Regular Bicycles - Brunei Darussalam

In 2024, revenue in the Regular Bicycles market in Brunei Darussalam is forecasted to reach US$3.85m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -5.77%, leading to a projected market volume of US$2.86m by 2029.
By 2029, unit sales in the Regular Bicycles market are expected to reach 16.11k bicycles.
The volume weighted average price of Regular Bicycles market in the market in 2024 is projected to be US$192.10.
It is evident from an international standpoint that the highest revenue will be generated the United States, amounting to 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 Brunei Darussalam has seen moderate growth due to factors such as increasing demand for eco-friendly transportation, growing health consciousness, and the convenience of online bicycle purchases. However, the market's growth rate has been impacted by a subdued decline caused by economic challenges and limited disposable income.

Customer preferences: As consumers in Brunei Darussalam become more health-conscious, there is a growing demand for regular bicycles as a means of exercise and transportation. This trend is also influenced by the country's push for sustainable living and the promotion of cycling as an eco-friendly mode of transport. Additionally, the rise in popularity of outdoor activities and leisure pursuits has also contributed to the increased demand for regular bicycles.

Trends in the market: In Brunei Darussalam, the Regular Bicycles Market within the Bicycles Market is experiencing a shift towards e-bikes, with more consumers opting for electric-powered bikes for convenience and sustainability. This trend is expected to continue, driven by government initiatives promoting eco-friendly transportation and the growing demand for alternative modes of transportation. Industry stakeholders should focus on developing and promoting affordable and efficient e-bike options to cater to this growing market segment. Additionally, there is a rising interest in bike-sharing programs, presenting opportunities for collaboration between the government, bicycle manufacturers, and technology companies to develop innovative solutions and capitalize on this trend.

Local special circumstances: In Brunei Darussalam, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's small geographical size and high-income economy. The government's initiatives promoting healthy and sustainable modes of transportation have led to a growing demand for regular bicycles. Additionally, the country's cultural values promoting an active lifestyle have further boosted the market. However, strict regulations on road safety and the limited availability of dedicated cycling lanes hinder the growth of the market.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Brunei Darussalam is impacted by macroeconomic factors such as consumer spending, inflation rates, and government policies. A strong economy with low inflation rates and favorable government policies can lead to higher consumer spending and, in turn, drive market growth. Conversely, a weak economy with high inflation and restrictive policies can hinder market performance. Additionally, global economic trends, such as trade agreements and tariffs, can also impact the market by affecting the cost of raw materials and components used in bicycle production. Overall, a stable and thriving economy is crucial for the growth of the Regular Bicycles Market in Brunei Darussalam.

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.