Market Overview:
A bicycle tire is defined as a tire that fits on the wheel of a bicycle or similar kind of vehicle. That can also be used on wheelchairs and handcycles, especially for the racing. Bicycle tires basically provide an important source of the suspension, generate lateral forces which is necessary for balancing and turning, and generate the longitudinal forces for propulsion and braking. The market of the bicycle tires is growing due to the rapid advancements in bicycle technology with the addition of tubeless tires. while some of the factors like substitutes availability is hampering the overall market.
Influencing Trend:
Emergence of Tubeless Tire has Reduced Maintenance Cost
Market Growth Drivers:
Rising Growth Owing to the Growing Culture of Racing and Short Camps and Increasing Investments by Manufacturers on Smart Tires
Challenges:
Changing Consumer Preferences and Availability of Substitutes
The key Vendors profiled in the report are Michelin (France), Continental Ag (Germany), Vittoria S.p.A. (Italy), Kenda Tires (Taiwan), Maxxis International (United States), Schwalbe Tires North America, Inc (United States), Suomen Rengastehdas Oy (Finland), Ralson Tyres (India), Zhongce Rubber Group Company Limited (China) and Hwa Fong Rubber Ind. Co., Ltd (Taiwan).