The Latest Mountain Bike Industry Statistics Explained
The global mountain bike market is expected to grow at a CAGR of 10% from 2020 to 2027.
This statistic indicates that the global mountain bike market is projected to experience a Compound Annual Growth Rate (CAGR) of 10% between the years 2020 and 2027. CAGR is a measure used to represent the average annual growth rate of an investment over a specified period of time. In this context, it suggests that the mountain bike market is anticipated to expand steadily at a rate of 10% per year throughout the forecasted period. This promising growth trend signifies increasing demand for mountain bikes worldwide, likely driven by factors such as rising interest in outdoor activities, health and wellness trends, technological advancements in bike manufacturing, and growing awareness of eco-friendly transportation options.
Europe holds the largest market share for mountain bikes worldwide, amounting to 31.08% in 2019.
The statistic indicates that in 2019, Europe dominated the global market for mountain bikes by holding the largest market share, accounting for 31.08% of all mountain bike sales worldwide. This suggests that European consumers have a strong interest and demand for mountain bikes compared to other regions. This could be influenced by factors such as a high level of outdoor recreation activities, a culture of cycling, and a developed cycling infrastructure in many European countries. The statistic also implies that mountain bike manufacturers and retailers may need to tailor their marketing strategies and product offerings to cater to the preferences and needs of European consumers in order to capitalize on this market dominance.
The U.S. mountain bike market size was valued at USD 577.2 million in 2018.
The statistic indicates that the total value of the U.S. mountain bike market was estimated to be USD 577.2 million in 2018. This figure reflects the overall economic significance of mountain biking in the U.S. during that year. It suggests that consumers in the U.S. spent a substantial amount on mountain bikes and related accessories, highlighting the popularity and demand for this particular segment of the cycling industry. This information is useful for businesses, policymakers, and investors who are interested in understanding the market dynamics and potential opportunities within the mountain bike industry in the U.S.
In 2019, there were over 3.3 million mountain bike trail riders in Australia.
The statistic, “In 2019, there were over 3.3 million mountain bike trail riders in Australia,” indicates the estimated number of individuals who participated in mountain biking on designated trails in Australia during that year. This information suggests a significant level of interest and engagement in the activity across the country, highlighting the popularity of mountain biking as a recreational pursuit. The statistic provides valuable insight into the scale of participation in this outdoor sport, revealing the extent to which Australians are actively involved in exploring and enjoying nature through mountain biking adventures.
There was an 8% growth of the mountain bike industry in Australia from 2018-2019.
The statistic that there was an 8% growth of the mountain bike industry in Australia from 2018 to 2019 indicates that the total market size for mountain bikes in Australia increased by 8% over that one-year period. This growth suggests that there was an increase in the demand for mountain bikes during this time, possibly due to factors such as changing consumer preferences, marketing efforts by industry players, or broader economic trends. As a result, businesses operating in the mountain bike industry in Australia likely experienced an increase in sales and revenue, reflecting a positive trend for the industry as a whole.
China is the fastest growing market for mountain bikes with an expected CAGR of 12.6% from 2020 to 2027.
The statistic indicates that China’s market for mountain bikes is experiencing rapid growth, as it is projected to have a Compound Annual Growth Rate (CAGR) of 12.6% from 2020 to 2027. This implies that the market is expanding at a steady rate over the specified time period. Several factors could be driving this growth, such as increasing disposable income, rising popularity of outdoor activities, and a growing interest in fitness among the Chinese population. The statistic suggests that China presents a significant opportunity for businesses operating in the mountain bike industry to expand their market presence and capitalize on the growing demand for mountain bikes in the country.
In terms of product, the cross country bikes segment led the mountain bike market and accounted for the largest revenue share of more than 44.0% in 2019.
In 2019, the cross country bikes segment emerged as the leader in the mountain bike market in terms of product, dominating with a revenue share exceeding 44.0%. This statistic highlights the popularity and success of cross country bikes within the broader mountain bike market, indicating their strong demand and consumer preference. The substantial revenue share showcases the significant contribution of cross country bikes to the overall market, underscoring their importance as a key product category. This data suggests that the cross country bikes segment not only holds a competitive edge over other types of mountain bikes but also signifies a thriving market for this particular product category, showcasing a robust performance in the industry in 2019.
70% of mountain bikes sold in 2020 were priced below $1,000.
The statistic “70% of mountain bikes sold in 2020 were priced below $1,000” indicates that the majority of mountain bikes purchased in 2020 were relatively affordable, costing less than $1,000. This suggests that the market for mountain bikes caters largely to budget-conscious consumers, with a significant portion of sales occurring in the lower price range. It could be reflective of the demand for more accessible or entry-level mountain bikes among consumers, potentially driven by factors such as cost considerations, beginner riders entering the sport, or general preferences for lower-priced options. This information provides insight into the pricing dynamics within the mountain bike industry in 2020 and can help inform decisions related to product positioning, marketing strategies, and product development within this market segment.
In the UK, sales of mountain bikes grew by 60% in 2020.
