As per MRFR analysis, the Bicycle Tire Market Size was estimated at 21.36 (USD Billion) in 2022. The Bicycle Tire Market Industry is expected to grow from 22.41(USD Billion) in 2023 to 34.5 (USD Billion) by 2032. The Bicycle Tire Market CAGR (growth rate) is expected to be around 4.91% during the forecast period (2024 - 2032).
The Bicycle Tire Market is projected to witness substantial growth in the coming years, driven by increasing environmental consciousness and a growing preference for recreational cycling. Key market drivers include rising awareness of the health benefits of cycling, government initiatives promoting cycling, and growing disposable incomes in emerging markets.
Opportunities lie in the exploration of innovative materials, such as graphene and Kevlar, to enhance tire performance and durability. Additionally, the expansion of e-bike sales presents opportunities for the development of specialized tires catering to the unique demands of electric cycling.
Recent trends have seen a shift toward wider tires (2.5 to 3 inches) for comfort and stability, reflecting a trend toward gravel cycling and off-road explorations. Smart tires with integrated sensors and connectivity features are also emerging, offering riders real-time data on tire pressure and other performance metrics.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The increasing concern about health and fitness has attracted a significant number of people to engage in cycling as a leisure activity. Such activities occur mostly in urban places where cycling is a more convenient way of traveling and it also serves as an environmentally friendly means of transport. The emergence of various cycling activities, including marathons and races, has bolstered the demand for bicycle tires with high-performance capabilities.The projected growth is evident in the growth prospects of the Bicycle Tire Market Industry.
The modern world threatens people with many troubles using numerous dangerous mechanisms and vehicles. For instance, bicycles are widely used, considering the numerous benefits of this kind of transport, including low cost, safety restrictions, and feasibility. The tire industry is highly developed, and modern technologies continue to evolve, presenting various materials and designs. Among others, graphene and silica are currently actively implemented, which makes tires as light as possible and increases their resistance to puncture.The development of tubeless tire systems may enhance their grip and lower the rolling resistance, additionally protecting people from unwanted punctures and damages.
The increasing demand for electric bikes is creating opportunities for the Bicycle Tire Market Industry. In order to handle the needs of electric bikes, tires need to be resistant to relatively more weight, as well as the motor’s speed. This leads to a higher demand for high-performance tires. However, although the high performance and the parameters related to it represent certain advantages of such products, the most important factor that contributes to the popularity of such tires is their resistance.
The revenue of the Bicycle Tire Market is segmented by Type into Clincher, Tubular, and Tubeless. Clincher bicycle tires, being the most used type worldwide, accounted for over 90% of the market share in 2023. Their popularity results from being easy to use, inexpensive, and readily available. Clinchers work with the standard raised rim profile of the bicycle wheel while the tire fits into the rim and captures the tube inside. This design makes it easy to change the tire, so they are predominantly used by recreational and utility cyclists.Moreover, there is a wide selection of clincher tires ranging from narrow road tires to wide tires for a mountain bike, reflecting the diverse needs of cyclists. Tubular: Although tubular bicycle tires are much less common than clinchers, this type is the most popular choice for professional road racing cyclists. The reason behind this preference is that tubular tires offer several advantages, including lower rolling resistance, improved grip when cornering, more resistance to punctures, and more comfortable riding. These tires are more specific to install as they consist of a tube inside and the tire outside – the usual installation requires using special tools or a lot of skill and time.
Tubeless: Tubeless bicycle tires represent the fastest-growing segment of the Bicycle Tire Market, as their proportion increases because of their superior performance and reliability. Tubeless tires are inflated so that the tire is snug against the rim lips without tubes and ordinary noticeably lower air pressure. With the absence of a tube, there is a reduction in the tire’s weight that accelerates better handling and gives a faster start. Moreover, tubeless tires have a greater ability to absorb bounce from the road, which eases and speeds the bikes.On these accounts, tubeless tires are increasingly used for mountain and adventure bicycles for better reliability on the road. In 2023, the Clincher segment was leading the Bicycle Tire Market and occupied a vast part of the market share. At the same time, the Tubeless segment will probably increase the parts faster in the future.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Bicycle Tire Market revenue was valued at 25.24 USD Billion in 2023, and it is expected to reach 40.31 USD Billion by 2032, exhibiting a CAGR of 5.8% during the forecast period (2024-2032). The Material segment of the market is broadly classified into Natural Rubber, Synthetic Rubber, Polyurethane, and Kevlar. Natural Rubber held the largest revenue share in 2023, owing to its superior elasticity, durability, and grip. However, Synthetic Rubber is projected to grow at the fastest CAGR during the forecast period due to its increased adoption in high-performance bicycle tires.Polyurethane and Kevlar are also gaining traction, particularly in the production of puncture-resistant and lightweight tires. The growing demand for high-performance and durable bicycle tires is driving the growth of the Material segment in the Bicycle Tire Market.
