Regular Bicycles - Eastern Asia | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Eastern Asia is forecasted to reach US$1.65bn.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -4.97%, leading to a projected market volume of US$1.28bn by 2029.
By 2029, unit sales in the Regular Bicycles market are expected to reach 10.73m bicycles.
The volume weighted average price of Regular Bicycles market in Eastern Asia in 2024 is projected to be US$112.60.
When considering the international landscape, the United States is poised to generate the highest revenue in the Regular Bicycles market, with US$7bn expected in 2024.
In Eastern Asia, the Regular Bicycles market is experiencing a surge in demand driven by a growing interest in eco-friendly transportation options.

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 Eastern Asia is experiencing a subdued decline in growth rate due to factors such as changing consumer preferences and increasing competition from e-bikes. Despite this, the market is still driven by the convenience and health benefits offered by traditional bicycles.

Customer preferences: With a growing emphasis on sustainability and eco-friendliness, consumers in Eastern Asia are increasingly turning to regular bicycles as a means of transportation. This trend is particularly evident among younger generations who prioritize reducing their carbon footprint. Additionally, the rise of bike-sharing programs in urban areas has made regular bicycles a more accessible and affordable option for daily commuting. This shift towards more environmentally-friendly modes of transportation is also reflective of a larger cultural shift towards a more sustainable lifestyle.

Trends in the market: In Eastern Asia, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles, with consumers increasingly looking for eco-friendly and convenient transportation options. This trend is expected to continue, driven by government initiatives to promote sustainable transportation and the growing popularity of e-bike sharing programs. As a result, there is a rising demand for high-quality e-bikes and related accessories, creating new opportunities for industry players to expand their product offerings and tap into this growing market segment. Additionally, the adoption of digital technology in the Regular Bicycles Market is on the rise, with the use of smart bikes and bike-sharing apps gaining traction. This trend is expected to continue in the future, as these technologies offer convenient and efficient solutions for consumers, while also providing valuable data for businesses to improve their services. Overall, these trends signify a shift towards a more sustainable and connected transportation landscape in Eastern Asia, with potential implications for industry stakeholders to adapt and innovate in order to stay competitive in the market.

Local special circumstances: In Eastern Asia, the Regular Bicycles Market within the Bicycles Market has been heavily influenced by the region's high population density and urbanization. In countries like China and Japan, where space is limited and traffic congestion is a major issue, bicycles have become a popular mode of transportation. Additionally, government initiatives promoting eco-friendly transportation and health-conscious lifestyles have further boosted the demand for regular bicycles in this region. In contrast, other markets may not have these same driving forces, leading to different market dynamics.

Underlying macroeconomic factors: The growth of the Regular Bicycles Market within the Bicycles Market is also influenced by macroeconomic factors such as consumer purchasing power, government policies, and economic stability. Countries with a strong economy and favorable government policies that promote cycling as a mode of transportation are experiencing faster market growth. Additionally, the increasing awareness about health and environmental benefits of cycling among consumers is driving the demand for regular bicycles in Eastern Asia.

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.