Regular Bicycles - Europe | Statista Market Forecast

Revenue in the Regular Bicycles market in Europe is forecasted to reach US$8.57bn in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -2.12%, leading to a projected market volume of US$7.70bn by 2029.
Unit sales in the Regular Bicycles market are expected to hit 13.34m bicycles by 2029.
The volume weighted average price of Regular Bicycles market in the market in 2024 is projected to be US$579.80.
It is evident from a global perspective that the United States will generate the highest revenue (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 Europe is facing a minimal decline in growth rate due to factors such as saturation in the market and economic uncertainties.

Customer preferences: The Regular Bicycles Market in Europe is experiencing a rise in demand for eco-friendly and sustainable transportation options. This trend is driven by a growing awareness of the environmental impact of traditional modes of transportation, as well as a shift towards healthier and more active lifestyles.
Local special circumstances: In Europe, the Regular Bicycles Market is heavily influenced by the region's strong cycling culture and well-developed cycling infrastructure. This has led to a high demand for advanced and specialized bicycles, such as cargo and folding bikes. Furthermore, strict emission regulations and government initiatives promoting sustainable transportation have also contributed to the growth of the market. Additionally, the popularity of cycling as a recreational activity and increased interest in outdoor sports have further bolstered the market in Europe.

Underlying macroeconomic factors: The Regular Bicycles Market is greatly impacted by macroeconomic factors such as consumer spending, disposable income, and economic stability. Countries with strong economies and high levels of consumer confidence tend to have higher demand for regular bicycles, as consumers are more likely to make discretionary purchases. Additionally, fiscal policies such as tax incentives for eco-friendly transportation and investments in bike infrastructure can also stimulate market growth. However, economic downturns and uncertain economic conditions can lead to a decrease in consumer spending and negatively impact the 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.