Bicycles - Austria | Statista Market Forecast

Revenue in the Bicycles market is projected to reach US$1.75bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.60%, resulting in a projected market volume of US$1.99bn by 2029.
Bicycles market unit sales are expected to reach 538.80k bicycles in 2029.
The volume weighted average price of Bicycles market in 2024 is expected to amount to US$3.35k.
From an international perspective it is shown that the most revenue will be generated China (US$12bn in 2024).

Definition:

Bicycles are means of transport designed to transport people and goods for professional and private purposes. They are used for leisure activities such as travelling or for physical exercise. Depending on the specific purpose and rider, bicycles come in different shapes and features.

They are powered by mere human strength or additionally with an assisting electrical engine. Unlike electrically powered scooters and mopeds, electrical bicycles always have pedals allowing them to be ridden with human power.

In recent years, different renting models have been established such as bike-sharing, in which bicycles can be rented for a defined period in exchange for a fee. These rented bikes are not included in this market outlook. Only bikes that were purchased for ownership are covered.

Structure:

The bicycles market covers all types of bicycles including road and racing bicycles, off-road bicycles, special purpose bicycles, electrical bicycles, hybrid bicycles, as well as bicycle supplies. However, motorcycles, scooters, mopeds, secondhand bicycles, as well as bikes purchased by bike-sharing services are not included.

Additional information:

The market comprises the number of bicycles sold, the average price paid per bicycle, revenue, and revenue growth as the key performance indicators. Revenue is derived as the product of the average price per bicycle times the number of bicycles purchased. Therefore, revenue excludes any profits from bike-sharing fees. Revenues are including VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.

Road and racing bicycles such as cruiser, standard, gravel road-, touring-, and fixed gear bikes
Off-road bicycles such as mountain bikes and cyclocross bikes
Special purpose bicycles such as folding-, BMX-, recumbent-, cargo, and kid´s bikes
Electrical and hybrid bicycles
Bicycle supplies such as bags, locks, separate bicycle baskets
Bicycle spare parts such as bicycle tubes, bicycle tires
New bicycles, e.g., new road and racing bicycles, new off-road bicycles

Motorcycles, scooters, mopeds
Secondhand bicycles
Bike-sharing bicycles
Rented bicycles

The Bicycles Market in Austria has been experiencing moderate growth due to factors such as increasing demand for eco-friendly transportation options, rising health consciousness among consumers, and the convenience of online sales. However, the market's growth rate is limited by factors such as high prices of electric bicycles and the popularity of other modes of transportation.

Customer preferences: The Bicycles Market in Austria has seen a rise in demand for electric bikes, as consumers prioritize sustainable and eco-friendly transportation options. This trend is also influenced by the country's growing focus on promoting cycling as a healthy and active lifestyle choice. Additionally, the popularity of bike-sharing programs and the emergence of smart bike technology have made biking more convenient and accessible for urban dwellers.

Trends in the market: In Austria, the Bicycles Market is experiencing a surge in electric bike sales, as consumers are increasingly looking for eco-friendly and cost-effective modes of transportation. This trend is expected to continue as the government promotes sustainable mobility and invests in cycling infrastructure. Additionally, there is a growing demand for high-end bicycles, with consumers willing to pay a premium for advanced features and design. These trends highlight the importance of innovation and sustainability in the industry and present opportunities for companies to tap into new markets and cater to evolving consumer preferences. Furthermore, the rise of e-commerce and online sales channels has opened up new avenues for reaching customers and expanding market reach.

Local special circumstances: In Austria, the Bicycles Market is influenced by the country's mountainous terrain and strong cycling culture. The government promotes cycling as a sustainable mode of transportation, resulting in a high demand for bicycles. The market also sees a trend towards electric bikes, driven by the country's strict emission regulations. Additionally, Austria's affluent population has a preference for high-end bicycles, leading to a niche market for premium brands. These unique factors contribute to the growth and evolution of the Bicycles Market in Austria.

Underlying macroeconomic factors: The growth of the Bicycles Market in Austria is heavily influenced by macroeconomic factors such as consumer spending habits, government policies, and economic stability. The country's strong economy and high disposable income levels have led to a growing demand for recreational and sustainable transportation options, such as bicycles. Additionally, the government's focus on promoting environmentally-friendly modes of transportation and investing in infrastructure for cycling has also contributed to the market's growth. However, fluctuations in global economic trends and changes in fiscal policies can impact consumer purchasing power and have a ripple effect on the Bicycles Market in Austria.

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.

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).

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

The bicycle market in Germany has been enjoying dynamic development for a very long time. Bicycles are a popular way to get around in both urban and rural areas, with young children learning to ride firmly entrenched in the national culture. Germany has a variety of scenic bike routes, but looking out for bike lanes in a city is a daily part of life both for cyclists and pedestrians. Many cyclists value the multiple advantages cycling brings – physical activity, saving money by foregoing commuting with public transport or driving, and the eco-friendly aspect. A German city, Munster, even made it on the list of the eight most bike-friendly cities in the world in 2022.