The global Bicycle Tire Market had a value of approximately USD 6.19 billion in 2020, and it is projected to grow steadily at a Compound Annual Growth Rate (CAGR) of 5.80%, reaching approximately USD 9.68 billion by the year 2028. This market report covers various aspects of the bicycle tire industry such as size, share, demand, growth, gross profits, earnings, and revenue. The report analyzes data from 2016 and 2017 and considers 2018 as the base year to provide a comprehensive view of the sector's trends and predict its possible growth from 2020 to 2028.

A bicycle tire is a vital component that provides suspension, generates lateral and longitudinal forces, and facilitates balancing, turning, propulsion, and braking. Inactive lifestyles have resulted in an increase in disorders such as obesity and cardiovascular diseases. To combat these health concerns, individuals are focusing on leading a healthier lifestyle, and cycling is an easy and effective solution. This trend is driving the growth of the bicycle tire market globally. Additionally, consumers are focusing on maintaining their bikes' condition, which has increased the demand for replacement services and boosted the aftermarket, further benefiting the bicycle tire market. The growth is also contributed to by professional bicycle races such as the Tour de France and Olympics. Moreover, many countries are promoting cycling as an alternative means of daily commuting.

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Driving factors of Bicycle Tire Market

1. Increasing health concerns: The rise in health issues such as obesity and cardiovascular diseases due to inactive lifestyles has resulted in people shifting towards a healthier lifestyle. Cycling is an effective solution, driving the growth of the bicycle tire market.

2. Maintenance of bike condition: Consumers are focusing on keeping their bikes in top condition, leading to an increase in demand for replacement services and boosting the aftermarket, further benefiting the bicycle tire market.

3. Professional bicycle races: Events such as the Tour de France and Olympics are contributing towards the growth of the bicycle tire market.

4. Promoting cycling as an alternative means of daily commuting: Several countries are promoting cycling as a greener alternative to daily commutes, boosting the demand for bicycles and bicycle tires.

5. Advancements in tire technology: The continuous development of tubeless and puncture-resistant tires, and other such advancements in tire technology, will be the driving factors for the bicycle tire market in the coming years.

Some of the notable innovations in the Bicycle Tire Market

1. Tubeless tires: Tubeless tires are gaining popularity due to their improved performance, lower rolling resistance, and puncture protection. Continental introduced the tubeless Grand Prix 5000 road tire, which has 12% less rolling resistance, more durability, and a 20% boost in puncture protection compared to its previous model.

2. Airless/solid tires: Airless/solid tires are gaining traction due to their puncture-proof design, eliminating the need for tubes or air. Leading manufacturers such as Bridgestone have announced plans to roll out airless bicycle tires.

3. Puncture-resistant tires: Puncture-resistant tires are gaining popularity due to their improved durability and puncture resistance. These tires are designed with layers of materials such as Kevlar or Vectran to prevent punctures.

4. Smart tires: Smart tires are equipped with sensors that can monitor various aspects of tire performance, such as pressure, temperature, and tread wear. These tires can provide real-time data to the rider, improving safety and performance.

5. Sustainable tires: Sustainable tires are gaining popularity due to their eco-friendliness. These tires are made from sustainable materials such as natural rubber and recycled materials. Companies such as Vittoria are offering tires made from sustainable materials.

Key players in the global Bicycle Tire Market:

• Vittoria
• Continental AG
• Apollo Vredestein
• Maxxis
• Challenge Tires
• Hutchinson SA
• Freedom Bicycle
• Michelin
• Kenda Tires
• Schwalbe
• Suomi Tyres
• Panaracer Corporation
• Fyxation Bicycle Co.
• Cheng Shin Rubber
• Bridgestone
• Trek Bicycle Corporation