Pune, India, March 11, 2022 (GLOBE NEWSWIRE) -- The global BMX bike market size was USD 236.5 million in 2020. The market is expected to grow from USD 247.9 million in 2021 to USD 351.7 million in 2028, exhibiting a CAGR of 5.1% during the forecast period. The growing popularity of BMX sports, rising environmental concerns, and strict emission norms are expected to bolster market progress. Fortune Business Insights™ mentions this information in its report titled BMX Bike Market, 2021-2028.
Bicycle Moto Cross (BMX) bikes are bicycle motocross used for stunt riding and racing. The rising popularity of the product among children is expected to boost its adoption globally. It is available in several sizes and provides safety while driving. Rising spending capacity and improving lifestyles are expected to foster the demand for the product. Furthermore, rising environmental concerns are expected to increase BMX bike adoption. In addition, stringent emission norms are estimated to incite market progress.
Industry Development:
July 2021: BMX Freestyle sports entered the Tokyo Olympic 2020 games, thereby fueling demand and popularity of BMX bicycles globally.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/bmx-bike-market-105601
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 5.1% |
| 2028 Value Projection | USD 351.7 Million |
| Base Year | 2020 |
| Market Size in 2021 | USD 247.9 Million |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 200 |
| Segments covered | Sports, Fitness, and Others |
| Growth Drivers | The rapid incline in BMX bike racing tracks is expected to boost the adoption of BMX bikes across the world. |
| The rising popularity of fitness sports and bicycling is expected to attract consumers to the product. Furthermore, government initiatives regarding cycling activities are expected to foster market development. | |
| In addition, the imposition of stringent emission norms is expected to bolster market development. These factors may drive the BMX bike market growth. |
Segmentation
Top Tube Length, Application, Distributional Channel, And Region Are Studied
By top tube length, the market is segmented into 22 inches & above, 20-22 inches, 18-20 inches, and less than 18 inches. Based on application, it is trifurcated into fitness, sports, and others. As per distributional channel, it is bifurcated into offline and online. Geographically, it is clubbed into North America, Asia Pacific, Europe, and the rest of the world.
To get to know more about the short-term and long-term impact of COVID-19 on this market, Please Visit: https://www.fortunebusinessinsights.com/bmx-bike-market-105601
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Rising Number of Active BMX Tracks to Fuel Market Progress
The rapid incline in BMX bike racing tracks is expected to boost the adoption of BMX bikes across the world. The rising popularity of fitness sports and bicycling is expected to attract consumers to the product. Furthermore, government initiatives regarding cycling activities are expected to foster market development. Moreover, the rising popularity of the bike, changing lifestyles, and increased spending capacity are expected to boost the product adoption. Its availability in several sizes is expected to increase its demand. In addition, the imposition of stringent emission norms is expected to bolster market development. These factors may drive the BMX bike market growth.
However, high costs associated with the product may hinder market progress.
Speak To Our Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/bmx-bike-market-105601
COVID-19 Impact
Transport Restrictions to Impede Market Progress
This market is expected to be negatively affected during the COVID-19 pandemic due to the restrictions placed on transport and travel. The sudden rise in COVID-19 infections led to the adoption of stringent restrictions. Furthermore, the shutdown of manufacturing is expected to create supply chain disruptions. However, the adoption of technologically advanced production machinery, sanitization methods, and social distancing may enable manufacturers to recover costs and maintain market position. These factors may propel market progress during the pandemic.
Regional Insights
Rising Concerns Regarding Pollution to Boost Market Growth in Europe
Europe is expected to dominate the BMX bike market share due to rising concerns regarding pollution among the population. The market in Europe stood at USD 107.3 million in 2020 and is expected to grow significantly in the coming years. Furthermore, rising government investments in green mobility solutions and cycling infrastructure development are expected to boost market development.
North America is the second-largest shareholder due to the rising popularity of off-road and BMX sports. Further, several key players in the market are expected to bolster market development.
In Asia Pacific, the rising product adoption in Australia, New Zealand, and Japan is expected to boost demand. In addition, the presence of several medium & small bike brands and bike parts is expected to bolster market development.
Quick Buy - BMX Bike Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105601
Competitive Landscape
Companies Announce Novel Products to Expand Product Portfolio
Prominent companies operating in the market announce novel products to attract consumers and boost brand image. For example, Michelin launched Pilot SX Slick and Pilot SX in April 2021, equipped with competitive rubber compounds obtained from Michelin road bike tires. This launch shall enable the company to boost its brand image and achieve a remarkable market position. Furthermore, companies adopt research & development, mergers, acquisitions, novel product launches to boost their market position.
List of Key Players Profiled in the Report
- Pacific Cycle Group (U.S.)
- Haro Bikes (U.S.)
- Kink BMX (U.S.)
- Fitbikeco. (U.S.)
- Elite BMX (U.S.)
- Sunday Bikes (U.S.)
- GT Bicycles (U.S.)
- Redline Bicycles (U.S.)
- Mafia Bikes (U.K.)
- Stolen BMX (U.S.)
Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Distribution Analysis
- Impact of COVID-19
- Global BMX Bike Market Analysis, Insights and Forecast, 2017-2028
- Market Analysis, Insights and Forecast – By Top Tube Length
- Market Analysis, Insights and Forecast – By Application
- Market Analysis, Insights and Forecast – By Distribution Channel
- Market Analysis, Insights and Forecast – By Region
- North America BMX Bike Market Analysis, Insights and Forecast, 2017-2028
- Europe BMX Bike Market Analysis, Insights and Forecast, 2017-2028
Continued...
Ask for Customization of this Report: https://www.fortunebusinessinsights.com/enquiry/customization/bmx-bike-market-105601
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
