Regular Bicycles - Argentina | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Argentina is forecasted to reach US$273.70m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 6.06%, leading to a projected market volume of US$367.40m by 2029.
By 2029, unit sales in the Regular Bicycles market of Argentina are expected to reach 1.00m bicycles.
The volume weighted average price of Regular Bicycles market in the market of Argentina in 2024 is expected to be US$313.80.
On a global scale, the United States is expected to generate the highest revenue, reaching US$7bn in 2024.

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 Argentina is facing subdued growth due to factors such as economic instability and a decline in consumer purchasing power. Despite this, the market is still experiencing growth, driven by the increasing popularity of cycling and the convenience of online purchasing options.

Customer preferences: E-bikes have gained popularity in Argentina as an alternative mode of transportation, particularly among urban dwellers. This trend is attributed to the growing awareness of the benefits of sustainable and eco-friendly transportation options. Additionally, the rising cost of fuel and traffic congestion have also contributed to the increased demand for e-bikes. As a result, there has been a surge in the production and sale of e-bikes in the Regular Bicycles Market, with manufacturers and retailers catering to this growing consumer preference.

Trends in the market: In Argentina, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the increasing popularity of cycling as a form of exercise and transportation. This trend is expected to continue as the government invests in infrastructure to promote cycling, such as bike lanes and public bike sharing programs. Additionally, there is a growing trend of using electric bicycles, which offer a more convenient and eco-friendly option for commuters. These trends indicate a shift towards a more sustainable and active lifestyle, with potential implications for industry stakeholders such as bike manufacturers and retailers. As the market continues to grow, there may be opportunities for innovation and expansion in the Regular Bicycles Market in Argentina.

Local special circumstances: In Argentina, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's economic and political situation. Inflation and currency devaluation have made imported bicycles more expensive, leading to a rise in demand for locally produced bicycles. Additionally, the country's love for sports and outdoor activities has contributed to the growth of the regular bicycles market. Furthermore, the government's initiatives to promote cycling as a sustainable mode of transportation have also played a significant role in the market's dynamics.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Argentina is also impacted by macroeconomic factors such as consumer spending, economic stability, and government policies. A stable economy and increased disposable income can lead to higher demand for bicycles, while economic downturns can negatively affect sales. Additionally, government policies that promote sustainable transportation and investment in infrastructure can drive market growth. In contrast, policies that restrict imports or impose high tariffs can hinder market expansion. The increasing awareness of health and environmental benefits of cycling is also influencing market growth in Argentina.

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.