The statistic “In the UK, sales of mountain bikes grew by 60% in 2020” indicates a significant increase in the number of mountain bikes sold in the UK in the year 2020 compared to the previous year. A 60% growth rate suggests a substantial rise in consumer interest and demand for mountain bikes, potentially driven by factors such as increased outdoor activities due to the COVID-19 pandemic, a shift towards sustainable transportation options, or a growing trend towards fitness and wellness activities. This statistic reflects a positive trend in the cycling industry, signaling potential opportunities for bike manufacturers, retailers, and other related businesses, as well as highlighting the evolving consumer preferences in the UK market.
There are over 50 million people in the US who participate in mountain biking on a yearly basis.
The statistic that over 50 million people in the US participate in mountain biking on a yearly basis represents a significant portion of the population engaging in this outdoor recreational activity. This statistic highlights the widespread popularity of mountain biking as a leisure pursuit and suggests that it has become a mainstream activity enjoyed by a large number of individuals across the country. The high number of participants also indicates the economic impact of mountain biking, as it supports industries related to biking equipment, accessories, and tourism. Additionally, this statistic underscores the importance of outdoor physical activities for maintaining a healthy lifestyle and promoting overall well-being among Americans.
The age group of 25-44 years dominates the mountain bike industry.
The statistic ‘The age group of 25-44 years dominates the mountain bike industry’ suggests that individuals between the ages of 25 and 44 constitute the largest proportion of consumers within the mountain bike market. This age group is likely the most active and engaged demographic in terms of participating in mountain biking activities, purchasing mountain bike products, and being involved in the overall culture and community surrounding mountain biking. Understanding this demographic dominance can be crucial for businesses and marketers aiming to effectively target and cater to the preferences and needs of this key consumer group within the mountain bike industry.
The Latin America mountain bike market is expected to witness the fastest growth over the forecast period, registering a CAGR of 11.3%.
This statistic indicates that the mountain bike market in Latin America is projected to experience significant growth at a compounded annual growth rate (CAGR) of 11.3% over the forecast period. This high growth rate suggests a growing interest and demand for mountain biking in the region, potentially driven by factors such as increasing disposable income, rising popularity of outdoor recreational activities, and improved access to biking trails and facilities. The fast-paced growth in this market segment highlights opportunities for bike manufacturers, retailers, and related businesses to capitalize on the emerging trend and expand their operations in Latin America to cater to the growing demand for mountain bikes.
About 30% of mountain bike participants in the US are females.
The statistic stating that about 30% of mountain bike participants in the US are females indicates the proportion of female individuals engaging in this specific recreational activity compared to males. This statistic highlights a gender disparity in the sport, with a significantly larger representation of males relative to females. Understanding these demographics in participation is important for identifying potential barriers or factors influencing gender diversity in mountain biking, as well as for creating targeted initiatives to promote inclusivity and increase female representation in the sport. Additionally, this statistic can inform marketing strategies, event planning, and resource allocation within the mountain biking industry to cater to a more diverse participant base and encourage greater gender equality in the activity.
The number of mountain bikers in Germany rose by about 800,000 to a total of 3.3 million in 2020.
The statistic indicates that the number of mountain bikers in Germany increased by approximately 800,000 individuals in 2020, reaching a total of 3.3 million. This significant rise suggests a growing popularity and interest in mountain biking as a recreational activity in the country. Factors contributing to this increase may include a heightened focus on outdoor and fitness activities, improved accessibility to biking trails, and possibly, the impact of the COVID-19 pandemic which encouraged people to engage in outdoor pursuits. The growth in the number of mountain bikers also presents opportunities for the biking industry, tourism sector, and related businesses to cater to the needs and demands of this expanding market.
The conventional mountain bikes segment held a larger share of 64.0% in 2019.
The statistic indicates that in 2019, the conventional mountain bikes segment held a dominant position in the overall market, accounting for 64.0% of the market share. This suggests that traditional mountain bikes, characterized by their durable frame, suspension systems, and wide tires, were the preferred choice among consumers compared to other types of mountain bikes such as electric or hybrid models. The high market share held by conventional mountain bikes reflects their enduring popularity and indicates strong consumer demand for these tried-and-tested models in the biking industry.
The full suspension mountain bikes segment is expected to register the fastest CAGR of 10.5% from 2020 to 2027.
This statistic indicates that the full suspension mountain bikes segment is projected to experience the highest Compound Annual Growth Rate (CAGR) of 10.5% between the years 2020 and 2027. A CAGR of 10.5% implies that the market for full suspension mountain bikes is forecasted to expand at an average annual rate of 10.5% over this time period. This growth rate suggests increasing demand and interest in full suspension mountain bikes among consumers, likely driven by factors such as technological advancements, changing consumer preferences, and growing participation in mountain biking activities.
References
0. – https://www.www.globenewswire.com
1. – https://www.www.npd.com
2. – https://www.www.alliedmarketresearch.com
3. – https://www.www.grandviewresearch.com
4. – https://www.www.statista.com
5. – https://www.flowmountainbike.com
6. – https://www.www.bikeboard.at
7. – https://www.www.cyclingweekly.com
