Regular Bicycles - Cambodia | Statista Market Forecast

The revenue in the Regular Bicycles market of Cambodia is forecasted to reach US$4.77m in 2024.
This represents an expected annual growth rate (CAGR 2024-2029) of -4.14%, leading to a projected market volume of US$3.86m by 2029.
The unit sales in the Regular Bicycles market are anticipated to hit 27.08k bicycles in 2029.
The volume weighted average price of Regular Bicycles market in the Cambodian market in 2024 is projected to be US$141.50.
Looking at the international landscape, the United States is poised to generate the highest revenue, 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 Cambodia is facing a minimal decline in growth rate due to factors such as low consumer awareness and lack of government support. Despite this, the market is still experiencing some growth due to the convenience of traditional bicycles for everyday use.

Customer preferences: The Regular Bicycles Market within the Bicycles Market in Cambodia has seen a rise in demand for eco-friendly and sustainable options, as consumers become more conscious of their environmental impact. This trend is also reflected in the growing popularity of electric bicycles, which offer a greener mode of transportation. Additionally, there has been an increase in the use of bicycles for leisure and recreational purposes, as people look for ways to stay active and explore their surroundings during the pandemic.

Trends in the market: In Cambodia, the Bicycles Market is experiencing a shift towards electric bicycles, with a growing number of manufacturers offering affordable and eco-friendly options. This trend is driven by the increasing demand for sustainable transportation solutions and the government's efforts to promote clean energy. As a result, the Regular Bicycles Market is facing tough competition from electric bicycles, which offer greater convenience and ease of use. This trend is expected to continue, with potential implications for industry stakeholders such as traditional bicycle manufacturers and retailers.

Local special circumstances: In Cambodia, the Regular Bicycles market is heavily influenced by the country's unique geography, with its flat terrain and tropical climate making it an ideal location for cycling. Additionally, the cultural preference for bicycles as a mode of transportation and the lack of strict regulations on bicycle usage also contribute to the growth of the market. These factors make the Regular Bicycles market in Cambodia distinct from other markets, and play a significant role in shaping its dynamics.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Cambodia is impacted by macroeconomic factors such as economic stability, government policies, and consumer spending patterns. With the country's growing economy and increasing disposable income, there is a growing demand for regular bicycles as a cost-effective mode of transportation. Additionally, the government's focus on promoting eco-friendly transportation and investments in infrastructure development are expected to drive the market for regular bicycles in Cambodia. However, the market growth may be hindered by the high import duties and taxes on bicycles, making them more expensive for consumers.

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.