The global sale of bicycle tires is estimated to be worth USD 10,158.3 million in 2024 and is anticipated to reach a value of USD 23,509.1 million by 2034. Sales are projected to rise at a CAGR of 8.8% over the forecast period between 2024 and 2034. The revenue generated by bicycle tires in 2023 was USD 9,423.1 million. The industry is predicted to exhibit a Y-o-Y growth of 7.8% in 2024.
The global bicycle market has witnessed significant growth in recent years, because of health consciousness, clamor for urban mobility solutions, and most importantly environmental concerns. It has become a most suitable mode of transportation because local authorities and governments are promoting cycling-friendly infrastructure and policies to reduce carbon emissions and traffic congestion. People are focused on using bicycles to surpass the traffic. The demand for electric bicycles has increased owing to their convenience, speed, and ease of use.
The market faces challenges in terms of constantly fluctuating raw material prices. Though there are hurdles, it is expected that the bicycle tire market will have steady growth. Cycling is not only used for keeping oneself fit but it is used as a means of recreation. This trend has increased demand for different types of bicycles, as per the terrain or landscape. The development of high-quality gears and lightweight materials is fueling innovations in bicycle design and functionality, making cycling more accessible and enjoyable.
| Attributes | Key Insights |
|---|---|
| Estimated Value (2024) | USD 10,158.3 million |
| Projected Size (2034) | USD 23,509.1 million |
| Value-based CAGR (2024 to 2034) | 8.8% |
Road bicycles dominate the bicycle type segment because they are ideal for commuting, fitness, and competitive cycling. They are mainly designed with carbon fiber or aluminum material, which enhances agility and speed. Their lightweight frame combined with smooth gears ensures that more of the rider’s pedaling energy is translated into forward motion, resulting in a faster and more efficient ride.
Tubeless tire dominates the tube type segment. Tubeless tires can be run at lower air pressures without affecting traction and speed, or uneven landscape. This is important for gravel riders and mountain bikers who need extra grip and stability. Lower pressure also translates to a smoother, more comfortable ride as the tire can absorb more of the surface bumps.
OEM dominates the sales channel. OEM tires are designed to fit the manufacturer’s bike models, ensuring optimal performance and safety. These tires undergo rigorous testing for durability and traction, enhancing the riding experience. OEM tires also typically feature advanced materials and technologies that improve grip and reduce rolling resistance.
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The annual growth rates of the bicycle tire market from 2024 to 2034 are illustrated below in the table. Starting with the base year 2023 and going up to the present year 2024, the report examined how the industry growth trajectory changes from the first half of the year, i.e. January through June (H1) to the second half consisting of July through December (H2).
This gives stakeholders a comprehensive picture of the sector’s performance over time and insights into potential future developments. For the H1 in 2023 to 2033, the CAGR is estimated to be 8.4% in the first half and then increase substantially to 9.1% in H2.
| Particular | Value CAGR |
|---|---|
| H1 2023 | 8.4% (2023 to 2033) |
| H2 2023 | 8.9% (2023 to 2033) |
| H1 2024 | 9.1% (2024 to 2034) |
| H2 2024 | 8.5% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected as 9.1% in the first half and grow to 8.5% in the second half. In the first half (H1) and second half (H2), the market is inclined to witness an increase of 10 BPS each.
Growing Popularity of Cycling as a Recreational and Fitness Activity Boosts Demand for High-Quality Bicycle Tire
Cycling provides cardiovascular benefits and helps in maintaining physical fitness. Cycling helps in improving heart health, and muscle strength and makes the body physically fit. This helps in having a positive mental state, and in smoothly carrying out the day-to-day activity.
Cycling is both an individual and group activity, which is liked by those who enjoy the social aspects of fitness. Cycling events, cycling clubs, and group rides have grown in popularity, fostering camaraderie among cyclists. The manufacturers are manufacturing high-quality tires, which provide high speed and can be used in all terrains.
Development of New Generation Compounds
Rubbers can be either mono-compound or bi-compound. Different rubbers give different characteristics to tires. There is the continuous development of a new generation of rubber compounds to have good rolling resistance. New rubber compounds are being engineered or used to improve the life of bicycle tires by wear and tear because of frequent movements.
