Global Bicycle Tire (BC) Market to Witness Growth Acceleration by 2028

The global bicycle tire (BC) market is expected to grow at a CAGR of 4.5% during the forecast period (2022-2028). Rising demand for bicycles has resulted in an increasing growth of the market. The growing popularity of cycling competitions has also expanded the demand for aftermarket tires. There are numerous opportunities witnessed for bicycle tires. The demand for sports bicycles will rise in the coming years owing to the increased use of bicycles in trekking and leisure activities and an increase in the number of cycling events. The number of biking expeditions to difficult terrains, such as steep mountain ranges, has increased in recent years. The growing popularity of such expeditions is expected to drive demand for bicycles, which will benefit sales of bicycle tires.  The COVID-19 pandemic crisis had a significant impact on global economies, resulting in national lockdowns, social distancing, and the postponement of numerous automotive projects and plans. Supply chain disruptions and a drop in demand from bicycle tires have slowed market growth.

Key market participants are acquiring other firms to expand their business presence in other parts of the world. For instance, in June 2021. The Goodyear Tire & Rubber Company acquired Cooper Tire & Rubber Company. The combination unites two crucial tire companies with complementary product portfolios, services and capabilities to create a stronger US-based leader in the global tire industry. The combined company will offer more options across the value spectrum making it easier for customers and consumers to choose Goodyear- and Cooper-branded tires.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Michelin, The Goodyear Tire & Rubber Co., and Continental AG, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Bicycle Tire (BC) Market Report by Segment

By Type

• Clinchers
• Tubulars
• Tubeless

By Application

• Normal Using Bike
• Off-Road Bike
• Racing Bike
• Other