Market Scenario:
Mountain bike is a bicycle designed for off-road cycling incorporating features which enhance durability and performance in rough terrain. Mountain bike differ from mainstream bikes in front or full suspension, durable wheels with larger tires, powerful brakes, and lower gear ratios designed for steep terrain. The global mountain bike market is expected to generate a ~10% CAGR during the forecast period.
Industry news:
Feb 2018 – American Cycle Systems Inc. acquired Bar Fly, manufacturer of mounts for handlebar-mounted devices such as cameras, GPS units etc.
December, 2017 – Industry veteran Jay Thomas acquired Champion System USA.
July, 2017 – aerodynamics testing and measurement technology service provider Alphamantis Technologies Inc., was acquired by Garmin.
August 2017 – Pon Holdings and Accell Group, are rumored to be holding talks of merger which is expected to result in market consolidation in the European mountain bikes industry.
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Market Dynamics:
Drivers
Growing popularity of adventure sports and concurrent growth in number of mountain bike races such as FMB World Tour and the Red Bull Rampage are chief drivers of the market.
Technological advancements in materials and design are other key determinants of the market. The recent decade has witnessed the emergence of carbon-fiber, titanium, as durable and lighter materials in place of the traditional aluminum frames which has enabled bicycles under 10 kg. A similar evolution has occurred in suspension with full suspension replacing the hard tail.
Similar developments have been also notices in the gears and braking systems. 10-speed gear systems have become the norm while disk brakes are rapidly becoming the new default. Tubeless tires are gaining increasing favor over the traditional tube tires.
Restraints
High costs and high maintenance coupled with increasing weight of the bikes due to technical enhancements such as suspensions and discs are hampering the market. Large market fragmentation and poor per capita income are other constraints on the market.
Segmentation:
To enable an accurate assessment of the global mountain bike market the report has been segmented by design and suspension configuration and regions.
Designs – Cross country, all-mountain (AM), free ride bikes, downhill, dirt jumping bikes and others.
Suspension configuration – rigid, hard tail, and full suspension
Regions – North America, Europe, Asia Pacific and Rest of the World
Regional Analysis:
North America is anticipated to account for the largest market owing to high popularity of mountain biking adventure sport, large per capita income, organized nature of mountain biking sporting body in form of National Collegiate Cycling Association, large number of competition such as the National Mountain Bike Series and others. The growing influence of media and tourism are also driving the market indirectly and so is the increasing awareness of health benefits associated with biking.
Europe accounts for the second largest market led by Germany, France and others. The Asia Pacific market is expected to generate the fastest growth during the forecast period. The Asia Pacific region is expected to be led by China followed by India. Middle East and Africa are poised to generate moderate growth skewed in favor of the Gulf economies of Saudi Arabia, and UAE.
Prominent Players:
The prominent players in the global mountain bike market are GT Bicycles (U.S.), Giant Manufacturing Co. Ltd. (Taiwan), Merida Industry Co., Ltd (Taiwan), Trek Bicycle Corporation (U.S.), Specialized Bicycle Components, Inc. (U.S.), Kona Bike (U.S.), Cannondale Bicycle Corporation (U.S.), Rocky Mountain Bicycles (Canada), Santa Cruz Bicycles (U.S.), Marin Bikes Company (U.S.) and Diamondback Bicycles (U.S.) and others.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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