MOUNTAIN BIKE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

One of the key challenges faced by the global mountain bike market is the high initial investment required to purchase a quality mountain bike. Mountain bikes designed for off-road trails and rough terrains are built with high quality durable frames and components to withstand rugged use. This makes the production of mountain bikes a capital-intensive process. As a result, most reputed mountain bike brands price their premium full suspension bikes between US$3000 and US$6000. This high entry cost prevents casual riders and bike enthusiasts with a limited budget from experiencing the thrill of mountain biking. Additionally, frequent replacement and repairs of worn-out components like shocks, gears and brakes further add to the ownership cost over the years. Unless financing or rental options are made available, the niche audience of professional mountain bikers alone may not be enough to drive higher sales volumes for manufacturers.

Market Opportunities: Growing Demand for Electric Mountain Bikes (eMTBs)

One major opportunity for the global mountain bike market is the growing popularity and demand for electric mountain bikes. eMTBs address one of the key barriers to mass adoption which is the strenuous physical effort and fitness required for mountain biking on steep terrains. With pedal assist powered by a rechargeable battery and electric motor, eMTBs enable riders of varying fitness levels to traverse more difficult trails with less exertion. This has led to a massive surge in their sales across North America and Europe in recent years. In fact, the eMTB segment is projected to become the fastest growing category within the overall mountain bike industry. Their increasing use both for recreational riding as well as urban commuting indicates huge future potential. Manufacturers are investing heavily in eMTB innovation to cater to this untapped demand base seeking an electric alternative to traditional mountain bikes.