposable incomes, urbanization, and the increasing popularity of cycling as an affordable and efficient mode of transport. In addition, innovations such as airless tires, puncture-resistant technologies, and eco-friendly tire materials offer lucrative opportunities for manufacturers. There’s also a rising trend in personalized and smart bike components, where tire performance is optimized through embedded sensors and adaptive materials.
Key Applications
Bicycle tires are being tailored to suit a diverse range of applications including city commuting, long-distance touring, mountain biking, road racing, and electric bike use. Each application demands unique tire specifications—urban bikes need puncture resistance and grip, mountain bikes require aggressive tread patterns for off-road stability, and road bikes prioritize lightweight and low rolling resistance designs.
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Key Players
The competitive landscape of the bicycle tire market is marked by the presence of both established brands and emerging players focused on niche innovations. Major players include:
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Continental AG
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The Goodyear Tire & Rubber Company
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Trek Bicycle Corporation
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Vittoria S.p.A.
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Maxxis International
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Michelin
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Kenda Rubber Industrial Co., Ltd.
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Schwalbe (Ralf Bohle GmbH)
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Hutchinson SA
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Pirelli & C. S.p.A.
Key Segmentation
The bicycle tire market is segmented across several key dimensions to better cater to varying consumer needs and regional demands:
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By Tire Type: Tube Tires, Tubeless Tires, Solid Tires
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By Bicycle Type: Road Bikes, Mountain Bikes, Hybrid Bikes, Electric Bikes, Kids’ Bikes
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By Distribution Channel: Online Retail, Specialty Stores, OEMs, Supermarkets/Hypermarkets
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By Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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