Dublin, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The "Global Carbon Fiber Bike Market by Type (Mountain Bikes, Road Bikes), Application (Bicycle Racing, Bicycle Touring) - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Carbon Fiber Bike Market grew from USD 3.24 billion in 2023 to USD 3.49 billion in 2024. It is expected to continue growing at a CAGR of 7.69%, reaching USD 5.45 billion by 2030.
The scope of this market extends from individuals seeking performance-oriented bikes for competitive racing to those desiring a lightweight and durable bicycle for daily use. Enhancements in design and technology cater to a broad spectrum of riding styles and disciplines, contributing to market expansion. A growing emphasis on health and fitness activities has bolstered the demand for bicycles as exercise, directly boosting the carbon fiber bike market.
However, the premium price of carbon fiber bikes compared to their aluminum and steel counterparts is prohibitive for the average consumer. Additionally, the manufacturing process for carbon fiber frames is labor-intensive and complex, leading to supply constraints. Moreover, custom-built carbon fiber bikes tailored to individual preferences have boosted market growth by addressing a niche segment willing to pay a premium price. Collaborating with cycling events and sponsorships has also elevated brand visibility and catalyzed growth.
Regional Insights
The carbon fiber bike market is experiencing dynamic shifts across various regions, reflecting diverse consumer needs and purchasing behaviors. This comprehensive geographic overview provides insights into the Americas, Asia Pacific, and EMEA regions, highlighting the latest patents, research, investments, and initiatives that shape the carbon fiber bike industry. The American carbon fiber bike market is characterized by a strong presence of established cycling communities and a surge in demand for high-performance bicycles.
The United States leads the market, where cycling is not only a popular recreational activity but also increasingly seen as a viable mode of transport in urban areas. Moreover, initiatives to promote healthy lifestyles and environmental awareness drive the adoption of carbon fiber bikes across North and South America. Brazil and Canada show significant market engagement, with a notable increase in government investments in cycling infrastructure.
Europe holds a significant position in the global carbon fiber bike market within the EMEA region, bolstered by a rich cycling culture and favorable government policies. Countries such as the Netherlands, France, Italy, and Germany have a substantial market share owing to high consumer awareness and the popularity of cycling sports. Additionally, the Middle East and Africa exhibit potential growth, driven by growing infrastructure development and the luxury segment in the Gulf countries, and an emerging enthusiast community across select African nations. The carbon fiber bike market is rapidly expanding in the APAC region, with China, Japan, and Australia at the forefront.
This growth is attributable to increased disposable incomes, urbanization, and the fostering of sports and outdoor activities. China, in particular, has a significant influence due to its status as a major producer of carbon fiber and related composites, tapping into economies of scale. Furthermore, the region is witnessing a trend towards eco-friendly transportation and fitness, propelling carbon fiber bike sales.
Recent Developments
Colored carbon fiber composite bike wheels launched at The Cycle Show
Revel Bikes introduced an innovative step forward in cycling technology, premiering the world's pioneering downhill mountain bike with a 3D-printed carbon fiber construction. This advancement marks a significant departure from traditional manufacturing techniques, heralding a potential new era for the industry. Additionally, it aligns with the cycling industry's increasing focus on sustainability, providing an additional advantage beyond the cutting-edge manufacturing process.
Fujitsu and Teijin start joint trials with V Frames and Advanced Bikes to enhance environmental value of recycled carbon fiber used in the manufacturing process of bicycle frames
Fujitsu Limited and Teijin Limited have partnered to pioneer a project to amplify the environmental benefits of using recycled resources in bicycle frame production. Working in concert with V Frames GmbH, a reputable German purveyor of carbon fiber reinforced plastic bike frames, and E-Bike Advanced Technologies GmbH, known for their cutting-edge bicycle manufacturing, this collaboration represents a significant stride toward eco-friendly practices. Central to this endeavor is the adoption of a blockchain-powered commercial platform that enhances the traceability and management of recycled materials and monitors greenhouse gas emissions throughout the production cycle, ensuring an end-to-end, environmentally responsible approach to creating these high-performance bicycles.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $3.49 Billion |
| Forecasted Market Value (USD) by 2030 | $5.45 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Market Dynamics
Market Segmentation Analysis
- Type: Rising demand of carbon fiber based mountain bikes to handle rough terrains and obstacles
- Application: Demand of carbon fiber bike across racing application
Market Drivers
- Rising Adoption for the Carbon Fiber Bike for Racing Purpose
- Increasing Awareness about Fitness over Sports Cycles
- Initiative and Social Campaigns by Various Governments Towards Fitness
Market Restraints
- High Cost of Carbon Fiber Bike
Market Opportunities
- Growing Bicycle Manufacturing Industry and Bicycle Components
- Increase in Tourism and Social Campaign
Market Challenges
- Repairs on Composites can be Difficult and Costly
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- Alchemy Bikes
- BMC Switzerland AG
- Canyon Bicycles USA, Inc.
- Colnago Erneso E C. Srl
- Cube Bikes
- DAHON North America, Inc.
- De Rosa Ugo & Figli Srl
- Ellsworth Bikes
- Giant Manufacturing Co. Ltd.
- ICAN Cycling
- Kestrel Bicycles
- KROSS S.A.
- LOOK Cycle International SAS
- Merida Industry Co., Ltd.
- PIERER Mobility AG
- Rinasclta Bicycle Components
- Santa Cruz Bicycles, Inc.
- Storck Bicycle GmbH
- SwiftCarbon
- Tianjin Fuji-ta Group Co., Ltd.
- Toray Industries, Inc.
- Trek Bicycle Corporation
- Tyrell Bike
- XDS Bikes
Market Segmentation & Coverage
Type
- Mountain Bikes
- Road Bikes
Application
- Bicycle Racing
- Bicycle Touring
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/kufbq4
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