Regular Bicycles - Albania | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Albania is forecasted to reach US$12.30m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -4.00%, leading to a projected market volume of US$10.03m by 2029.
By 2029, unit sales in the Regular Bicycles market in Albania are expected to reach 19.88k bicycles.
The volume weighted average price of Regular Bicycles market in Albania in 2024 is projected to be US$507.00.
It is highlighted from a global standpoint that the highest revenue will be generated the United States (US$7bn in 2024).
In Albania, the demand for regular bicycles in the market is steadily increasing among urban commuters seeking eco-friendly transportation options.

Definition:

Regular 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 without any 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 regular bicycles market covers all types of bicycles including road and racing bicycles, off-road bicycles, and special purpose bicycles. However, motorcycles, scooters, mopeds, secondhand bicycles, electric 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

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

The Regular Bicycles Market in Albania has seen a minimal decline in growth rate due to various factors such as limited government investment in infrastructure, low disposable income of consumers, and lack of awareness about the benefits of cycling.

Customer preferences: The Regular Bicycles Market within the Bicycles Market market in Albania is experiencing a shift towards eco-friendly and sustainable options, with consumers showing a preference for electric bikes. This trend is driven by a growing awareness of environmental issues and a desire to reduce carbon footprint. Additionally, the increasing popularity of bike-sharing programs in urban areas is also contributing to the rise in demand for regular bicycles as a means of transportation.

Local special circumstances: In Albania, the Regular Bicycles Market is heavily influenced by the country's mountainous terrain and its cultural preference for outdoor activities. This has led to a high demand for mountain bikes and a growing interest in road cycling. Additionally, the government's efforts to promote eco-friendly transportation have also contributed to the rise of the regular bicycles market. However, limited infrastructure and regulatory barriers have hindered the growth of the market, creating a unique set of challenges for companies operating in this market.

Underlying macroeconomic factors: The growth of the Regular Bicycles Market in Albania is influenced by macroeconomic factors such as consumer purchasing power, government policies on transportation and infrastructure, and economic stability. Countries with strong economic growth and favorable policies for promoting sustainable transportation are experiencing a higher demand for regular bicycles. Additionally, the rise of health consciousness and the need for eco-friendly modes of transportation are driving the demand for regular bicycles in the market.

Data coverage:

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