The cargo bike tire market value is projected to grow at 12.2% CAGR between 2021 and 2031 and market volume is expected to grow at a CAGR of 11.6% over the forecast period.
Cargo bike tire sales grew at a 9.7% CAGR from 2016 to 2020, with the Germany, Netherlands, U.K., U.S. and Italy accounting for a larger percentage of the global market.
Cargo bikes are proving to be versatile and economically viable vehicles for transporting consignments in urban areas. Unlike conventional delivery trucks cargo bikes neither cause pollution nor contribute to traffic congestion. They make roads cleaner and more secure for walkers and commuting cyclists. These factors are likely to steer the sales of cargo bike in the coming years.
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Buyers are progressively focusing on keeping their cargo bikes in proper shape, which has increased the aftermarket sales and fuelled the demand for replacement services. This has in turn created conducive prospects for sales in the cargo bike tire market.
The cargo bike tire market is boosted by the presence of various tire designs. Different tire designs like folding tires, tubeless tires, puncture safe tires, studded tires and delicate/hard rubber tires are often used for to offer maximum comfort and security will riding.
Increasing transportation in e-commerce is also a catalyst to the cargo bike tire market growth. In developed nations like Germany, France, U.S. and others, different methods of transportation for last mile e-commerce deliveries have been replaced by the conventional cargo bike and electric cargo bikes.
Organizations such as DHL use paddle cargo bicycles and electric cargo bicycles to ship load or baggage in strategic lines as these bicycles produce no unsafe gases and carry up to 125 kg. Therefore, the increasing cargo bikes will push sales in the cargo bike tire market at a CAGR of 12.2% between 2021 and 2031.
Key Takeaways from Market Study
- By product type, tubeless tire are anticipated to account for sales of more than 60% in the global market.
- Three wheeled cargo bikes held a market share of about 45% in terms of cargo bike type in the market.
- By region, Europe is projected to hold more than 65% of the global market.
- Tubeless tire is projected to be the fastest growing segment in terms of product type, exhibiting a CAGR of 12.7%
- The 26 inches tires segment is projected to account for 38% of the market based on tire size.
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Key Market Segments Covered
- Below 20”
Cargo Bike Type
- Four Wheeled
Scope of Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value and Units for Volume|
|Key Regions Covered||North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa|
|Key Countries Covered||US, Canada, Germany, U.K., France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Oceania, GCC Countries, Turkey, and South Africa|
|Key Segments Covered||Product Type, Tire Size, Cargo Bike Type, Sales Channel, and Region|
|Key Companies Profiled||
|Report Coverage||Market forecast, brand share analysis, competition intelligence, DROT analysis, market dynamics and challenges, strategic growth initiatives|
|Customization & Pricing|
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Cargo Bike Tire Market Competitive Landscape
The market has been described as slightly fragmented globally. Some of the leading market participants include Cheng Shin Rubber Ind., Goodyear Tire & Rubber Company, Ralf Bohle GmbH (Schwalbe), Trek Bicycle Corp., Hutchinson, Zhongce Rubber Group Company Limited, Michelin Group, Trelleborg Group, Continental AG, Kenda Tires, PT. Inustri Karet Deli, WTB, Vittoria S.p.A., Ralson Tyres, Metro Tyres, Mitas, Panaracer Corporation, HWA Fong Rubber Co., Ltd. (Duro Tires) and others.
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