The width of bicycle tires is a crucial factor influencing their performance and suitability for different riding conditions. The Bicycle Tire Market segmentation by width provides valuable insights into the market dynamics and consumer preferences. In 2023, the 'Less than 20 mm' segment held a significant market share, driven by the growing popularity of road racing and track cycling. These tires offer low rolling resistance and high speed, making them ideal for competitive cycling. The '20-30 mm' segment is expected to witness steady growth, catering to the needs of recreational riders and commuters.These tires provide a balance of speed and comfort, making them suitable for both paved and light off-road trails. The '30-40 mm' segment is gaining traction due to the increasing popularity of gravel riding and adventure cycling. These tires offer improved stability and grip on rough terrain, making them suitable for exploring off-road paths and unpaved roads. The 'More than 40 mm' segment is expected to experience significant growth, driven by the rise of fat biking and mountain biking. These tires provide exceptional traction and stability in challenging off-road conditions, making them ideal for extreme riding enthusiasts.Overall, the Bicycle Tire Market segmentation by width offers valuable insights into the diverse needs of cyclists and the evolving market trends, enabling manufacturers to cater to the specific requirements of different riding styles and preferences.
The tread pattern segment is a key factor in determining the performance and suitability of bicycle tires for different types of terrain and riding conditions. The three main tread patterns are slick, knobby, and intermediate. Slick tires have a smooth tread pattern with no knobs or lugs. They offer the lowest rolling resistance and are, therefore, the fastest tires on paved roads. However, they provide less grip on loose or uneven surfaces. Knobby tires have a tread pattern with large, widely spaced knobs or lugs. They offer the most grip on loose or uneven surfaces, such as dirt, gravel, and snow.However, they have higher rolling resistance than slick tires, which makes them slower on paved roads. Intermediate tires have a tread pattern with smaller, more closely spaced knobs or lugs than knobby tires. They offer a compromise between the speed of slick tires and the grip of knobby tires. The growth of the segment is driven by the increasing popularity of mountain biking and other off-road cycling activities.
The Application segment of the Bicycle Tire Market is categorized into Road, Mountain, Hybrid, and Commuter. Among these, the Road segment is projected to hold the largest market share in 2023, owing to the popularity of road cycling and the increasing demand for high-performance tires. The Mountain segment is expected to witness significant growth over the forecast period, driven by the growing popularity of mountain biking and the introduction of new technologies. The Hybrid segment is also expected to grow steadily, as these tires offer a versatile option for both on-road and off-road riding.The Commuter segment is expected to grow at a moderate pace, driven by the increasing adoption of bicycles for commuting purposes. Overall, the Bicycle Tire Market is expected to experience steady growth over the forecast period, driven by the increasing popularity of cycling and the growing demand for high-quality tires.
The Bicycle Tire Market segmentation by Region includes North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The growth of the bicycle tire market in North America can be attributed to the increasing popularity of cycling as a recreational activity, as well as the growing number of bike commuters. Europe is the second-largest market for bicycle tires and is expected to experience steady growth over the forecast period.The growth of the bicycle tire market in Europe can be attributed to the increasing popularity of electric bicycles, as well as the growing number of bike-sharing programs. The APAC region is expected to experience the fastest growth in the bicycle tire market over the forecast period. The growth of the bicycle tire market in the APAC region can be attributed to the increasing popularity of cycling as a mode of transportation, as well as the growing number of bicycle manufacturers in the region. South America and MEA are expected to experience modest growth in the bicycle tire market over the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
In response to the rapidly changing market conditions, major players in the Bicycle Tire Market are continuously coming up with new strategies and developing new products. Bicycle Tire Market's leading players adopt Corning strategies, invest in research and development, and continuously develop new products that are designed to meet the evolving needs and requirements of customers. Moreover, the Bicycle Tire Market's leading companies are putting more effort into expanding their global presence by acquiring companies and forming new MERCER partnerships. With the emergence of new players, the competitive rivalry in the Bicycle Tire Market is expected to become more intense.
