LONDON--(BUSINESS WIRE)--The bicycle OEM tires market is expected to grow by USD 544.86 million during 2020-2024, 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 significant trends and market drivers that will influence market growth over 2020-2024.
Bicycle OEM Tires Market : Emergence of Eco-friendly Bicycle Tires
Increasing air pollution is pushing manufacturers to reduce the emissions 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.
“Factors such as the development of hand-made premium bicycle tires, and the increasing popularity of non-pneumatic bicycle tire will have a positive 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 bicycle and e-Bikes), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the bicycle OEM tires market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the large population, increased use of bicycles as a sustainable mode of transportation, and the rise in the number of government initiatives.
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Some of the key topics covered in the report include:
- Manual bicycle
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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