Mountain Bikes Market Share, Size, Trends, Industry Analysis Report, By Type; By Application; By Distribution Channel (Specialty Bicycle Retailers, Mass Merchants, Full-Line Sporting Goods Stores, Outdoor Specialty Stores, Others); By Region; Segment Forecast, 2023 - 2032
- Published Date:Mar-2023
- Pages: 116
- Format: PDF
- Report ID: PM1362
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global mountain bikes market was valued at USD 9.17 million in 2022 and is expected to grow at a CAGR of 11.2% during the forecast period. The growing demand for sports and adventure activities drives the market's growth. The rise in disposable income and improving living standards encourage consumers to participate in adventure activities, supporting the market's growth. The significant increase in women participating in adventure sports and developing e-commerce platforms supports the market's growth.
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Supportive initiatives from governments and private organizations to promote sports activities have accelerated the adoption of mountain bikes across the globe. Other factors driving the market include technological advancements, increasing demand for electric mountain bikes, growing environmental concerns, and rising tourism activities. Growing demand from emerging economies and increasing health awareness are expected to offer growth opportunities during the forecast period.
Mountain bikes are bicycles manufactured for off-road travel that can ride on gravel, dirt roads, and uneven terrains. These mountain bikes offer environment-friendly, healthy, and sustainable transport to riders. Mountain bikes have advanced suspension systems to absorb shock in rough terrains. They offer enhanced durability and performance in rocky and mountainous landscapes, grassy regions, and steep slopes.
Furthermore, the mountain bikes market is expected to experience significant growth soon, driven by several factors. These include a growing number of cross-country competitions, a rising preference for adventure tourism, the increasing cost of fuel, a rise in disposable income in developing nations, and a growing population of female mountain bikers. Together, these factors are expected to provide strong support for the growth of the mountain bike market.
Mountain bikes are designed for high-performance off-road cycling, offering durability and sturdiness for rough terrains. North America holds the largest share of the mountain bike market, owing to the presence of bike manufacturers and the popularity of competitions like cross-country, dirt jumping, downhill, and free riding. However, COVID-19 has impacted the industry, reducing demand due to production shutdowns and delays. Companies with significant market share are expected to fill the gap in production, while smaller companies launching new products may be at higher risk. Post-lockdown, cycling events with social distancing and sanitization protocols drove demand for mountain bikes.
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Industry Dynamics
Growth Drivers
Several key factors drive the mountain bike market, including the increasing popularity of adventure tourism and outdoor recreational activities, such as mountain biking. This trend has led to a growing demand for mountain bikes that can withstand rugged terrain and provide an enjoyable riding experience.
Another factor driving the market growth is the rising number of cross-country competitions and events. These events require high-performance mountain bikes, driving demand for advanced, specialized models. The growing disposable income in developing countries also contributes to the market's growth, as more consumers are willing to invest in premium mountain bikes. Additionally, more women participate in mountain biking, increasing demand for women-specific mountain bikes.
Technological advancements and product innovations in the mountain bike industry also drive growth, such as using lightweight materials and advanced suspension systems. These innovations have improved the overall performance and durability of mountain bikes. The market also benefits from the growing environmental awareness and preference for sustainable transportation options. This trend has led to higher demand for eco-friendly mountain bikes, which have a minimal ecological impact.
Expanding mountain biking infrastructure, such as trails, bike parks, and rental services, also drives market growth. The development of new tracks and bike parks has increased accessibility for riders. In contrast, the availability of rental services has made it easier for consumers to try out the sport without purchasing their mountain bike.
In addition, the increasing popularity of e-mountain bikes is contributing to market growth. These bikes offer electric assistance, making them a more accessible option for riders of varying skill levels. This trend has helped to broaden the appeal of mountain biking, leading to increased demand for e-mountain bikes.
Report Segmentation
The market is primarily segmented based on type, application, distribution channel, and region.
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By Type |
By Application |
By Distribution Channel |
By Region |
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Cross country mountain bike segment accounted for the largest market share
Cross country mountain bike segment accounted for the largest market share in 2022. Cross-country mountain bikes are a significant driver of the mountain bike market. The rising number of cross-country competitions and events drives demand for high-performance mountain bikes that handle rugged terrain and steep climbs. Cross-country mountain biking involves riding long distances with minimal elevation gain, making it a challenging and endurance-focused activity.
