Mountain Bike Market Projected to Reach USD 16.9 billion, with a CAGR of 10% by 2030 – Report by Market Research Future (MRFR)

Mountain bike market growth boost by growing in popularity and contests, ongoing design and technological advancements

New York, US, April 27, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Mountain Bike Market Information by Type, Application, and Region - Forecast till 2030", Mountain bike market revenue will increase from USD 8.6 billion in 2022 to USD 16.9 billion by 2030, at a 10% growth rate from 2022 to 2030.

Mountain Bike Market Overview

A mountain bike is a type of bicycle made for off-roading and competitive riding. Mountain bikes are tough and can function with improved toughness in rocky and steep terrain. Depending on the model, mountain bikes have a suspension system in the front or the back. The suspension system must be constructed of strong, high-quality materials that can handle heavy loads, harsh shocks, and repeated use. Most mountain bikes have a set of disc brakes mounted on both wheels. These brakes are more effective and offer immediate braking action.

Market Competitive Landscape:

The affluent firms in the mountain bike industry are

  • BRP
  • Textron Inc
  • Yamaha Motor Co. Ltd
  • Honda Motor Co. Ltd
  • Polaris Industries Inc.  
  • Among others.

March 2023

An electric mountain bike has been introduced by Audi as part of its Genuine Accessories line. The firm describes this product as the "next step in our commitment to offer other forms of e-mobility."

A Brose S-Mag 36 Volt 250 electric motor with 90 Nm torque is powered by Fantic's 720 kWh battery, which is included in the vehicle.

Boost, Eco, Sport, and Tour are the available riding modes. According to Audi, of them, Boost provides the most aid for mountainous roads while Eco is for the most power and range.

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Mountain Bike COVID 19 Analysis

Due to limited commercial activities globally and stay-at-home orders, the COVID-19 pandemic had a substantial influence on the motorcycle industry. Leaders in the motorcycle industry put a lot of work into reorganizing their production process and supply chain to accommodate the delivery of vital medical supplies.

Mountain bike manufacturers were forced by the epidemic to forgo big auto exhibitions and racing events in 2020 and instead focus on alternate channels like digital premieres.

Nonetheless, several producers made numerous important choices following COVID-19 and withdrew from international trade exhibitions in 2020. The pandemic situation is improving, but the worldwide mountain bike market is rebounding and is anticipated to stay in the growth stage over the projection period.

Report Scope:

Report MetricsDetails
Market Size 20302030: USD 16.9 billion
CAGR during 2022-203010.00% CAGR
Base Year2021
Forecast 2022-2030
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredType, Application, and Region
Key Market OpportunitiesThe rapid adoption of green goods
Key Market DynamicsThe demand for environmentally friendly automobiles and several government restrictions

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Mountain Bike Market USP Covered:

Market Drivers:

For the host community and area, mountain bike tourism helps generate income. Mountain biking is a popular activity that draws visitors from all over the world. In addition to having little negative effects on the environment, sports have a good impact on local businesses and are a source of income for nations.

In the areas of lodging, dining, entertainment, leisure activities, local tour guides, travel guides, and bike rentals, the growth in tourism contributes to the creation of employment and money. Also, people are drawn to the work that local governments are doing to keep up tourist destinations. The industry benefits from a number of other initiatives, such as the opening of new trails, the creation of kid-friendly beginner trails, and the creation of advanced trails for a variety of uses, including free rides, downhill trails, pump tracks, and jump parks.

Electric mountain bikes have been created as a result of ongoing design and technological advancements in mountain bikes. Mountain riding is less strenuous for users of electric mountain bikes because the machines' increased pedalling power. Stronger riders can pick a lesser amount of engine support or turn off the engine, which helps to make up for performance discrepancies. Riders can select a higher amount of engine support when going uphill to enhance their riding experience. Mountain bikes let athletes take on new challenge profiles and levels of difficulty, while electric bikes make the journey easier. This results in new sports chances.

Market Restraints: 

A well-liked and thrilling off-road adventure activity, mountain biking is growing in popularity as well as in competitions. Because they are ignorant of the trail's surface flaws, the riders are very susceptible to danger as they traverse the uneven terrain during the trip. Despite the fact that several firms have created safety devices to improve the safety of the bikers, they are still vulnerable to both small and serious accidents since they are unable to see the ground ahead of them. Natural occurrences like abrupt weather changes and a lack of sunshine make motorcyclists more likely to get in accidents, which can lead to significant fatalities and injuries. The mountain bike market is suffering because of the significant dangers involved with the activity.

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Mountain Bike Market Segmentation

By Type

Type-based segmentation of the mountain bike market comprises new energy engines, diesel engines, gasoline engines, and others. Oil-based fuels will continue to have a dominant position over the medium and long terms due to their accessibility and the delayed development of alternative fuels. The world's oil consumption is expected to increase going forward, particularly in the transportation sector, despite the development of more energy-efficient internal combustion engines and a growth in the use of alternative fuels. The percentage of transportation in overall oil consumption is expected to rise from its present level of slightly under 55 percent to 64 percent by 2030, alongside air travel.

By Application

Racing and amateurish are the applications of mountain bikes. In addition to racing, mountain bikes are perfect for fast, flowing singletrack due to their low weight and high efficiency. By 2030, the racing sector will hold the market's top spot as a consequence.

Mountain Bike Market Regional Insights

Due to high leisure activity spending and the region's intense mountain biking competitiveness, North America is anticipated to lead the market throughout the projected period. There are several top mountain riding locations in Canada, and the area has a wide variety of mountains.

The second-largest market share belongs to Europe's mountain bike industry. Moreover, Europe has been providing tax incentives and subsidies for the purchase of new e-bikes, which is also anticipated to boost industry development. Funding from European governments has increased towards the construction of bike infrastructure. In addition, the UK mountain bike market was the one in Europe with the quickest rate of growth, while the German mountain bike market had the greatest market share.

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From 2022 to 2030, the Asia-Pacific Mountain Bike Market is anticipated to see the quickest CAGR growth. Cycling is another well-liked mode of transportation in emerging Asian countries. In addition, the Asia-Pacific region's mountain bike market had the greatest growth in India, while China held the highest market share.

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