Published by mark itwired
Posted on October 4, 2021
According to a new study by Future Market Insights (FMI), the global bicycle tire market is expected to be valued at ~US$ 6.4 Bn in 2021. Rising demand on environment-friendly modes of commuting is expected to help the market gain impetus in the coming years.
The electric vehicle (EV) revolution has dramatically altered the global automotive landscape. As environmental sustainability concerns mount, governments are calling for a swift transition towards alternative fuel sources to reduce carbon footprint. Hence, the market for electric vehicles is proliferating immensely. The 2020 Global EV Outlook published by the International Energy Agency (IEA) concluded that electric vehicle sales reached 2.1 million units in 2019, registering a 40% yearly increase.
This has spelt favorable conditions for the expansion of electric two-wheelers as well. Electric bikes are gaining momentum, providing tire manufacturers fertile ground for expansion. Furthermore, aggrandizing trends surrounding recreational biking is expected to stimulate cruiser bike sales, with Future Market Insights predicting its growth to be valued at 5% by 2021-end. Convenience is also becoming the need of the hour, with preference for foldable e-bikes acquiring major prominence.
Request The Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-3128
“Increasing concerns pertaining to traffic congestion and implementation of stringent carbon emission norms are creating lucrative opportunities for bicycle tire sales. Cycling-to-Work initiatives are gaining more traction than ever before. Various government programs encouraging the use of bicycle for commute is expected to push the global bicycle tire market growth” says FMI analyst.
Bicycle tire market is projected to be a fast growing market especially since sales are poised to surge considerably in the coming years. There is increasing focus on research and development activities within the market to customize design as per consumer preference. Also with leading manufacturers aiming at sustainability, FMI predicts positive outlook for the market between 2021 and 2031.
The bicycle tire market is highly competitive. Some of the key players in the market are Cheng Shin Rubber Ind Co., Ltd., The Goodyear Tire & Rubber Company, and Giant Bicycles among others. These players are expected to contribute prominent share in the global Bicycle Tire market, and have admired relationships with governments and bicycle manufacturing companies and other customers
Future Market Insights, in its new report, offers an unbiased analysis of the global bicycle tires market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the bicycle tires on the basis of bicycle type (mountain, hybrid, electric, comfort, youth, cruiser & road), product type (tube tire, tubeless tire & solid tire), tire size (up to 12 inch, 12-22 inch & above 22 inch) and sales channel (OEM & aftermarket) across six prominent regions.
Speak To Analyst about queries @ https://www.futuremarketinsights.com/ask-question/rep-gb-3128
China currently leads the global market for Bicycle tire. Sales in China will account for over one-third of the total demand throughout the forecast period.
Tire for electric bicycles is highly sought-after. The demand for tires for electric bicycles is expected to remain high in the near future, especially due to the rising interest of the world for safer and more sustainable ways of commute.
Tubeless tires are highly sought-after due to their impressive puncture and wear resistance. They are expected to remain the dominant product type within the bicycle tire market through the forecast period.
The post Future Market Insights Presents Bicycle Tires Market Growth Projections in a Revised Study Based on COVID-19 Impact appeared first on Market Research Blog.
According to a new study by Future Market Insights (FMI), the global bicycle tire market is expected to be valued at ~US$ 6.4 Bn in 2021. Rising demand on environment-friendly modes of commuting is expected to help the market gain impetus in the coming years.
The electric vehicle (EV) revolution has dramatically altered the global automotive landscape. As environmental sustainability concerns mount, governments are calling for a swift transition towards alternative fuel sources to reduce carbon footprint. Hence, the market for electric vehicles is proliferating immensely. The 2020 Global EV Outlook published by the International Energy Agency (IEA) concluded that electric vehicle sales reached 2.1 million units in 2019, registering a 40% yearly increase.
This has spelt favorable conditions for the expansion of electric two-wheelers as well. Electric bikes are gaining momentum, providing tire manufacturers fertile ground for expansion. Furthermore, aggrandizing trends surrounding recreational biking is expected to stimulate cruiser bike sales, with Future Market Insights predicting its growth to be valued at 5% by 2021-end. Convenience is also becoming the need of the hour, with preference for foldable e-bikes acquiring major prominence.
Request The Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-3128
“Increasing concerns pertaining to traffic congestion and implementation of stringent carbon emission norms are creating lucrative opportunities for bicycle tire sales. Cycling-to-Work initiatives are gaining more traction than ever before. Various government programs encouraging the use of bicycle for commute is expected to push the global bicycle tire market growth” says FMI analyst.
Bicycle tire market is projected to be a fast growing market especially since sales are poised to surge considerably in the coming years. There is increasing focus on research and development activities within the market to customize design as per consumer preference. Also with leading manufacturers aiming at sustainability, FMI predicts positive outlook for the market between 2021 and 2031.
The bicycle tire market is highly competitive. Some of the key players in the market are Cheng Shin Rubber Ind Co., Ltd., The Goodyear Tire & Rubber Company, and Giant Bicycles among others. These players are expected to contribute prominent share in the global Bicycle Tire market, and have admired relationships with governments and bicycle manufacturing companies and other customers
Future Market Insights, in its new report, offers an unbiased analysis of the global bicycle tires market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the bicycle tires on the basis of bicycle type (mountain, hybrid, electric, comfort, youth, cruiser & road), product type (tube tire, tubeless tire & solid tire), tire size (up to 12 inch, 12-22 inch & above 22 inch) and sales channel (OEM & aftermarket) across six prominent regions.
Speak To Analyst about queries @ https://www.futuremarketinsights.com/ask-question/rep-gb-3128
China currently leads the global market for Bicycle tire. Sales in China will account for over one-third of the total demand throughout the forecast period.
Tire for electric bicycles is highly sought-after. The demand for tires for electric bicycles is expected to remain high in the near future, especially due to the rising interest of the world for safer and more sustainable ways of commute.
Tubeless tires are highly sought-after due to their impressive puncture and wear resistance. They are expected to remain the dominant product type within the bicycle tire market through the forecast period.
The post Future Market Insights Presents Bicycle Tires Market Growth Projections in a Revised Study Based on COVID-19 Impact appeared first on Market Research Blog.
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