Regular Bicycles - Denmark | Statista Market Forecast

The Regular Bicycles market in Denmark is projected to reach a revenue of US$181.10m in 2024.
This reflects an expected annual growth rate (CAGR 2024-2029) of -3.24%, leading to a projected market volume of US$153.60m by 2029.
By 2029, unit sales in the Regular Bicycles market are expected to reach 201.00k bicycles.
The volume weighted average price of Regular Bicycles market in Denmark in 2024 is anticipated to amount to US$724.10.
It is evident from an international perspective that the United States will generate the most revenue in the Regular Bicycles market, with 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

In Denmark, the Regular Bicycles Market within the Bicycles Market is experiencing a negligible decline in growth rate. This can be attributed to factors such as changing consumer preferences, increasing popularity of alternative modes of transportation, and the emergence of e-bikes. Despite this, the market is still driven by the convenience and health benefits offered by bicycles.

Customer preferences: Consumers in Denmark are showing a growing preference for eco-friendly and sustainable options when it comes to regular bicycles. This can be attributed to the country's strong commitment to environmental conservation and the increasing awareness about the impact of transportation on the planet. Additionally, there is a growing trend towards using bicycles as a mode of transportation for daily commutes, driven by the desire for a healthier and more active lifestyle. This has led to a rise in demand for bicycles with features such as lightweight frames, electric assist, and advanced gear systems.

Local special circumstances: In Denmark, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's strong cycling culture and well-developed cycling infrastructure. This has led to a high demand for quality bicycles and accessories. Additionally, the government's focus on sustainability and reducing carbon emissions has further boosted the market. The country's flat terrain and compact size also make it ideal for cycling, leading to a high adoption rate among the population. Furthermore, the popularity of cycling as a mode of transportation has spurred the growth of the electric bicycle segment, catering to the needs of commuters.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Denmark is heavily impacted by macroeconomic factors such as the country's economic stability, consumer purchasing power, and government policies. Denmark has a strong economy with a high GDP per capita and low unemployment rates, which supports the growth of the Regular Bicycles Market. Additionally, the government's investment in sustainable transportation and infrastructure development has boosted the demand for bicycles in the country. Furthermore, the increasing focus on healthy and eco-friendly lifestyles among Danish consumers has also contributed to the growth of the Regular Bicycles Market.

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.