According to a new market research report published by Credence Research “Bicycle Tires Market (By Product Type– Tubed, Tubeless and Airless; By Application: On-road and All Terrain) – Growth, Future Prospects, Competitive Analysis and Forecast 2017 – 2025”, the global bicycle tires market was valued at US$ 4.9 Bn in 2016 and is expected to grow at a CAGR of 5.7% during the forecast period from 2017 to 2025.
The purpose of the report is to illustrate the state of the market of Bicycle Tires, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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Bicycle tires industry has witnessed high growth in the recent years on account of factors such as rising health awareness, resulting into higher bicycle sales. Due to increased sedentary lifestyle across the world, disorders such as obesity and cardiovascular diseases have posed serious threat to human health. Subsequently, several people are turning towards healthy practices so as to maintain healthy lifestyle. Bicycles are among the easiest and effective solutions promoting better health and greener mode of commute. Cycling helps burning nearly 500 calories per hour providing an excellent workout session.
The overall bicycle tires market is primarily driven by the consistently rising bicycle sales worldwide. Several countries such as China, Japan and many of the European countries have embraced cycling as their mode of transportation. Due to high health awareness across the regions, bicycles are witnessing increased adoption for fitness as well as transit. Apart from this, the bicycles industry has also witnessed strong growth due to factors such as growing bicycle sports activities and promotional measures undertaken by national governments. Various national governments emphasize on developing a separate infrastructure for cyclists so as to minimize any on-road mishaps.
Apart from the aforementioned factors, the overall bicycle tires market is also supported by the advent of several tire designs. In order to provide optimum convenience and safety, various tire designs such as tubeless tires, foldable tires, studded tires, puncture resistant tires and soft/hard rubber tires. In addition, over the period of time, all-terrain bicycle tires have been designed to ensure a safe and stable ride on any type of surface.
The global bicycle tires market is fairly fragmented with numerous leading providers of bicycle tires operating in various major markets across the world. The key players of bicycle tires market include MICHELIN, Continental AG, Vittoria Group, Kenda Tires, Maxxis International–USA, Schwalbe Tires North America, Inc., SUOMEN RENGASTEHDAS OY, Ralson Tyres, Zhongce Rubber Group Company Limited, and Hwa Fong Rubber Ind. Co., Ltd. High competition is experienced among the major players of bicycle tires manufacturers. Consistent rise in the people using a bicycle for daily commute has boosted the overall demand for bicycles. Consequently, the demand for the bicycle tires has also escalated considerably. Bicycle tire manufacturers are adopting different strategies such as the expansion of their global reach and strengthening their sales and distribution network. Making partnerships with eminent sports professionals and sponsoring major bicycle events for their brand promotion is one of the prime strategies inculcated by the bicycle tires manufacturers.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Bicycle Tires buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Bicycle Tires contains:
Analysis and forecast of Bicycle Tires market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Bicycle Tires market;
Assessment and forecast of Bicycle Tires market development;
Financial and business profiles of the leading companies in the Bicycle Tires industry.
– Up to date working Bicycle Tires data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Bicycle Tires for the period 2018 to 2026
– Planned Bicycle Tires additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Bicycle Tires projects by region, key countries, and companies
– Details of major planned Bicycle Tires projects in the world up to 2026
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