Electric Bicycles - Fiji | Statista Market Forecast

In 2024, revenue in the Electric Bicycles market in Fiji is forecasted to reach US$180.80k.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.56%, leading to a projected market volume of US$237.00k by 2029.
The unit sales in the Electric Bicycles market of Fiji are expected to reach 213.00bicycles by 2029.
The volume weighted average price of the Electric Bicycles market in Fiji in 2024 is projected to be US$1.01k.
When looking at the international perspective, it is evident that the highest revenue will be generated China (US$12bn in 2024).
In Fiji, the Electric Bicycles market is rapidly expanding, driven by a growing awareness of eco-friendly transportation options among consumers.

Definition:

Electric 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 combination of human strength and by electrically powered motors.

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 electric bicycles market covers all types of bicycles with electrical assistance, including road and racing bicycles, off-road bicycles, and special purpose bicycles. 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.

Electric Road and racing bicycles such as cruiser, e-standard, e-gravel road-,e-touring-, and e-fixed gear bikes

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

The Electric Bicycles Market in Fiji has seen minimal growth due to factors such as limited consumer awareness, lack of infrastructure, and high prices. However, with increasing government initiatives and rising environmental concerns, the market is expected to witness gradual growth.

Customer preferences: As sustainability and environmental consciousness continue to gain traction in Fiji, there has been a growing interest in electric bicycles among consumers. This trend is also influenced by the country's increasing urbanization and traffic congestion, making electric bicycles a practical and eco-friendly transportation option. Furthermore, the rising cost of fuel and the desire for a more active lifestyle have also contributed to the growing demand for electric bicycles in Fiji.

Trends in the market: In Fiji, the Electric Bicycles Market is experiencing a surge in demand as consumers seek eco-friendly and cost-effective modes of transportation. This trend is expected to continue as the government promotes sustainable transportation initiatives and the tourism industry embraces electric bicycles as a popular tourist activity. This presents opportunities for industry stakeholders to expand their product offerings and tap into a growing market. Additionally, the shift towards e-bikes could potentially impact traditional bicycle sales and require manufacturers to adapt their production processes.

Local special circumstances: In Fiji, the Electric Bicycles Market within the Bicycles Market is influenced by the country's unique geographical landscape. The archipelago's rugged terrain and limited road infrastructure have led to a high demand for electric bicycles as a practical mode of transportation. Additionally, the Fijian culture values sustainability and eco-friendliness, making electric bicycles a popular choice among environmentally-conscious consumers. The government's efforts to promote sustainable transportation options have further fueled the growth of the electric bicycles market in Fiji.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market is also affected by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with a stable economy and favorable fiscal policies are likely to experience higher demand for electric bicycles. Additionally, the increasing awareness about environmental sustainability and the rising cost of fuel are driving the demand for electric bicycles globally. Moreover, the government initiatives and subsidies for promoting eco-friendly transportation are further contributing to the growth of the electric bicycles market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of electric 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.