Companies operating in the Bicycle Tire Market need to focus on customers and meet their current and future needs. For this purpose, Bicycle Tire Market players need to focus on delivering high-quality products at a lower price. Additionally, companies need to form strategic manufacturing alliances and partnerships with other companies, which will provide them access to new technologies and markets.
One of the main competitors in the Bicycle Tire Market is headquartered in France. The company has a strong global presence and has production facilities in a number of countries throughout the world. Michelin, Inc. offers a wide range of bicycle tires, including road, mountain bike and hybrid tires. Michelin management is focused on delivering high-quality and innovative products to satisfy the needs and requirements of customers. Every year, Michelin management spends a significant amount of money on research and development to come up with new tire technologies and designs. The company capitalizes on its strong brand name, broad global presence, and leading position in the bicycle tire market.
Another main competitor is headquartered in Germany. Schwalbe has a strong presence in Europe and North America. Currently, Schwalbe, Inc. offers a wide range of bicycle tires, including road tires, mountain bike tires and e-bike tires. Schwalbe's management team invested substantial amounts in research and development and was the first to use the triple compound. In its operations, the Schwalbe management team practices sustainability and environmental friendliness. Schwalbe is committed to delivering high-performance and environmentally safe products and generates rather a large portion of sales revenue from eco-friendly products. Due to its customer focus, Schwalbe has a loyal customer base and leads in the bicycle tire market.
Technological advancements, such as the development of tubeless tires and puncture-resistant materials, are further fueling market expansion. Key industry participants are investing in research and development to enhance product performance and durability. Mergers and acquisitions are also prevalent in the market as companies seek to expand their product portfolios and geographic reach.
| Report Attribute/Metric | Details |
| Market Size 2022 | 21.36 (USD Billion) |
| Market Size 2023 | 22.41 (USD Billion) |
| Market Size 2032 | 34.5 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 4.91% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Pirelli, SunRace, CST, Schwalbe, Continental, IRC Tire, Arisun Industrial, Kenda, Vittoria, Hutchinson, Maxxis, Cheng Shin Rubber, Innova Tires, Panaracer, Michelin |
| Segments Covered | Type, Material, Width, Tread Pattern, Application, Regional |
| Key Market Opportunities | 1 Performance Tire Growth2 Gravel Tires3 Ebike specific |
| Key Market Dynamics | Increasing popularity of cycling Growing demand for mountain biking Advancements in tire technology Focus on sustainability Ebike proliferation |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Bicycle Tire Market is projected to reach a value of USD 28.41 billion by 2032, exhibiting a CAGR of 4.91% during the forecast period (2024-2032).
Asia Pacific currently dominates the Bicycle Tire Market and is expected to maintain its dominance throughout the forecast period. The region's extensive bicycle manufacturing industry and rapidly expanding cycling infrastructure contribute to its substantial market share.
The increasing popularity of cycling as a recreational activity, the growing adoption of bicycles for commuting and transportation, and the rising demand for high-performance tires for professional cycling are the primary growth drivers of the bicycle tire market.
The road bicycle tire segment is anticipated to exhibit the highest growth rate during the forecast period. The increasing popularity of road cycling, particularly in emerging markets, is driving the demand for high-quality tires designed for speed and efficiency.
The Bicycle Tire Market is dominated by a few key players, including Michelin, Continental, Schwalbe, Maxxis, and CST. These companies hold a significant market share and are continuously investing in research and development to offer innovative and technologically advanced tire solutions.
The bicycle tire market faces challenges such as the fluctuating prices of raw materials, intense competition from low-cost manufacturers, and the impact of e-bikes on traditional bicycle tire demand. Additionally, environmental concerns and regulations related to tire disposal can affect market dynamics.
The growing adoption of tubeless tires, the increasing use of graphene-enhanced tires for improved durability and rolling resistance, and the emergence of smart tires with integrated sensors for performance monitoring are some of the emerging trends shaping the bicycle tire market.
The COVID-19 pandemic had a positive impact on the bicycle tire market as it led to an increased demand for bicycles for transportation and recreation. However, supply chain disruptions and production delays posed challenges for manufacturers during this period.
Expanding into emerging markets, developing innovative tire technologies, focusing on sustainability, and exploring partnerships and collaborations are some of the key opportunities for growth in the Bicycle Tire Market.
The long-term outlook for the Bicycle Tire Market remains positive, driven by the increasing popularity of cycling, the growing adoption of e-bikes, and the focus on sustainable transportation solutions. The market is expected to witness steady growth in the coming years.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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