Regular Bicycles - Jordan

Jordan

In 2024, revenue in the Regular Bicycles market in Jordan is forecasted to reach €7.96m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -4.63%, leading to a projected market volume of €6.28m by 2029.
By 2029, unit sales in the Regular Bicycles market of Jordan are expected to reach 44.22k bicycles.
The volume weighted average price of Regular Bicycles market in the market in Jordan is projected to be €144.80 in 2024.
It is evident from an international perspective that the highest revenue will be generated the United States (€6,332m in 2024).

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Regular Bicycles Market in Jordan has seen a slight decline in growth rate, likely due to factors such as economic instability and a lack of government support for the industry. However, with increasing health consciousness and the convenience of online shopping, the market is expected to pick up in the coming years.

Customer preferences: With the rise of eco-consciousness and sustainable living, there has been a growing demand for regular bicycles in Jordan. This trend is driven by a shift towards healthier and more environmentally friendly modes of transportation. Additionally, the increasing number of bike lanes and cycling events in the country has also contributed to the popularity of regular bicycles. This reflects a cultural shift towards embracing a more active and eco-friendly lifestyle among Jordanian consumers.

Trends in the market: In Jordan, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles, driven by the increasing need for eco-friendly transportation options. This trend is expected to continue, with the government implementing policies to promote the use of electric bicycles and reduce traffic congestion. Additionally, there is a growing trend of using mobile apps for bike-sharing services, providing convenience and accessibility for consumers. These trends have significant implications for industry stakeholders, including manufacturers, retailers, and service providers, as they must adapt to the changing market dynamics and invest in innovative solutions to meet consumer demands.

Local special circumstances: In Jordan, the Regular Bicycles Market is influenced by the country's unique geography, with its diverse terrain ranging from deserts to mountains. This has led to a demand for bicycles with specific features, such as sturdy frames and thick tires, to navigate the varied landscape. Additionally, cultural factors, such as a preference for outdoor activities and a growing interest in eco-friendly transportation, have contributed to the growth of the market. Furthermore, the government's initiatives to promote cycling as a means of transportation have also played a significant role in shaping the market dynamics.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Jordan is also influenced by macroeconomic factors such as consumer spending, government policies, and economic stability. Countries with favorable economic conditions and government support for sustainable transportation are experiencing higher demand for regular bicycles. Additionally, the rising awareness about health and fitness, coupled with the growing trend of eco-friendly transportation, is driving the demand for regular bicycles in the country. Moreover, the increasing urbanization and traffic congestion in Jordan are also fueling the demand for regular bicycles as a convenient and cost-effective mode of transportation.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of bicycles and the respective average prices for bicycles.

Modeling approach:

Market sizes are determined through a Bottom-Up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use publications of industry associations, expert blogs, and data provided by governments and scientific institutions. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, and consumer spending per capita (based on current prices). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the ARIMA time series forecast and forecasts based on previous growth rates are well suited for forecasting the future demand for bicycles due to the brick and mortar nature of this market. The main drivers are GDP, consumer spending per capita, and population. The scenario analysis is based on a Monte Carlo simulation approach generating a range of possible outcomes by creating random variations in forecasted data points, based on assumptions about potential fluctuations in future values. By running numerous simulated scenarios, the model provides an estimated distribution of results, allowing for an analysis of likely ranges and confidence intervals around the forecast.

Additional notes:

The data is modeled using current exchange rates. The market is updated once a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).