Regular Bicycles - Croatia | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Croatia is forecasted to reach US$90.33m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -3.02%, leading to a projected market volume of US$77.50m by 2029.
The unit sales in the Regular Bicycles market are expected to reach 197.60k bicycles in 2029.
The volume weighted average price of Regular Bicycles market in the market in 2024 is expected to be US$381.00.
Internationally, the United States is poised to generate the highest revenue in the market, with US$7bn projected 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 Croatia has seen a slight decline in growth rate due to factors such as the rise of electric bikes and the decreasing popularity of traditional bicycles. However, the market is still driven by the convenience and health benefits offered by cycling.

Customer preferences: With the growing emphasis on sustainable transportation, consumers in Croatia are increasingly opting for regular bicycles as a convenient and eco-friendly mode of transportation. Moreover, the rising popularity of cycling as a leisure activity has led to a surge in demand for regular bicycles among all age groups. This trend is further fueled by the country's bike-friendly infrastructure and the cultural preference for outdoor activities. Additionally, the shift towards a more active and healthy lifestyle has also contributed to the growing demand for regular bicycles in Croatia.

Trends in the market: In Croatia, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles. This trend is driven by increasing awareness of environmental sustainability and a desire for convenient and cost-effective transportation. As a result, manufacturers are expanding their product lines to include more electric bicycles, and retailers are offering rental and sharing services. This trend is expected to continue, with potential implications for stakeholders such as increased competition and potential regulatory changes for electric bicycles.

Local special circumstances: In Croatia, the Regular Bicycles Market has unique geographical factors that contribute to its growth. With a coastline along the Adriatic Sea, the country has a strong tourism industry, leading to a high demand for rental bicycles. Additionally, the country's mountainous terrain makes it popular for mountain biking, driving the sales of specialized bicycles. Furthermore, the government's focus on sustainable transportation and the growing popularity of cycling as a recreational activity have also contributed to the growth of the Regular Bicycles Market in Croatia.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Croatia is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and economic stability. Favorable economic conditions, such as low unemployment rates and increasing GDP, encourage consumers to invest in bicycles for leisure and transportation purposes. Additionally, government initiatives promoting sustainable transportation and healthy lifestyles are driving the demand for regular bicycles, further contributing to market growth. On the other hand, economic downturns and fluctuating exchange rates can negatively impact consumer purchasing power and affect market performance.

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.