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The global BMX bike market size was valued at USD 289.7 million in 2021 and is projected to grow from USD 303.2 million in 2022 to USD 420.7 million by 2029, exhibiting a CAGR of 4.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with BMX bike experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a growth of 4.66% in 2020 as compared to 2019.
BMX is one of the most popular bike categories for bicycle motocross. These off-road and on-road sports bicycles are used for stunt riding and racing. The bikes are also well-known among children's bike categories and the younger population. Therefore, they are offered in many sizes as per the rider's age and height for an improved and safe riding experience. Additionally, their lightweight nature provides greater riding efficiency. The growing popularity of bicycle motocross sports drives the demand for these types of bikes worldwide.
Limitations on Public Transportation to Boost Demand for BMX Bicycles
The COVID-19 pandemic shrank the life of main economies by limiting the pastimes and discouraging the use of public transport such as buses and railways. The populace is shifting toward bicycles, one of the most basic forms of mobility. Therefore, in 2020, the overall bicycle market witnessed a boom worldwide.
The growing inclination toward personal fitness and mobility has caused acceleration. With restrictions on movement and access to gyms or sports arenas, people have taken up cycling as an alternate way of exercising. Social distancing norms and protection against the virus have further led to the use of personal modes of transportation. Such factors positively impacted the market globally during the pandemic period and are anticipated to impel market growth in the post-pandemic period.
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Upward Trend for Bicycle Infrastructure Improvement to Drive Market Growth
The increasing trend for improving cycling infrastructure and the growing number of active BMX racing tracks around the world positively influence the growth of the global market. For instance, in September 2021, Irish local authorities announced around USD 233.39 million for bicycle and pedestrian facilities, almost three times more than the funding for urban transport.
Therefore, the increase in public spending on the development of bicycle infrastructure is expected to drive the BMX bicycle market growth. Moreover, the growing popularity of bike motocross sports due to the increasing number of BMX sports clubs worldwide and their promotional strategies to attract more members are likely to impact the market positively. Furthermore, the growing trend among the health-conscious population to use these bikes for fitness and commuting activities is expected to drive market growth.
Implementation of Favorable Government Policies to Propel Market Growth
Governments worldwide are taking initiatives to tackle car traffic congestion and using green energy for transportation. This has complemented the global bicycle market expansion. Companies across the globe are actively involved in product development and other strategies to reach the market and remain competitive in the global market. For instance, BMX bicycle manufacturers such as G.T. Bicycles, Mongoose, Haro, Redline Bicycles, Elite BMX, and others have introduced several BMX bicycle-related concepts, creating significant growth in the global as well as domestic market. Similarly, Haro Bikes expanded its U.K. dealer network by licensing IMG Distribution Ltd. to sell and new product launches of its bikes to clients across the U.K.
Governments have taken steps to support cycling infrastructure, which has also led to the growth of the bicycle motocross market. Additionally, in 2018, the Indian government launched the National Public Bicycle Program to support cycling infrastructure across the country. These government policies will favor global BMX bicycle market expansion over the study period.
Product Demand to Rise Due to Growth in Cycling as a Recreational and Fitness Activity
Consumers today are more inclined to their physical fitness. They are more likely to use bicycles to move from one place to another. Most people invest their time in various fitness activities & sports activities such as running, cycling, swimming, and yoga, to stay active, fit, and healthy daily. Moreover, cycling is considered a low-impact, healthy activity with many mental and physical benefits such as building endurance, cardiovascular fitness, muscle strength, and relieving stress.
Therefore, the growing improvement in bicycling infrastructure as a fitness and recreational activity is supporting the global BMX bike market growth. Further, many countries are more active in recreational activities, including BMX racing and general cycling racing runs for some causes. Similarly, rising awareness/craze for sports or BMX among kids propels the market demand.
Additionally, rising dedicated bike tracks or grounds for BMX racing create customer awareness to buy their product. In addition, brand ambassador, different marketing strategies of companies, and recent innovations in electric BMX are other factors propelling the market growth.
High Cost Associated with BMX Bikes to Limit the Growth of this Market
The high cost of BMX bikes is a prominent aspect hindering the growth of the global bicycle industry. Components, tires, frames, and technology costs make bikes more expensive than traditional bikes in the current scenario. Therefore, consumers find conventional bikes more suitable than electric bikes. Moreover, classic BMX bikes are gaining popularity worldwide due to various advantages such as low prices and easy transport from one place to another without the need for extra effort.
Moreover, a limited set of group interests in specific countries for bicycle motocross hamper the market growth. Furthermore, the development of e-bikes in China is high owing to the availability of suitable infrastructure. Still, the change is limited in other nations due to the unavailability of suitable infrastructure. This unavailability of appropriate infrastructure increases product costs and the prices of replacing or installing new products on bikes. Hence, these aspects hinder the global market growth.
