New Delhi, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The us bicycle tire replacement market is expected to grow steadily over the forecast period, primarily due to the increasing popularity of cycling as a leisure activity and an eco-friendly means of transportation. Factors such as the rising trend of bike-sharing programs in urban cities, improving safety laws, increasing environmental awareness, rising disposable income levels, and government initiatives to promote bicycle transportation are driving the growth of this market. Moreover, the introduction of advanced technologies like tubeless tires, intelligent tires, and airless tires is expected to propel the market growth further.

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The retail stores dominate the tire replacement market, followed by aftermarket and OEM tire replacements. The OEM segment is expected to witness significant growth in the near future owing to the increasing awareness about electric bikes, rising urbanization, and the launch of new products by major players in the market. Moreover, the growing availability of OEM spare parts and a focus on developing green solutions are expected to drive the OEM sector.

The US bicycle tire replacement market is set to experience robust growth over the forecast period, driven by factors such as the increasing popularity of cycling, bike-sharing programs, improved safety laws, rising disposable income levels, and government initiatives to promote bicycle transportation. Furthermore, the introduction of advanced technologies such as tubeless tires, intelligent tires, and airless tires is expected to bolster the market growth. It is worth noting that players in this industry should focus on the development of eco-friendly solutions to cater to the increasing demand for green transportation solutions.

Top Trends in the US Bicycle Tire Replacement Market

• Increasing demand for tubeless tires: Tubeless tires have gained popularity in the US due to their ability to reduce the risk of punctures and provide a smoother ride. As a result, the demand for tubeless tires is expected to continue to grow in the US market.
• Growing popularity of e-bikes: The market for e-bikes is growing in the US, and this is expected to drive the demand for bicycle tire replacements. E-bikes require specialized tires due to their higher weight and power output, and this presents an opportunity for manufacturers to develop specialized tires for this segment.
• Shift towards larger wheel sizes: While 26-inch tires have been popular among mountain bikers for years, larger wheel sizes such as 27.5-inch and 29-inch are becoming more common. This is because larger wheels can provide improved traction and stability on rough terrain and can roll over obstacles more easily than smaller wheels.
• Introduction of advanced tire technologies: Advanced tire technologies such as intelligent tires and airless tires are being introduced in US bicycle tire replacement market market. Intelligent tires have sensors that can monitor tire pressure and provide alerts to the rider, while airless tires are puncture-proof and require less maintenance.
• Rising popularity of bike-sharing programs: Bike-sharing programs are gaining popularity in urban areas, and this is driving the demand for bicycle tire replacements. As more people use shared bikes, the wear and tear on tires increase, leading to a higher demand for replacements.
• Increasing focus on sustainability: The demand for sustainable and eco-friendly products is growing in the US, and this is also reflected in the bicycle tire replacement market. Consumers are increasingly looking for products that are made from sustainable materials and have a low impact on the environment. As a result, manufacturers are developing tires made from eco-friendly materials such as recycled rubber and natural fibers.

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Demand for Tubeless Tires to Grow at the Fastest CAGR of 3.4% in the US Bicycle Tire Replacement Market

Recent market studies suggest that the demand for tubeless bicycle tires is experiencing the fastest compound annual growth rate (CAGR) of 3.4% in the US. Tubeless bicycle tires are gaining popularity due to their several advantages such as a lower risk of flats and punctures, increased stability, and improved rolling resistance.

This growth in demand is attributed to the rising number of professional and amateur cyclists who are looking for high-performance and durable tire options. In addition, the growing trend towards using bicycles for commuting and as a mode of transportation is also driving demand for tubeless bicycle tires, as they provide a more comfortable and efficient ride.

Furthermore, manufacturers and retailers are focusing on producing and promoting tubeless bicycle tires due to their increasing popularity, and the potential to increase revenue by catering to this growing market. While tubeless tires are generally more expensive than traditional clincher tires, the higher cost is offset by their extended lifespan and lower risk of punctures.

Sales of Mountain Bicycle Tire Replacement in US Bicycle Tire Replacement Market to Surpass 20 Million Units by 2031

The mountain bicycle tire replacement market in the US is expected to experience significant growth, with sales predicted to surpass 20 million units by 2031. This is attributed to the increasing popularity of mountain biking as a recreational and competitive sport, as well as the rising number of people using bicycles for transportation. In order to meet this demand, manufacturers will need to invest in research and development to create high-quality tires that can endure the rigorous demands of mountain biking. This will require investment in new technologies, materials, and processes that can improve the performance and durability of bicycle tires. Additionally, manufacturers may need to consider expanding their production capacity to meet the increasing demand for bicycle tires.

The demand for high-quality, durable, and performance-focused mountain bike tires in the US bicycle tire replacement market is expected to increase, creating opportunities for manufacturers and retailers to expand their product lines and capitalize on this trend. In addition, technological advancements and innovations in the production of mountain bike tires will likely drive growth by enhancing product performance and durability.

However, businesses operating in this market are likely to face challenges such as price volatility, raw material cost impact on tire pricing, and competition. To remain competitive, businesses must remain focused on delivering quality products that meet customer expectations while also being mindful of their pricing strategy.

Despite these challenges, US bicycle tire replacement market trends such as the growing preference for e-bikes and tubeless tires are expected to provide new opportunities for growth and innovation. Businesses that can leverage these trends and offer innovative solutions to meet evolving customer needs will likely be well-positioned to succeed in the dynamic and competitive mountain bicycle tire replacement market in the US.

Top 5 Players Generate Over 45% Revenue of the US Bicycle Tire Replacement Market

The US bicycle tire replacement market is highly competitive, with a variety of brands and tire types available at varying prices. Astute Analytica's analysis of this industry provides an overview of the major players, their market share, product offerings, and pricing strategies.

The top five players in the US bicycle tire replacement market are Continental, Michelin, the Good Year Tire and Company, Giant Bicycle, and CST Tires, which together account for over 45% of the market share. These companies offer a range of products, including road bike, mountain bike, and commuter/city bike tires. Prices for these products vary widely depending on the brand and tire type.

Continental is the market leader with the highest share. They offer a wide range of products across all categories and focus on providing value for money products that perform well without being too expensive.

Michelin is the second largest player with a 30% share. They specialize in high-performance road and mountain bike tires at a premium price point, focusing on quality and performance rather than affordability.

Goodyear is another major player in the US tire market, which includes bicycle tire replacement. Goodyear offers a range of tires for different types of bicycles, including road bikes, mountain bikes, and e-bikes, as part of its focus on sustainable transportation solutions. Its 'Silica Rain' technology is designed to improve wet-weather grip and durability. In 2020, the company partnered with Pure Cycles to launch a line of commuter bikes, showcasing its bicycle tires, and including a joint marketing campaign. While Continental and Michelin dominate the US bicycle tire replacement market, Goodyear's sustainability focus and efforts to expand its presence make it a company worth watching.

Some of the Top Market Players Are:

• Vittoria
• CONTINENTAL AG
• KENDA TIRES
• Maxxis International
• MICHELIN
• Hutchinson
• WILDERNESS TRAIL BIKES (WTB)
• FUPERIA LTD
• THE GOODYEAR TIRE & RUBBER COMPANY
• DONNELLY CYCLING
• Panaracer Corporation
• Specialized Bicycle Components, Inc.
• CST Tires (Cheng Shin Ind. Co. Ltd.)
• Schwalbe tires
• Pirelli & C. S.p.A.
• Other Prominent Players

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