With more and more cross-country competitions around the world, the market outlook for mountain bikes looks very optimistic. Adventure tourism is the fastest growing tourism industry in the world, and some countries are focusing on developing new mountain biking strategies aimed at promoting economic development. Countries with great potential for bike lanes especially hope that ambitious new mountain biking strategies will bring them business opportunities.
Carrying out a fast-growing sport-mountain biking has great potential, and there is a lot of investment in the infrastructure needed for development to help achieve this goal. Therefore, it is expected that the market share of mountain bikes will further upgrade during the forecast period. Market Research Future (MRFR) claimed in a recent mountain bike market analysis that during the evaluation period, the market is expected to grow at a compound annual growth rate of approximately 10%.
Covid-19 has proven to be a boon for the mountain bike industry, as bicycle sales have increased fivefold during the pandemic. It is expected that 2020 will be an important year for cross-country competitions, and the Olympic Games will be held as scheduled. However, due to the global pandemic, most industries are in trouble, many competitions are cancelled, and the mountain bike industry has to face serious consequences.
However, with the gradual relaxation of lock-in requirements and the further increase in the popularity of mountain bikes, the mountain bike market is seeing a surge in revenue. In the past few months, as people ride bicycles during the pandemic to stay healthy and adapt to a world away from society, the bicycle industry has grown amazingly. The demand of all age groups is increasing sharply, this has become a developing business opportunity, and the results are exciting.
Mountain bikes are bicycles mainly designed for cross-country activities and power sports/adventure sports. Mountain bikes are very durable and can improve durability in rough terrain and mountainous areas. These bicycles can withstand a large number of repetitive movements and severe shocks and loads.