Mountain biking has become a popular activity across the globe. The sport offers an excellent way to enjoy the outdoors, explore natural terrains, and challenge oneself physically. Over the years, the mountain bike market has seen significant growth as more and more people take up the sport. In this article, we will explore the various aspects of the mountain bike industry, including market share, industry statistics, growth trends, segmentation, research, and markets in the UK, used bikes, and e-bikes.
Market Share and Industry Statistics
The mountain bike market is a significant segment of the cycling industry, which includes road, hybrid, and BMX bikes. According to a report by Market Research Future Report, the global mountain bike market size was valued at $7.9 billion in 2021 and is projected to reach $16.9 billion by 2030, growing at a CAGR of 10% from 2022 to 2030. The report indicates that the market growth is driven by factors such as the rising popularity of mountain biking as a recreational activity and the increasing demand for high-performance mountain bikes.
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In terms of market share, North America dominates the global mountain bike market, followed by Europe and the Asia-Pacific region. The North American market is expected to maintain its dominance over the forecast period, owing to factors such as the availability of several mountain biking trails, the presence of prominent manufacturers, and increasing investments in cycling infrastructure.
Industry Growth Trends
The mountain bike industry has seen a consistent growth trend in recent years, and this trend is expected to continue in the coming years. One significant growth driver is the increasing interest in outdoor activities, which has been fueled by the COVID-19 pandemic. As more people seek to engage in outdoor activities to maintain their physical and mental well-being, the demand for mountain bikes is likely to increase.
Mountain Bike Market in the UK
The UK mountain bike market is booming, with a variety of high-quality mountain bikes available for purchase. According to a report published by the Bicycle Association of Great Britain, the UK cycling market is valued at around £2.2 billion, with mountain biking representing a significant portion of this market. Mountain bikes come in various types, including cross-country, trail, enduro, and downhill.
The UK is known for its beautiful mountains, and mountain biking has become a popular way for people to explore these landscapes. Mountain bikes are designed to handle rough terrain and steep inclines, making them the perfect choice for adventurous riders looking to challenge themselves.
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E-Mountain Bike market
The e-mountain bike market, on the other hand, has seen a more dramatic rise in popularity. E-mountain bikes, also known as electric mountain bikes or eMTBs, have an electric motor that assists the rider's pedaling, allowing for greater ease and control on challenging terrain. The e-mountain bike market has been growing at a rapid pace, with sales increasing year over year. The benefits of e-mountain biking include greater accessibility to challenging terrain, increased distance coverage, and the ability to ride for longer periods of time.
One of the key drivers of growth in the e-mountain bike market is the technological advancements in the industry. As battery technology improves, e-mountain bikes have become lighter, more efficient, and offer a longer range. This has made them more accessible to a wider range of riders, from casual enthusiasts to professional athletes. Additionally, the development of smart technologies such as GPS and mobile apps has enhanced the overall riding experience and made it easier for riders to track their progress and improve their skills.
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