Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Mountain Bike Shoes market.
Trusted Business Insights presents an updated and Latest Study on Mountain Bike Shoes Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Mountain Bike Shoes market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Mountain Bike Shoes Market
The global mountain bike shoes market size was valued at USD 518.3 million in 2018 and is expected to expand at a CAGR of 6.4% from 2021 to 2026. The growth is attributed to growing trend of mountain biking, trekking, and recreational activities. Rising popularity of mountain and off-road biking coupled with growing safety concerns while riding through rugged terrains is boosting the product demand
Mountain Bike Shoes are specially designed to provide protection from rocks and have stiff sole to enhance power transmission. Easy and reliable fastening increases confidence, comfort, and safety of the riders. MTB footwear are rugged with the required flex to provide enough traction while riding the bike on tough terrain. These footwear sustain all weather conditions making them more popular among consumers. Carbon rubber soles in MTB footwear offer more traction than traditional shoes while walking over rocks and slippery pathways making it safer than traditional shoes.
Growing consumer interest in participation events such as gravel races, mountain bike stage races, and marathons is anticipated to drive the product demand, which in turn is expected to fuel the mountain bike footwear market growth. Traditional shoes are flexible whereas mountain bike shoes are designed to keep the feet rigid, transmitting all power to pedals with no power loss. MTB shoes with two cleats hole, also known as SPD cleats, recessed into sole making which also helps while walking, casual road biking, and indoor cycling. Consumers opt for flat or clipless MTB shoes depending on the type of pedals.
Product features such as high ventilation provided by mesh holes either at the top or bottom or both is supporting mountain bike cycling shoes market growth. High ventilation coupled with variety in fastening of shoes such as Velcro straps, dial system, ratchet buckles, and laces is anticipated to fuel the product demand. Many manufacturers have launched waterproof and dust resistant shoes while other focus on improving the drainage ability. Manufacturers focus on combining the major challenges faced by the consumers while riding the bike. Manufacturers across the globe are partnering with Boa Technology Inc. to use their dial fastening system. The Boa Fit System IP-1 and L6 product category is popular among consumers due to its micro-adjustable dial providing rider to obtain uniform fit without any pressure points.
Distribution Channel Insights
Offline distribution channel segment is projected to continue holding the largest market share over the forecasted period. The growth is attributed to rise in the number of specialty stores dedicated to cycling equipment and accessories. Consumers prefer purchasing footwear and other accessories while purchasing the MTB. They also prefer purchasing footwear from stores to find the right fit and to understand the mechanism of the shoes functionality with the bicycle pedals.
Online segment is estimated expand at the fastest CAGR of 7.2% during the forecast period. Increase in social media marketing is supporting the growth of online distribution channel. Availability of a wide range of product with an option to compare them based on features and prices coupled with swift product delivery and easy returns policies is anticipated to drive the segment growth. Consumers prefer multi brand online retailers to save time.
End User Insights
Gender based marketing campaigns are helping companies to reach the potential customer base. Rising influence of internet, social media platforms, and events such as Tour de France and Ronde van Vlaanderen are supporting companies to promote their product offerings. The male segment is estimated to continue holding the largest market share over the forecasted period. High popularity of cycling among men is one of the major factors driving the demand for Mountain Bike Shoes.
The female segment is estimated to register the fastest CAGR of 6.8% over the forecasted period. Rising number of women cyclists is propelling the demand of MTB shoes. Manufacturers are working on simplifying cycling mechanism by innovating efficient shock absorbers, seating, and gear system. High demand for Mountain Bike Shoes from millennial women, owing to increasing participation in bicycling events is anticipated to bode well for the growth of the segment in near future.
Regional Insights of Mountain Bike Shoes Market
Asia Pacific is estimated to expand at the fastest CAGR during the forecast period. Increase in adoption of mountain biking as a leisure and adventure sport in countries such as China, Japan, Singapore, and others is anticipated to drive the regional growth. Growing number of specialty retail outlets for sports accessories coupled with increasing online purchase is supporting the demand for Mountain Bike Shoes in the region.
Europe is estimated to continue holding the largest market share in the forthcoming years. Increasing number of female cyclists is driving the regional revenue growth. Countries such as Germany, France, and U.K. are driving the mountain bike shoes market owing to increasing consumer expenditure on safety accessories for bike riders. North America, on the other hand, is also estimated to witness strong growth over the forecasted period owing to growing popularity of mountain biking and presence of some of the worlds best tracks for mountain biking in Canada and U.S.
Market Share Insights of Mountain Bike Shoes Market
Major market players include GIRO SPORT DESIGN; Adidas Outdoor; Pearl Izumi; SHIMANO INC.; Specialized Bicycle Components; NorthWave; Fox Head, Inc.; Frankd MTB Apparel; Five Ten Footwear Company; and Trek Bicycle Corporation. Key players take interest in offering sponsorships to various sporting events for product promotions. Also, to increase their geographical reach, the companies engage in partnerships with teams to launce high end products and pave a sustainable growth path. For instance, in 2019, NorthWave announced partnership with Astana Pro Team, to promote its high end Northwave Extreme Pro shoes. It is will be premiered at the Taipei Cycle Show. This partnership gave NorthWave an opportunity to showcase their wide product portfolio to the visitors and potential customers.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Mountain Bike Shoes Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global Mountain Bike Shoes market report on the basis of end user, distribution channel, and region:
End User Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million; 2015 – 2025)
Quick Read Table of Contents of this Report @ Mountain Bike Shoes Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580