Regular Bicycles - Bolivia | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Bolivia is forecasted to reach US$11.29m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.06%, leading to a projected market volume of US$11.32m by 2029.
By 2029, unit sales in the Regular Bicycles market of Bolivia are expected to reach 45.16k bicycles.
The volume weighted average price of Regular Bicycles market in the Bolivian market in 2024 is projected to be US$212.60.
From a global perspective, it is evident that the highest revenue will be generated the United States ( 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 Bolivia has seen a slight decline in growth rate due to factors such as low disposable income and limited infrastructure for cycling. However, with increasing health awareness and government initiatives, the market is expected to see a gradual recovery.

Customer preferences: In Bolivia, there has been a noticeable increase in demand for regular bicycles as a more affordable and eco-friendly mode of transportation. This trend is driven by a growing awareness of environmental issues and a desire for cost-effective solutions. Additionally, there is a cultural shift towards embracing a healthier lifestyle, with many individuals choosing to incorporate cycling into their daily routines. This has led to a rise in the popularity of cycling clubs and organized group rides, creating a sense of community and promoting a more active lifestyle.

Trends in the market: In Bolivia, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles. This trend is being driven by the government's initiatives to promote sustainable transportation and reduce air pollution. As more people opt for electric bicycles, there is also a growing market for accessories and maintenance services. This trend is expected to continue as consumers become more environmentally conscious and seek alternative modes of transportation. Industry stakeholders can capitalize on this trend by offering a wider range of electric bicycles and investing in the development of infrastructure to support their use.

Local special circumstances: In Bolivia, the Regular Bicycles Market within the Bicycles Market is heavily influenced by geographical factors such as the country's mountainous terrain and lack of developed transportation infrastructure. This has led to a strong demand for durable and versatile bicycles that can navigate through challenging terrain. Additionally, cultural factors such as the popularity of cycling as a means of transportation for daily activities, as well as government regulations promoting eco-friendly modes of transportation, have also shaped the market. These unique local factors make Bolivia's Regular Bicycles Market within the Bicycles Market distinct from other markets, creating a niche market for specialized bicycles and accessories.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Bolivia is affected by macroeconomic factors such as consumer spending, government policies, and economic stability. The country's economic health, as well as global economic trends, can impact the demand for regular bicycles. For instance, a growing economy with a stable currency can lead to increased consumer confidence and higher purchasing power, resulting in a higher demand for regular bicycles. Additionally, government policies that promote cycling as a means of transportation and promote the use of bicycles can also drive market growth. On the other hand, economic instability and fluctuations in exchange rates can negatively impact consumer spending and result in a decline in demand for regular bicycles.

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.