This leads to an increase in the lifespan of the tire, reducing replacement frequency, and making it appealing to both consumers and manufacturers. New rubber materials improve traction on different terrains. Specialized compounds ensure that the tires grip the road surface effectively, reducing the likelihood of slipping and improving overall rider safety.
Public Awareness Campaigns, Government Policies, and Tire Manufacturing Regulations Help in Reducing Carbon Footprint
Governments are investing in dedicated cycling lanes, which encourage people to use bicycles, thus increasing bicycle tire demand. Many governments provide financial incentives or subsidies for purchasing bicycles, including e-bikes, which boosts bicycle and tire sales.
Public awareness campaigns promoting cycling as a healthy, eco-friendly transportation option lead to increased bicycle usage and the need for the replacement of tires. Governments are implementing policies to reduce carbon emissions by promoting sustainable transportation, including bicycles, which increases tire demand as cycling becomes more common.
Increase in Urbanization and Traffic Congestion Are Resulting in the Rise in Adoption of High Grip and Speed Bicycle Tire
As urban areas become more populated, traffic congestion is worsening. This makes bicycles an attractive alternative for short-distance commuting, increasing the demand for bicycle tires. Urbanization leads to a greater focus on mobility solutions, like bicycles and e-bikes for navigating congested city streets, driving the demand for durable high-performance tires.
Bicycles provide a faster and more efficient means of transportation in cities with heavy traffic, leading to more frequent use and replacements of bicycle tires due to wear and tear. In densely populated cities, limited parking space and high vehicle maintenance cost makes bicycles a more practical and cost-effective option, thus fueling the demand for bicycle tires.
Fluctuating Raw Material Cost Restricts Market Growth
Higher prices for essential raw materials like rubber, steel, and aluminum directly increases the cost of manufacturing bicycles. This forces manufacturers to absorb the extra cost, reducing profit margins. The high cost of raw materials is often because of the disruption in the supply chain, making material harder to source.
Delays in obtaining materials slows down production, resulting in inadequate inventories of raw materials, and later even affect the growth of sales, especially during peak demand periods. As the prices of materials increase, it becomes expensive for small or new brands to gain a competitive advantage.
Principal Consultant
The bicycle tire market recorded a CAGR of 3.8% during the period between 2019 and 2023. The growth of the industry was positive as it reached a value of USD 9,423.1 million in 2023 from USD 8,126.1 million in 2019.
The global bicycle tire market saw a shift in preference largely because of the pandemic and its ripple effects in the automotive industry. Disrupted supply chains, reduced volumes of vehicle production, and automotive sales significantly impacted the bicycle tire market.
Since people were conscious about their health there was a rise in bicycle purchases, which significantly resulted in demand for good quality bicycle tires. As consumer awareness regarding air quality increased, particularly due to heightened concerns over airborne health risks, the adoption of sustainable bicycle tires gained momentum. By 2021, the market began to recover as vehicle production resumed, with growing demand for enhanced bicycle tires in developed regions, especially Europe.
After the pandemic, the demand for bicycle tires rose significantly, because of stringent government regulations and policies. Stringent regulations related to air quality standards and growing consumer awareness about pollutants are expected to drive adoption in the next decade. The rising penetration of electric vehicles is expected to further boost demand.
Technological advancements in sensor accuracy, integration with climate control systems, and smart sensor solutions capable of real-time monitoring are expected to be critical to market growth. Manufacturers are expected to innovate with compact, energy-efficient sensors to meet the evolving needs of both electric and traditional bicycles over the forecast period.
Tier 1 players are characterized by high production capacity and a wide product portfolio. These leaders are distinguished by their extensive expertise in manufacturing and reconditioning across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base.
Prominent companies within Tier 1 include Continental AG, Pirelli Tyre S.p.A., Michelin, and other players. Tier 2 companies include mid-size players that have a presence in specific regions and which highly influence the local industry. Prominent companies in Tier 2 include Camel Industries Co., Ltd., Inoue Rubber Co., Inc., Zhongce Rubber Group Company, and other players.
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The section below covers the industry analysis for bicycle tire demand in different countries. Demand analysis is done for key countries in several regions of the globe, including North America, Latin America, East Asia, South Asia Pacific, Western Europe, Eastern Europe, and the Middle East and Africa.
