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United States bicycle tire replacement market was valued at US$ 727.2 Mn in 2022 and is projected to reach US$ 1,017.6 Mn by 2031 at a CAGR of 3.8% during the forecast period. In terms of volume, the market is estimated to grow a CAGR of 2.7% during the forecast period.
Bicycle tire replacement is indeed a common occurrence among cyclists in the United States. Our research shows that the average cyclist replaces their tires once every 1-2 years, depending on factors such as the type of tire, the riding conditions, and the amount of use. The study also reveals that there is a variety of bicycle tires available in the market, including road, mountain, and racing tires. Each type of tire has specific features that make them suitable for different riding conditions and preferences. Road tires, for example, are the most commonly used type of bicycle tire, designed for use on smooth roads, and offering low rolling resistance for faster speeds. Mountain tires, on the other hand, are designed for use on rugged terrain and offer better traction and durability.
The cost of bicycle tire replacement varies depending on several factors, including the type and quality of the tire, the retailer, and any associated labor costs. On average, the cost of a single bicycle tire ranges from $20 to $100, with some high-end tires costing upwards of $200. Labor costs for tire replacement, including tire mounting and balancing, can range from $10 to $30, depending on the retailer.
Cyclists in the US are willing to pay a premium for high-quality tires that offer superior traction, durability, and performance, especially for racing and off-road cycling. Our findings indicate that there is a growing demand for eco-friendly and sustainable tire options in the cycling community, with many cyclists willing to pay extra for tires made from recycled materials or other sustainable alternatives.
Increasing Popularity of Cycling
After conducting research on the U.S. bicycle tire replacement market, we have found that the increasing popularity of cycling is a significant driver of market growth. There are several factors contributing to this trend, including a growing focus on improving physical and mental health, concerns over climate change and air pollution, and the rise of cost-effective and sustainable transportation options.
Cycling is becoming an increasingly popular form of exercise in the United States, as more people recognize the physical and mental health benefits of regular activity. As a low-impact form of exercise, cycling can be easily incorporated into daily routines, and offers a fun and enjoyable way to stay active. This trend is expected to continue, with a growing number of people seeking alternative forms of exercise to traditional gym workouts.
With concerns over climate change and air pollution, many people are looking for more sustainable transportation options, and cycling is a zero-emissions mode of transportation that can help reduce an individual's carbon footprint. As a result, cycling is becoming a more popular choice for commuting and short trips, and is often more cost-effective than driving, especially when considering the costs of fuel, maintenance, and parking.
Additionally, the growth of bike-sharing programs in cities across the U.S. has created a need for replacement tires to keep the fleets of bicycles in good condition. This has driven demand for replacement tires, and has contributed to the growth of the bicycle tire replacement market.
As a result, there is a significant opportunity for businesses to capitalize on the growing popularity of cycling and the resulting demand for replacement tires. To do so, businesses should focus on offering high-quality tires that cater to the specific needs of different types of cyclists, such as road, mountain, and racing tires. Businesses can also benefit from offering sustainable and eco-friendly tire options, which are becoming increasingly important to environmentally conscious consumers.
Increasing Demand for High-Performance Tires
There is an opportunity for manufacturers and retailers to focus on the growing demand for high-performance bicycle tires. This trend is being driven by several factors, including the growing popularity of cycling as a sport and recreational activity, and the rise of smart technology and the Internet of Things.
With more people taking up cycling for sport and recreation, there is a growing demand for high-performance bicycle tires that offer improved speed, traction, and durability. This has led to innovation in tire design, with manufacturers developing new materials and technologies to meet the needs of this market. In addition, the growth of competitive cycling events, such as road races and mountain bike races, has driven demand for high-performance tires that can help athletes achieve their goals. This has led to the development of specialized tire designs for different types of cycling, such as road racing, time trials, and mountain biking.
Furthermore, with the rise of smart technology and the Internet of Things, consumers are increasingly interested in products that offer advanced features and functionality. This has driven demand for high-tech bicycle tires that offer features such as built-in sensors, smart tire pressure monitoring, and self-sealing puncture protection. These features offer increased safety, convenience, and peace of mind for cyclists, which is becoming increasingly important to today's consumers.
Our findings suggest that businesses can capitalize on the growing demand for high-performance bicycle tires by offering a range of specialized tire designs that cater to the specific needs of different types of cycling, and by investing in the development of new materials and technologies to stay competitive. Additionally, businesses can consider incorporating smart technology features into their tire designs to meet the growing demand for advanced functionality.
By Bicycle Type:
The U.S. Bicycle Tire Replacement Market is segmented by bicycle type into road, urban, gravel, mountain, racing, and youth. Among these segments, the road bicycle type is projected to have the highest potential opportunity, reaching US$ 54.3 Mn during 2023-2031. This is due to the popularity of road bikes, which are one of the most common types of bicycles among adult cyclists in the United States. However, frequent replacement of road bicycle tires is necessary due to high mileage and rough road conditions, resulting in a substantial share of the U.S. bicycle tire replacement market. Additionally, road bicycle tires remain in high demand, as the popularity of road bikes continues to increase in the United States.
By Tire Type:
The U.S. Bicycle Tire Replacement Market is segmented by tire type into clincher, tubeless, and tubular. Clincher tires held the highest share in 2022, due to their popularity among recreational and professional cyclists, ease of use, and availability in various sizes and tread patterns. However, tubeless tires are expected to grow at the highest CAGR during the forecast period, owing to their resistance to punctures, reduced risk of pinch flats, and improved riding experience.
By Tire Size
In terms of tire size, the market is segmented into below 24 inches, 24 inches, 26 inches, 27.5 inches, 29 inches, 650 b, 700 c, and others. The 26-inch tire size segment dominated the U.S. Bicycle Tire Replacement Market in 2022, favored by mountain bikers for its nimble handling and quick acceleration. Nevertheless, the popularity of larger wheel sizes such as 27.5-inch and 29-inch is increasing, as they offer improved traction, stability on rough terrain, and easier obstacle traversal.
By Distribution Channel
The market is further segmented by distribution channel, including online, big-box stores, specialty bicycle stores, recreational stores, equipment stores, and others. Recreational stores held the highest segmental share in 2022, as they carry a wider variety of bike tires, employ knowledgeable staff, and are conveniently located for consumers.
List of Key Companies Profiled:
By Bicycle Type
By Tire Type
By Tire Size
By Distribution Channel