The bicycle tires market may witness good growth during the assessment period of 2019-2029 on the back of the rising demand for bicycles across the globe. The lockdown restrictions due to the novel coronavirus outbreak have led many people concentrate on their fitness regimes.
As gyms in numerous parts of the world were closed, people opted for cycling as a means of exercise. This aspect led to a surge in the sale of bicycles. Hence these crucial factors may invite tremendous growth opportunities for the bicycle tires market.
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Nowadays, many customizable tires are available for specific road types. This factor invites immense growth opportunities for the bicycle tires market.
Production Facility Expansion and Discovery of Untapped Opportunities Invite Growth
As the bicycle sales surge, the demand for bicycle tires is also increasing. For catering to the escalating demand, players in the bicycle tires market are in pursuit of expanding manufacturing facilities. Increased investments in research and development activities are helping the players to explore new insights into bicycle tires. Through these insights, manufacturers focus on producing bicycle tires that are more durable and robust.
Fat Tires to Unlock Golden Growth Opportunities
Fat tires have recently gained substantial traction across a considerable chunk of the populace. The features of these tires are attracting great demand from individuals. Furthermore, these tires are low-maintenance. Hence, the rising popularity of fat tire bikes may turn to be a game-changer in terms of the growth of the bicycle tires market.
Since the advent of the novel coronavirus, many people are concentrating on health and fitness to increase immunity levels. Cycling is linked to numerous health benefits. Post lockdown, cycling has become a popular exercising activity. This aspect is eventually proving to be a growth multiplier for the bicycle tires market. The heightening awareness about sustainability may also prove fruitful for the growth of the bicycle tires market.
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