LONDON--(BUSINESS WIRE)--The bicycle OEM tires market size is poised to grow at a CAGR of about 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Premium bicycles have gained immense popularity around the world as they provide a better riding experience and safety features. These premium bicycles are built using advanced technologies, modern designs and high-end materials to offer comfort and durability. Factors such as the increasing average disposable income are contributing to the rising demand for premium bicycles. All these factors are expected to drive the bicycle OEM tires market growth during the forecast period.
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As per Technavio, the emergence of eco-friendly bicycle tires will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Bicycle OEM Tires Market: Emergence of Eco-Friendly Bicycle Tires
Increasing air pollution is pushing manufacturers to reduce the emission resulting from the manufacturing process. Such environmental concerns have paved the way for innovation in terms of eco-friendly tires that are manufactured using pure rubber compounds and low-aromatic oils. The low-aromatic oils have lower levels of harmful compounds, which makes them non-carcinogenic. Thus, the emergence of eco-friendly bicycle tires will drive the growth of the bicycle OEM tires market during the forecast period.
“Other factors such as the development of hand-made premium bicycle tires, and the increasing popularity of non-pneumatic bicycle tire will have a significant impact on the growth of the bicycle OEM tires market value during the forecast period,” says a senior analyst at Technavio.
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Bicycle OEM Tires Market: Segmentation Analysis
This market research report segments the bicycle OEM tires market by application (manual bicycles and e-bikes) and geography (the Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by Americas and EMEA respectively. The growth in this region is attributed to the considerable growth potential for bicycle OEM tires in emerging economies including China, Japan, and Vietnam. An increasing number of consumers in these developing economies are opting for bicycles as a viable solution for environment conservation which, will lead the APAC region to contribute the highest growth in the market throughout the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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