Bicycle Tire Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Bicycle Tire Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global bicycle tire market is experiencing substantial growth, propelled by a convergence of eco-conscious consumer behavior, rising fuel prices, and significant advancements in tire technologies. As per Fairfield Market Research, the market is forecasted to value US$ 7.83 billion by 2024, with an anticipated surge to US$ 13.72 billion by 2031, reflecting a robust CAGR of 8.3% during 2024–2031. The increasing preference for bicycles as an environmentally friendly mode of transportation, coupled with innovations like airless tires, is redefining the market's trajectory.
• The bicycle tire segment commands a noteworthy 6–8% share of the global automotive tire market, underlining its pivotal role in the transportation ecosystem.
• Enhanced interest in recreational and competitive cycling has spurred the demand for high-performance tires, especially for trekking and sports bicycles.
• Growing popularity of off-road cycling and adventure biking events is creating lucrative opportunities for tire manufacturers to expand their portfolios.

Key Drivers Shaping Market Growth

1.Escalating Fuel Prices: The rise in global fuel costs, influenced by geopolitical unrest such as the Russia-Ukraine war and economic uncertainties, is prompting a shift toward bicycles as cost-effective and eco-friendly transportation alternatives.

2.Sustainable Mobility Solutions: With governments worldwide emphasizing green transportation, bicycles are becoming a cornerstone of urban sustainability initiatives.

3.Tire Technology Advancements: Revolutionary innovations like airless tires are addressing common problems such as punctures while delivering enhanced durability and comfort, propelling market growth further.

4.Health and Fitness Awareness: The increasing focus on fitness and health has significantly boosted cycling’s popularity, driving demand for bicycles across various categories, including electric and sports models.

Emerging Business Opportunities

1.Airless Tires: These innovative tires eliminate puncture-related challenges and offer a smoother riding experience. Constructed from recyclable materials, airless tires align with global sustainability efforts, presenting manufacturers with promising growth prospects.

2.E-Bicycle Tires: With e-bicycles accounting for over 52% of the market share, thanks to government incentives and their ability to alleviate traffic and emissions, demand for specialized e-bicycle tires is escalating rapidly.

3.Tubeless Tires: Representing a growing market segment, tubeless tires are projected to account for 43% of future revenue, driven by their superior durability and lower maintenance needs.

4.Specialized Sports and Trekking Tires: Increased participation in adventure sports and off-road cycling has fueled the demand for durable and stable tires suited for rugged terrains.

Regional Highlights
• China: Leading the East Asia market, China contributes 90% of the region's bicycle tire sales, supported by its position as the largest bicycle producer and exporter. The country’s strong domestic and export demand remains resilient post-pandemic, catering to global markets like Europe and the US.
• Germany: With an 11% market share in Europe, Germany is experiencing growth fueled by health-conscious consumers, government incentives, and increasing popularity of folding electric bicycles. Enhanced focus on safety and aesthetics is further bolstering demand.
• Emerging Markets: Countries such as India and others in South Asia are witnessing a surge in bicycle adoption, particularly e-bicycles, driven by rising urbanization, increasing disposable incomes, and environmental awareness.

Game-Changing Airless Tire Technology

Airless tires are a revolutionary innovation, addressing the persistent problem of punctures while promoting sustainability. These tires, designed for enhanced durability, eliminate traditional inner tubes and some wheel components. Their recyclable nature makes them a preferred choice among eco-conscious urban and off-road cyclists.

Segment Insights

1.Electric Bicycle Tires:

The rise of electric bicycles, driven by governmental measures to reduce congestion and carbon footprints, is significantly impacting the tire market. In developing nations like China and India, e-bicycles have garnered substantial traction, further bolstering demand for specialized tires.

2.Tubeless Tires:

Tubeless tires are gaining prominence due to their durability, low maintenance, and superior resilience. Simultaneously, tube tires remain popular for their excellent grip and stability, catering to performance-focused cyclists.

Competitive Analysis

Technological innovation and government initiatives are empowering manufacturers to deliver cost-efficient solutions in the bicycle tire market. Collaborations with OEMs and aftermarket suppliers are fostering revenue stability. Strategic partnerships are also enabling manufacturers to lower production costs and strengthen market presence.

Leading Market Players
• Cheng Shin Rubber Ind Co., Ltd.
• HUTCHINSON
• Trek Bicycle Corporation
• The Goodyear Tires & Rubber Company
• Specialized Bicycle Components
• MICHELIN
• Mitas
• Pirelli & C. S.p.A.
• Giant Bicycles
• Continental AG

Bicycle Tire Market Segmentation

By Product Type:
• Tube Bicycle Tires
• Tubeless Bicycle Tires
• Solid Bicycle Tires

By Tire Size:
• Up to 12 Inch Bicycle Tires
• 12 to 22 Inch Bicycle Tires
• Above 22 Inch Bicycle Tires

By Bicycle Type:
• Mountain Bicycle Tires
• Hybrid Bicycle Tires
• Electric Bicycle Tires
• Comfort Bicycle Tires
• Youth Bicycle Tires
• Cruiser Bicycle Tires
• Road Bicycle Tires

By Sales Channel:
• OEM
• Aftermarket

By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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