Bicycle OEM Tires Market Size to Grow by $ 1.20 bn through 2021-2025
Technavio research projects the bicycle OEM tires market to grow by $ 1.20 bn, accelerating at a CAGR of over 6.09% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Bicycle OEM Tires Market: Key Market Driver
One of the primary factors that will trigger the growth of the bicycle OEM tires market size is the increasing demand for premium bicycles. APAC has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. The growth in the bicycle market due to rising urbanization and increasing fuel prices has been identified as one of the chief factors that will drive the bicycle OEM tires market growth in APAC during the forecast period. The bicycle OEM tires market share growth by the manual bicycle segment has been significant and is expected to provide significant growth opportunities to market vendors.
This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Bicycle OEM Tires Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Cheng Shin Rubber Ind. Co. Ltd., Continental AG, Derby Cycle Holding GmbH, Dorel Industries Inc., Kenda Rubber Industrial Co. Ltd., Merida Industry Co. Ltd., Michelin Group, Schwalbe Tires North America Inc., THE GOODYEAR TIRE and RUBBER Co., and Trek Bicycle Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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