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Mountain Bike Shoes Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global mountain bike shoes market was valued at USD 6.63 billion in 2021 and is expected to expand at a CAGR of 7.2% from 2022 to 2030. Mountain biking has become a popular adventure sport and leisure activity among people, which is driving the demand for mountain bike shoes. Mountain bike shoes are designed to provide superior performance and comfort while riding on rugged terrain. Moreover, the increasing number of bike parks and trails worldwide has supported the growth of the market.
The market is witnessing a surge in demand for lightweight and durable shoes. This has led to the development of innovative designs and materials, such as carbon-fiber soles and waterproof materials, which offer superior performance and comfort. In addition, new bike shoe technology is also being integrated into mountain bike shoes, such as clipless designs and Power Transfer System, which provide improved traction and power transfer to the pedals.
The increasing number of women mountain bike riders is also driving the demand for women-specific mountain bike shoes. Manufacturers are focusing on the development of products that are specifically designed for women riders, offering better fit and comfort. Companies are also launching customization services, wherein the customers can design their own shoes as per their preferences. For instance, in October 2020, Specialized launched the Adapt Shoe Program, allowing riders to customize their shoes with various colors, lacing options, and closure systems.
The rising trend of online shopping is further boosting the sales of mountain bike shoes. The e-commerce platform provides various discounts and offers on such products, which attracts customers and increases their willingness to buy. Moreover, the availability of a wide variety of shoes from different brands on the online platform provides customers with more options to choose from. The increasing number of online stores, such as Amazon and Zappos, is further contributing to the growth of the market.
Product Insights
The mountain bike shoes segment is anticipated to expand at the fastest CAGR of 5.6% during the forecast period. Increasing focus among mountain bikers on performance and comfort is driving the demand for mountain bike shoes. According to an article published by Total Women’s Cycling, in August 2020, mountain bike shoes are designed to provide riders with a secure and stable fit while they are riding on rough terrain. In addition, the rising number of adventure seekers and the increasing popularity of mountain biking is further increasing the demand for mountain bike shoes.
The road bike shoes segment is expected to hold a significant share in the global market. Increasing focus on cycling as a form of fitness and recreational activity, is boosting the demand for road bike shoes across the globe. According to an article published by Bicycle Retailer, in June 2020, cycling shoes are designed to provide cyclists with a comfortable ride and greater power transfer. In addition, the introduction of lightweight and stylish road bike shoes is expected to fuel the market growth over the forecast period.
Distribution Channel Insights
The specialty stores segment held the largest share in the market in 2022 and is anticipated to experience the highest CAGR during the forecast period. The growth of the segment is mainly attributed to the increasing number of specialty stores for mountain bike shoes. These stores offer a wide range of mountain bike shoes of different colors, sizes, and brands. Specialty stores also provide personalized services and guidance to customers, helping them to find the right type of mountain bike shoes according to their needs.
The online segment is expected to grow at the highest CAGR during the forecast period. The increasing popularity of online shopping platforms, such as Amazon and Flipkart, has enabled companies to launch their own websites, enabling customers to purchase a variety of mountain bike shoes from the comfort of their homes. Additionally, customers can compare the prices and features of different bike shoes available on the platform, which helps them to choose the best one.
Type Insights
The performance segment accounted for the largest revenue share of 44.1% in the year 2022. Performance mountain bike shoes are designed and engineered to offer the highest level of performance and comfort. They are lightweight, offer better connectivity and control, and provide better power transfer when compared to other types of mountain bike shoes. The performance segment is expected to witness strong growth over the forecast period, driven by an increase in the number of mountain bike racing events and the popularity of mountain biking among adventure seekers.
The recreational segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. Recreational mountain bike shoes are designed to provide comfort and support while pedaling. They are designed with a flat sole and are usually heavier than performance shoes. They are usually used by recreational cyclists who ride for leisure and joy. The increasing popularity of recreational cycling and the rising trend of adventure sports is expected to fuel the demand for recreational mountain bike shoes in the coming years.
Regional Insights
Europe is estimated to dominate the market, accounting for the largest revenue share of around 38.2% in 2022. Increasing demand for mountain biking shoes, coupled with rising disposable income, is expected to drive the growth of the market in the region. Furthermore, the growing sports tourism in the region is also expected to further drive the market growth. For instance, in October 2021, over 700 mountain bikers from different countries toured the Swiss Alps for a week as part of the Swiss Epic Mountain Bike Race.
North America is estimated to witness the second-fastest growth in the coming years. An increase in the number of recreational activities and the growing trend of outdoor activities are the key factors contributing to the growth of the market in North America. Furthermore, the presence of key players, such as Adidas, Nike, and Puma, is expected to further boost the growth of the market in the region. For instance, in December 2021, Adidas launched the Terrex Trailmaker mountain bike shoe in the U.S.
Financial Projections
In this part of the mountain bike shoes products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your mountain bike shoes products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a mountain bike shoes products business comes from sales of the products. This can include direct sales from the business, sales through distributors and wholesalers, and sales through online stores. Here you will find a list with a description of each of them and other possible sources of profit such as discounts, promotions, and sales of accessories.
Projecting Expenses
In this section, all the regular expenses related to keeping the mountain bike shoes products business running will be described. The list of operating expenses includes product development costs, marketing and advertising costs, wages and salaries, rent, utilities, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the mountain bike shoes market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Shimano launched the XC7 mountain bike shoes, designed to provide superior traction and grip on a variety of mountain biking surfaces.
– In August 2022, Five Ten launched the SPEEDCROSS mountain bike shoes, designed with a new tread pattern for better grip and stability.
– In October 2022, Pearl Izumi launched the X-Alp Launch mountain bike shoes, designed with a lightweight sole to provide optimal pedaling efficiency.
Some of the prominent players in the mountain bike shoes market include:
– Shimano
– Five Ten
– Pearl Izumi
– Merrell
– Giro
– Northwave
– Specialized
– La Sportiva
– Salomon
– Bontrager
Global Mountain Bike Shoes Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global mountain bike shoes market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Clipless
– Flat Pedal
– Platform
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Specialty Stores
– Hypermarkets & Supermarkets
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Low Cut
– Mid Cut
– High Cut
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is a key factor that is expected to propel the growth of the mountain bike shoes market. Manufacturers are focusing on introducing innovative designs and technology in their products to differentiate them from competitors and to gain a competitive edge in the market. For instance, Giro has recently launched its new mountain bike shoe line, Aether, with a unique BOA lacing system that provides a secure fit and a customisable adjustability.
[Q]: Who are the Key Players in the Mountain Bike Shoes Market?
[A]: Key players in the mountain bike shoes market include Shimano, Inc., Five Ten, Adidas AG, Giro, Specialized Bicycle Components, Scott Sports SA, Pearl Izumi, Inc., Bontrager, PEARL IZUMI USA, Inc., and Mavic.
[Q]: Which Region Offers the Largest Opportunity for Sales of Mountain Bike Shoes?
[A]: Asia Pacific is expected to be the fastest-growing region for the mountain bike shoes market. Rapid growth in the region is attributed to the increasing population, rising disposable income, and growing health consciousness among consumers.
[Q]: What are the factors driving the mountain bike shoes market?
[A]: Factors such as the increasing demand for mountain bike shoes from professional athletes and recreational cyclists, the expanding e-commerce industry, the increasing demand for lightweight and comfortable shoes, and the availability of technologically advanced mountain bike shoes are expected to drive the mountain bike shoes market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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