Key Highlights
- The global mountain bike market was valued at approximately $4.1 billion in 2021
- The industry is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2022 to 2030
- North America held over 35% of the mountain bike market share in 2021
- The Asia-Pacific region is projected to witness the highest growth rate, with a CAGR of 10%
- E-mountain bikes accounted for approximately 25% of global mountain bike sales in 2021
- The mountain bike segment in the US grew by 12% in units sold during 2022
- The average price of a mountain bike increased by 5% from 2021 to 2022, reaching around $850
- The mountain bike accessories market is projected to reach $1.5 billion by 2025
- The online sales channel for mountain bikes grew by 20% in 2022
- Mountain biking is recognized as one of the fastest-growing sports in the US with over 8 million participants in 2022
- The number of mountain bike riders in Europe increased by 15% between 2018 and 2022
- Around 60% of mountain bikes sold globally are designed for trail riding
- Kids’ mountain bikes make up about 20% of the total market share in 2022
The mountain bike industry is blasting into new heights, with a global valuation of $4.1 billion in 2021 and an anticipated $12 billion by 2030, fueled by a surge in electric bikes, rising participation rates, and expanding markets across North America, Europe, and Asia-Pacific alike.
Growth
- The mountain bike segment in the US grew by 12% in units sold during 2022
Growth Interpretation
Growth, Trends, and Market Size
- The COVID-19 pandemic led to a 35% increase in mountain biking participation in 2020
Growth, Trends, and Market Size Interpretation
Growth, and Trends
- The online sales channel for mountain bikes grew by 20% in 2022
- The number of mountain bike riders in Europe increased by 15% between 2018 and 2022
- Overall participation in mountain biking in Australia increased by 10% in 2022
- The number of mountain bike trail centers worldwide has increased by 40% since 2015, reaching over 2,000 centers by 2023
Growth, and Trends Interpretation
Market Segmentation and Consumer Demographics
- Around 60% of mountain bikes sold globally are designed for trail riding
- Kids’ mountain bikes make up about 20% of the total market share in 2022
- Major brands like Trek, Specialized, and Giant hold over 70% of the global mountain bike market share
- Electric mountain bikes (e-MTBs) account for over 45% of premium bike sales in North America
- The average spend per mountain biker in the US is around $600 annually on equipment and accessories
- Women’s mountain bikes represent about 25% of all mountain bike sales globally
- About 65% of mountain bikes sold are suited for cross-country riding, the most popular category
- Approximately 80% of mountain bikers own more than one bike, showcasing diverse riding needs
- The average age of mountain bike riders worldwide is approximately 35 years old, with a rising trend among younger demographics
- The majority of mountain bike riders (around 75%) participate mainly in trail riding, with downhill and cross-country following
- Approximately 90% of mountain bikes sold in emerging markets are imported, primarily from Asia, due to limited local manufacturing
- The share of women participating in bike parks and downhill mountain biking increased by 20% from 2018 to 2022, reflecting broader inclusion
- The average distance traveled per mountain biking trip is approximately 12 miles, with some riders covering over 30 miles in a day
Market Segmentation and Consumer Demographics Interpretation
Market Size, Growth, and Trends
- The global mountain bike market was valued at approximately $4.1 billion in 2021
- The industry is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2022 to 2030
- North America held over 35% of the mountain bike market share in 2021
- The Asia-Pacific region is projected to witness the highest growth rate, with a CAGR of 10%
- E-mountain bikes accounted for approximately 25% of global mountain bike sales in 2021
- The average price of a mountain bike increased by 5% from 2021 to 2022, reaching around $850
- The mountain bike accessories market is projected to reach $1.5 billion by 2025
- Mountain biking is recognized as one of the fastest-growing sports in the US with over 8 million participants in 2022
- The average annual growth rate of e-MTB sales from 2018 to 2022 was around 18%
- The MTB tire market is expected to reach $250 million by 2024 globally
- Aluminum remains the most popular frame material, used in about 60% of mountain bikes in 2022
- Mountain bike components market, including suspensions and drivetrains, is projected to reach $2.5 billion by 2025
- The number of mountain biking events and competitions increased by 22% in 2022, with over 1,200 events worldwide
- The global mountain bike apparel market is expected to reach $1 billion by 2026, with an annual growth rate of 7%
- The largest mountain bike manufacturer by revenue is Giant Bicycles, with estimated revenues exceeding $950 million in 2022
- Over 12 million mountain bikes are sold annually worldwide, with a significant increase noted during the pandemic years
- The trend toward lightweight mountain bikes has led to a 15% increase in demand for advanced carbon and aluminum frames from 2019 to 2022
- The mountain biking community has grown significantly on social media platforms, with a 30% increase in followers across major brands from 2020 to 2023
- The average retail price of a full-suspension mountain bike is approximately $1,200 in 2022, up from $1,050 in 2021
- The number of women participating in mountain bike racing has increased by 25% over the last three years, originating more female-led events
- The global demand for mountain bike tires is projected to grow at a CAGR of 6% through 2025, reaching $400 million
- The most popular mountain bike suspension system sold in 2022 was full suspension, accounting for approximately 70% of the market
- The average rider in North America rides about 15 times a year, with an average session duration of 2 hours
- Bike-sharing programs in urban areas that include mountain bikes increased by 45% between 2018 and 2022, facilitating outdoor activity and tourism
- The online mountain bike retail segment grew to represent approximately 25% of total sales in 2022, which is a 10% increase from 2020
- The demand for sustainable and eco-friendly materials for mountain bike manufacturing increased by 20% from 2021 to 2023, reflecting growing environmental concerns
- The global mountain bike market is expected to generate over $12 billion in revenue by 2030, considering the current growth trends
- Mountain bike maintenance and repair services saw a 25% increase in demand during 2020-2022, driven by increased riding activity
- The use of e-MTBs in professional racing events has increased by 30% since 2019, indicating rising acceptance of electric technology
- The development and adoption of smart bike technology, including GPS and performance tracking, increased by 40% from 2020 to 2023
- The average annual expenditure on mountain biking clothing and accessories in Europe is estimated at €250 per rider, contributing to a €1.5 billion market in the continent
- The number of mountain biking YouTube channels grew by 50% between 2019 and 2023, indicating rising digital interest in the sport
- Mountain bike training programs and coaching services have seen a 35% increase in enrollment from 2020 to 2023, driven by growing interest among newer riders
- The global demand for mountain bike helmets is expected to reach $600 million by 2025, expanding safety awareness
- The market share of used mountain bikes increased by 15% in 2022 as more riders seek affordable options
Market Size, Growth, and Trends Interpretation
Product and Material Innovations
- Carbon fiber is used in about 30% of high-end mountain bikes, contributing to weight reduction and durability
- The average lifespan of a mountain bike frame is approximately 8 years with proper maintenance
- The average weight of a modern mountain bike is approximately 28 pounds (13 kg), with high-end models weighing less
- The number of mountain bike patents filed globally increased by 18% between 2017 and 2022, reflecting innovation in the industry
Product and Material Innovations Interpretation
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