Regular Bicycles - Dominican Republic

In 2024, revenue in the Regular Bicycles market in the Dominican Republic is forecasted to reach US$39.13m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.59%, leading to a projected market volume of US$40.30m by 2029.
By 2029, unit sales in the Regular Bicycles market are expected to reach 118.60k bicycles.
The volume-weighted average price of Regular Bicycles market in the Dominican Republic in 2024 is expected to be US$291.10.
It is evident from an international standpoint that the United States will generate the highest revenue in the Regular Bicycles market, 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 the Dominican Republic has seen a slight decline due to factors such as low consumer awareness and limited access to online services. This has resulted in a negligible growth rate for the market, despite the overall growth of the Bicycles Market in the country.

Customer preferences: There has been a notable increase in demand for regular bicycles among consumers in the Dominican Republic, driven by a cultural preference for outdoor activities and a growing interest in sustainable transportation options. Additionally, with the rise of eco-tourism and a focus on environmental conservation, there has been a surge in demand for bicycles as a means of exploring the country's natural landscapes. This trend is further supported by a shift towards healthier and more active lifestyles among the country's younger population.

Trends in the market: In the Dominican Republic, the Regular Bicycles Market within the Bicycles Market is experiencing a rising demand for electric bicycles. This trend is driven by the government's efforts to promote sustainable transportation and reduce air pollution. Additionally, there is a growing interest in cycling as a form of exercise and leisure activity. This trend is expected to continue, with potential implications for industry stakeholders such as bike manufacturers, retailers, and rental companies. The adoption of electric bicycles could open up new opportunities for these stakeholders, while also posing challenges in terms of infrastructure and regulations.

Local special circumstances: In the Dominican Republic, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's unique geography and culture. The country's mountainous terrain and warm climate make it a popular destination for outdoor activities, leading to a high demand for regular bicycles. Additionally, the government has implemented initiatives to promote cycling as a sustainable mode of transportation, further driving the growth of the market.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in the Dominican Republic is influenced by various macroeconomic factors. The country's economic health and fiscal policies play a significant role in shaping the market's performance. For instance, a stable economy with high disposable income and favorable regulatory policies can lead to an increase in demand for regular bicycles. On the other hand, a struggling economy with low consumer spending and restrictive regulations can hinder market growth. Additionally, global economic trends, such as fluctuations in exchange rates and shifts in consumer preferences, can also impact the regular bicycles market in the Dominican Republic.

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.