Bicycles - Worldwide

  • Worldwide
  • Revenue in the Bicycles market is projected to reach €63.29bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.69%, resulting in a projected market volume of €67.67bn by 2028.
  • Bicycles market unit sales are expected to reach 138.30m bicycles in 2028.
  • The volume weighted average price of Bicycles market in 2024 is expected to amount to €452.00.
  • From an international perspective it is shown that the most revenue will be generated in China (€9,621m in 2024).
 
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Analyst Opinion

The Bicycles market in Worldwide is experiencing significant growth and development due to several factors. Customer preferences are shifting towards more sustainable and eco-friendly modes of transportation, leading to an increased demand for bicycles. Additionally, the rising awareness about health and fitness has also contributed to the growth of the market.

Customer preferences:
Customers are increasingly choosing bicycles as a mode of transportation due to their numerous benefits. Bicycles are a cost-effective and environmentally friendly alternative to cars and motorcycles, making them an attractive option for urban dwellers. Moreover, the COVID-19 pandemic has also played a role in increasing the popularity of bicycles, as people are looking for ways to avoid crowded public transportation and maintain social distancing.

Trends in the market:
One of the key trends in the Bicycles market in Worldwide is the growing popularity of electric bicycles. Electric bicycles offer the convenience of a traditional bicycle with the added assistance of an electric motor, making them suitable for longer commutes and hilly terrains. The demand for electric bicycles is driven by their ability to provide a greener mode of transportation without the need for excessive physical exertion. Another trend in the market is the increasing popularity of specialized bicycles. Customers are now looking for bicycles that cater to their specific needs, such as mountain bikes for off-road adventures or road bikes for long-distance cycling. This trend has led to the emergence of niche bicycle manufacturers that focus on producing high-quality specialized bicycles.

Local special circumstances:
In certain regions, the Bicycles market is also influenced by local special circumstances. For example, in urban areas with limited parking spaces and heavy traffic congestion, bicycles are seen as a more practical and efficient mode of transportation. Additionally, in countries with a strong cycling culture, such as the Netherlands and Denmark, bicycles are deeply ingrained in the local lifestyle and infrastructure.

Underlying macroeconomic factors:
Several macroeconomic factors contribute to the development of the Bicycles market in Worldwide. Government initiatives and policies promoting sustainable transportation and reducing carbon emissions have played a significant role in driving the demand for bicycles. Incentives such as subsidies, tax benefits, and the development of cycling infrastructure have encouraged more people to adopt bicycles as a means of transportation. Furthermore, the increasing emphasis on health and fitness has also contributed to the growth of the Bicycles market. As people become more health-conscious, they are actively seeking ways to incorporate physical activity into their daily routines. Bicycling offers a convenient and enjoyable way to stay fit, which has further fueled the demand for bicycles. In conclusion, the Bicycles market in Worldwide is witnessing growth and development due to changing customer preferences, including a shift towards sustainable transportation and an increased focus on health and fitness. The market is also influenced by local special circumstances, such as limited parking spaces and strong cycling cultures. Moreover, underlying macroeconomic factors, such as government initiatives and the emphasis on reducing carbon emissions, are driving the demand for bicycles.

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 Top-Down 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..

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice 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)..

Vue d’ensemble

  • Unit Sales
  • Analyst Opinion
  • Revenue
  • Price
  • Global Comparison
  • Methodology
  • Key Market Indicators
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