A mountain bicycle, commonly referred to as mountain bike, is meant for off-road cycling. It exhibits greater durability and performance in choppy terrains and is typically ridden on mountainous regions which have hard rocks, loose dirt, muddy or grassy tracks, and steep slopes. The sales of mountain bikes have steadily risen over the course of years with new players entering it with new and better products.
A recent report on the global market for mountain bike that has been published by Transparency Market Research presents crucial information on it. It studies the factors favoring and hindering the market’s course and also the regions and product segments that hold out maximum potential. The report banks upon current and historical figures in order gauge the current and future size of the market.
Global Mountain Bike Market: Key Trends
Numerous factors are serving to promote the market for mountain bike. Rising tourism worldwide and increasing penchant among people for more outdoor activities are foremost among them. With increasing income of people, more and more are opting for vacations once or twice a year. This is also because of aggressive promotions of tourist spots by local governments and hotel chains. This, in turn, has proved to be a boon for the mountain bike market which tourists often use to explore the natural surroundings.
Astute strategies by key players in the mountain bike market is also positively impacting the market. One of those is product innovation leading to the launch of new and better models every now. The electric bikes are a stellar example in this direction. Powered by electricity, they make pedaling less exhausting in difficult terrains and uphill climbs. Players are also coming up with easy rental plans to promote revenue growth.
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However, posing a challenge to the market, on the other hand, is the frequent accidents which often deter prospective buyers.
Global Mountain Bike Market: Regional Outlook
From a regional perspective, the global mountain bike market has flourished the most in Europe and North America. Both the regions with their vast and scenic mountainous regions – it is said that Canada has some of the finest mountain biking trails in the world – have seen surging sales of mountain bike. This is also because of the increased spending capacity of the people in the two regions, which are home to most of the developed regions in the world. This coupled with a number of key manufacturers being domiciled in the two regions and the aptitude for adventure related sports amongst the denizens has resulted in solid growth in their overall markets.
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Asia Pacific is expected to emerge as another lucrative market because of the growing disposable incomes of people in the region, particularly in the nations of India, China, Australia, South Korea, Singapore, and Taiwan. The sport has attracted the attention of both adrenaline junkies and adventure seekers in the nations, which are also home to some of the most fascinating mountain ranges in the world.
Global Mountain Bike Market: Competitive Dynamics
Quite a few players operate in the global mountain bike market and there is healthy competition among them. Some of the prominent ones among them that hold a sway over the revenues are Giant Bicycles, Cannondale, Pivot Cycles, TRINX, SCOTT Sports, Trek Bicycle Corporation, and XDS BICYCLES. The report throws light on their product offerings and key strategies and also leverages popular analytical tools to understand their prospects going forward.
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