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Increasing Health Awareness and Rising Sports Bike Event to Drive Sports Segment Growth
The sports segment held a leading market share of 61.41% in 2021 and will continue to dominate in the forthcoming years. BMX bikes are primarily used for bicycle motocross racing and off-road sports. Later, the rising popularity of bicycle motocross sports across various countries is expected to boost segment growth in the coming years. For instance, in July 2021, BMX freestyle completed its debut in the Tokyo Olympic Games, positively influencing its popularity among young people.
The fitness segment is projected to showcase the highest CAGR from 2022 to 2029. An accelerating number of the health-conscious populace and rising awareness regarding the health benefits of using BMX bicycles such as the concentrated risk of weight loss, cardiovascular diseases, and others are likely to propel the segment growth. Additionally, increasing use of these bikes for other applications such as short-distance commutes & recreational activities due to increasing fuel prices and environmental concerns are estimated to fuel the growth of this segment.
Rising Demand for Customers Accessibility to Boost the Online Segment Growth
The online segment held the major market share in 2021 and is expected to witness the fastest growth rate during the forecast period. In 2021, closed bike shops amid government-enforced lockdown reinforced the online segment to dominate the market. Moreover, the high adoption of online retail platforms in developed and developing countries due to customer convenience and the availability of various products is predicted to boost the segment growth over the forecast period. The offline segment is expected to grow considerably due to high consumer preference in developing and underdeveloped economies.
Growing Popularity of Racing Bikes to Propel the Demand for 20-22 Inch Top Tube Length Segment
The 20-22 inches segment captured a major BMX bike market share in 2020. 20-22-inch tube length is highly suitable for ages 10 and above riders. It is also ideal for riders of heights 5ft to 6ft. Therefore, this tube length is extremely popular among young BMX riders. Moreover, its high availability in online and offline retail further surges its adoption.
The 22 inches and above segment will likely record the fastest CAGR over 2022-2029. The growing partiality of professional riders for bicycle motocross bike frames of top tube lengths of more than 22 is expected to accelerate the segment growth in the forecast period. The 18-20 inches segment is also predictable to witness a considerable growth rate owing to its high suitability and increasing popularity among kids.
Increasing Awareness and Events Related to Street & Dirt BMX Bike Racing Aid Market Growth
In category, the street segment is expected to have the largest market share during the forecast period. Rising awareness about the health benefits among people along with kids increasing interest in cycling for sports BMX bikes is responsible for rising demand for street bikes. Moreover, their tire patterns are smoother as they are the perfect choice for street biking and stunts. As a result, a typical BMX rider can travel over the rough street tarmac with less resistance. Further, increasing dirt race events across the globe and use of the latest technology for dirt bikes are expected to create demand for dirt bikes during the forecast period.
North America BMX Bike Market Size, 2021 (USD Million)
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Based on geography, the market is classified into North America, Asia Pacific, Europe, and the rest of the world.
North America dominated the market in 2021. North America is expected to gain momentum backed by large consumer spending for outdoor recreational activities such as paddle cycling, surfing, bike riding, and others in countries such as the U.S. and Canada, leading to considerable revenues from BMX bikes in the region.
Asia Pacific has the largest market share and is anticipated to grow at the highest CAGR throughout the forecast period. The Asia Pacific market is anticipated to grow significantly due to supportive macroeconomic factors, introduction of new designs, awareness of the BMX bike segment, and high-end bikes from key players.
The market in Europe is anticipated to grow during the forecast period. Some of Europe's cities, such as France and the Netherlands are popular for bicycle motocross commuting. The Tour de France and the Ronde van Vlaanderen are two of Europe's most popular cycling competitions. European countries such as Belgium, Denmark, France, and Italy are rapidly building infrastructure to support and encourage BMX bike commuting.
The market share in the rest of the world is driven by increasing import volume of bikes in countries such as Argentina and Columbia. This is expected to support the consumption rate of the product in the region.
The market has a variety of local and international players. It has several players competing for gaining a prominent market position. This factor categorizes it into a highly fragmented segment. The players in the global market focus significantly on research and development activities. These activities help the players develop more efficient end-user bikes.
An Infographic Representation of BMX Bike Market
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The global BMX bike industry report provides a detailed analysis of the market and focuses on key aspects such as key players, offerings, objects, and end-users. Moreover, the report offers insights into market trends, competitive landscape, market competition, product pricing, regional analysis, market players, competition landscape, and the market status and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several direct and indirect factors that have contributed to the sizing of the global market in recent years.
Value (USD Million)
By Distribution Channel
By Top Tube Length
Fortune Business Insights says that the global market size was USD 289.7 million in 2021 and is projected to reach USD 420.7 million by 2029.
Registering a CAGR of 4.8%, the market will exhibit steady growth in the forecast period (2022-2029).
During the forecast period, the online distribution channel segment is expected to be the leading segment in the market.
Pacific Cycle is the leading player in the global market.
North America dominated the market in terms of share in 2021.
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