China holds 59% of the bicycle tire market in East Asia due to its growing EV sector and strict air quality rules. The United States captures 58.4% of the share in North America thanks to advanced tech and high demand for luxury vehicles. Germany leads Western Europe with a 20.6% share due to innovation and strong regulations.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| Brazil | 9.2% |
| India | 7.6% |
| The USA | 7.7% |
| Germany | 5.5% |
| China | 7.2% |
The bicycle tire market in China is projected to reach USD 1,598.3 million by 2034 and is estimated to grow at a 7.3% CAGR to that date. The pandemic resulted in a rise in interest in outdoor activities like cycling. Innovations in tire technology, puncture protection, and high grip, have also attracted consumers.
Mainly the popularity of e-bikes has created hype and resulted in a rise in enhanced demand and production. Thus cycling's integration into urban mobility and fitness routines is driving the ongoing demand for high-quality bicycle tires.
Sales in the United States are projected to reach USD 2,454.3 million by 2034. Over the forecast period, demand for bicycle tires in the United States is predicted to grow at 7.8% CAGR.
Campaigns and initiatives are helping to provide awareness about the impact on the environment, that have led individuals to adopt greener lifestyles in the United States. This growing demand reflects a broader cultural shift towards sustainability and a commitment to protecting the environment in the country.
The sale of bicycle tires in Germany is projected to reach USD 56,290 million by 2034 and grow at a CAGR of 6.4% for the next decade. Germany’s bicycle industry is also adopting air quality sensors at a growing rate, thanks to strict environmental regulations and technological progress.
Recent European Union regulations are pushing manufacturers to improve their production of bicycle tires. The companies are focused on sustainability and the inclusion of sensors in its new models are further examples of Germany’s commitment to clean technology. These developments highlight Germany’s role in leading the way toward better air quality in vehicles through innovation.
Based on the tire type, the tubeless tire segment is projected to hold a major share of 46.5% in 2024, while based on bicycle type, road bicycle is expected to lead with 22.9%. The analysis would enable potential clients to make effective business decisions for investment purposes.
| Segment | Road Bicycle (Bicycle Type) |
|---|---|
| Value Share (2024) | 22.9% |
Road bicycles dominate the bicycle type segment as bicycle lanes and in general, roads friendly for bicycling are becoming more common all over the world. They are mainly designed with the help of materials like carbon fiber or aluminum, which enhances speed and agility. Their lightweight frame combined with smooth gears ensures that more of the rider’s pedaling energy is translated into forward motion, resulting in a faster and more efficient ride.
| Segment | Tubeless Tire (Tire Type) |
|---|---|
| Value Share (2024) | 46.5% |
Tubeless tire dominates the tube type segment. Tubeless tires can be run at lower air pressures without affecting traction and speed. It is important for gravel riders and mountain bikers who need extra grip and stability. Lower pressure also translates to a smoother, more comfortable ride as the tire can absorb more of the surface bumps.
Customer satisfaction remains a key focus, with producers keen on tailoring machines to meet diverse automotive industry needs. These industry leaders actively foster collaborations to stay at the forefront of innovation, ensuring their automotive cabin air quality sensors align with the evolving demands and maintain the highest standards of quality and adaptability.
Recent Industry Developments
The bicycle type segment is categorized into Mountain, Hybrid, Electric, Comfort, Youth, Cruiser, and Road.
The tire type segment is classified into Tube Tire (Up to 12 inch, 12-22 inch and above 22 inch), Tubeless tire (Up to 12 inch, 12-22 inch and above 22 inch), and Solid Tire (Up to 12 inch, 12-22 inch and above 22 inch).
The sales channel segment is categorized into OEM and Aftermarket.
Regions considered in the study include North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East and Africa.
The bicycle tire market was valued at USD 9,423.1 million in 2023.
The demand for bicycle tires is set to reach USD 10,158.3 million in 2024.
The bicycle tire demand is projected to reach USD 23,509.1 million by 2034.
Road Bicycle are expected to lead during the forecast period.
Continental AG and Pirelli Tyre S.p.A. are two key players.
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Bicycle Tire Market
