Bicycle tire market forecast with a CAGR of 6 percent

Pune, India – The Bicycle Tire market is expected to grow annually by 6% (CAGR 2023 – 2030) according to Reliable Research Reports.

The Bicycle Tire market has been experiencing significant growth in recent years, and this trend is expected to continue through 2030. A variety of factors have contributed to this growth, including increased demand for Bicycle Tire products and services, technological advancements, and changing consumer behavior.

Another trend in the Bicycle Tire market is the increasing adoption of artificial intelligence and machine learning technologies. These technologies are being used to automate tasks, improve accuracy and efficiency, and enhance the overall customer experience. This has led to the development of innovative new products and services, as well as more personalized and targeted marketing campaigns.

The bicycle tire market has witnessed substantial growth in regions such as North America (NA), Asia-Pacific (APAC), Europe, the United States of America (USA), and China. The market growth can be attributed to factors such as the increasing popularity of cycling as a healthy lifestyle activity, technological advancements in tire manufacturing, and the growing adoption of electric bicycles.

The APAC region is expected to dominate the bicycle tire market, with a market share of approximately 50% by the end of 2025. China is a major contributor to this growth, owing to the increasing adoption of bicycles as a primary mode of transportation in the country. The European region is also expected to witness significant growth, with a market share of approximately 30% by 2025, driven by the rising demand for eco-friendly transportation options. The remaining market share will be divided among the NA and USA regions.

Overall, the bicycle tire market is expected to continue its growth trajectory in the foreseeable future, with the increasing focus on sustainability and the popularity of cycling as a leisure activity driving demand for high-performance and durable tires.

Companies Covered: CHENG SHIN, Continental, Kenda, Hangzhou Zhongce, and Hwa Fong are all companies that produce bicycle tires. Among them, Continental and Kenda are the market leaders in terms of global market share, while Hangzhou Zhongce and Hwa Fong are new entrants trying to establish themselves as players in the market.