Regular Bicycles - Fiji | Statista Market Forecast

The revenue in the Regular Bicycles market of Fiji is forecasted to reach US$1.47m in 2024.
It is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -1.49%, leading to a projected market volume of US$1.36m by 2029.
The unit sales in the Regular Bicycles market of Fiji are expected to reach 4.90k bicycles in 2029.
The volume weighted average price of the Regular Bicycles market in Fiji in 2024 is expected to be US$252.50.
Looking at the international perspective, the United States is poised to generate the highest revenue in the Regular Bicycles market worldwide, 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 Fiji has seen a slight decline in growth due to factors such as limited infrastructure and lack of awareness among consumers. However, the convenience and health benefits of cycling continue to drive demand for these traditional bicycles.

Customer preferences: The regular bicycles market in Fiji has seen a rise in demand for electric bicycles, as consumers are increasingly looking for eco-friendly and efficient modes of transportation. This trend is driven by a growing awareness of the environmental impact of traditional gasoline-powered vehicles and a shift towards sustainable living. Additionally, the convenience and cost-effectiveness of electric bicycles have also contributed to their popularity among consumers. As a result, there has been a significant increase in sales of electric bicycles in Fiji in recent years.

Trends in the market: In Fiji, the Regular Bicycles Market within the Bicycles Market is seeing a shift towards eco-friendly and sustainable bicycles. With the increasing focus on environmental conservation and healthy living, consumers are gravitating towards bicycles made from sustainable materials and with energy-efficient features. This trend is expected to continue as more governments and organizations promote green transportation options. Industry stakeholders should consider incorporating sustainable practices into their production processes and marketing strategies to meet the changing consumer demands and stay competitive in the market.

Local special circumstances: In Fiji, the Regular Bicycles Market within the Bicycles Market is influenced by the country's unique geography and cultural practices. The archipelago's rugged terrain and small island communities limit the demand for traditional bicycles, resulting in a smaller market size compared to other markets. Additionally, cultural preferences for motorized transportation and limited infrastructure for cycling infrastructure also impact the market. However, the government's efforts to promote eco-tourism and sustainable transportation may lead to a potential increase in demand for regular bicycles in Fiji.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market is impacted by macroeconomic factors such as economic stability, consumer spending, government policies, and trade agreements. Countries with a strong economic outlook and consumer purchasing power are likely to experience higher demand for regular bicycles. Additionally, favorable government policies and trade agreements that promote sustainable transportation and promote the use of bicycles can also positively impact the market. On the other hand, economic downturns and trade barriers can hinder market growth. Furthermore, increasing environmental awareness and the need for affordable transportation in developing countries are also contributing 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.