In addition to their popularity among competitive riders, cross-country mountain bikes are popular among recreational riders who enjoy long, challenging rides. As more people take up mountain biking as outdoor recreation, the demand for cross-country bikes is expected to grow.
The leisure segment is anticipated to grow rapidly over the forecast period
The leisure segment is expected to see significant growth during the forecast period due to the rising interest among young people worldwide in trekking and recreational activities. This trend is expected to continue as more people seek healthy and environmentally friendly ways to spend their leisure time.
However, the competition segment of the mountain bike market is also anticipated to account for a large share of the market in the coming years. This is due to the increasing popularity of mountain bike competitions and events worldwide, particularly in developed regions like Europe and North America. The demand for high-performance mountain bikes is expected to rise as more riders compete in cross-country races and other events.
The specialty bicycle retailers’ segment is projected to grow at the fastest CAGR
During the forecast period, the specialty bicycle retailers’ segment is expected to see the fastest revenue CAGR, driven by several factors. These include the increasing number of specialty bicycle retailers, the rising demand for sports bicycles, and the growing popularity of mountain biking as a sport and recreational activity. The growth in specialty bicycle retailers can be attributed to the surge in demand for high-quality bikes, especially in developed regions such as Europe and North America.
Moreover, more people are choosing bicycles as an eco-friendly and sustainable mode of transportation, leading to a rise in the number of people opting for sports bicycles, such as mountain bikes. Consequently, the specialty bicycle retailers segment is anticipated to grow significantly during the forecast period.
North America is anticipated to grow prominently during the forecast period
North America is expected to lead the mountain bike market during the projected period due to several factors. The region has a strong culture of recreational activities and a high willingness to spend on them, and numerous mountain biking competitions are held throughout the area. Additionally, Canada boasts some of the world's most impressive mountain biking locations due to its vast range of mountains. The North American market is also driven by major global players operating within the region.
In addition, Europe was experiencing steady growth in the mountain bike market. The COVID-19 pandemic led to increased demand for outdoor activities and exercise, and many people turned to mountain biking to get outside while maintaining social distancing.
Competitive Insight
Some of the major players operating in the global market include BH BIKES EUROPE SL, Pivot Cycles EU GmbH, Marin Mountain Bikes Inc., XDS Bike Co., Alta Cycling Group, Grimaldi Industri AB, Kona Bicycle Co., Rocky Mountain Bicycles, Merida Industry Co. Ltd., Pending System GmbH & Co. KG, LAPIERRE SA, Giant Manufacturing Co. Ltd., Santa Cruz Bicycles LLC, Guangzhou Trinity Cycles Co. Ltd., Trek Bicycle Corp., Norco Bicycles, Pon Holdings BV, and Fuji Bikes.
Recent Developments
- In April 2022, Hero International (HIT) expanded its manufacturing operations for electric bikes by adding a new assembly plant to its Manchester facility, with a production target of 50,000 bikes within three years. The company aims to produce premium electric cycles and push bikes with IoT capabilities for customers in the United Kingdom and European Union.
- In July 2021, Greyp launched the Greyp e-SUV T5, its latest high-tech electric trekking bike. This new model has cutting-edge features, including an integrated eSIM for advanced connectivity, a powerful electric motor, and a 700 Wh battery that can provide up to 100 km of range on a single charge.
Mountain Bikes Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 10.14 billion |
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Revenue forecast in 2032 |
USD 26.41 billion |
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CAGR |
11.2% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments Covered |
By Type, By Application, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
BH BIKES EUROPE SL, Pivot Cycles EU GmbH, Marin Mountain Bikes Inc., XDS Bike Co., Alta Cycling Group, Grimaldi Industri AB, Kona Bicycle Co., Rocky Mountain Bicycles, Merida Industry Co. Ltd., Pending System GmbH & Co. KG, LAPIERRE SA, Giant Manufacturing Co. Ltd., Santa Cruz Bicycles LLC, Guangzhou Trinity Cycles Co. Ltd., Trek Bicycle Corp., Norco Bicycles, Pon Holdings BV, and Fuji Bikes. |
FAQ's
The mountain bikes market report covering key segments are type, application, distribution channel, and region.
Mountain Bikes Market Size Worth $ 26.41 Billion By 2032.
The global mountain bikes market expected to grow at a CAGR of 11.2% during the forecast period.
North America is leading the global market.
Key driving factor in the mountain bikes market are increasing popularity of adventure tourism and outdoor recreational activities.
