Regular Bicycles - Finland | Statista Market Forecast

Revenue in the Regular Bicycles market in Finland is forecasted to reach US$71.48m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -3.33%, leading to a projected market volume of US$60.36m by 2029.
Unit sales in the Regular Bicycles market are expected to hit 176.30k bicycles in 2029.
The volume weighted average price of Regular Bicycles market in the market in Finland in 2024 is projected to be US$339.00.
Looking at the global perspective, it is evident 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 Finland has seen a steady decline in growth due to factors such as the emergence of e-bikes, changing consumer preferences, and increasing competition from online retailers. Despite this, the market is still expected to experience moderate growth due to the country's strong cycling culture and government initiatives promoting sustainable transportation.

Customer preferences: The Regular Bicycles Market within the Bicycles Market in Finland has seen a rise in demand for electric bicycles, driven by the increasing focus on sustainability and eco-friendly transportation. This trend is also fueled by the growing popularity of e-bikes among older demographics, as they offer a more accessible form of physical activity. Additionally, the emergence of bike-sharing programs and the integration of e-bikes into these services has made it easier for consumers to adopt this mode of transportation.

Local special circumstances: In Finland, the Regular Bicycles Market is heavily influenced by the country's long-standing cycling culture and its commitment to sustainable transportation. The government's policies and investments in cycling infrastructure have also played a significant role in the market's growth. Additionally, the country's cold climate has led to the development of specialized bicycles and gear, catering to the unique needs of Finnish cyclists. These factors have contributed to the strong demand for regular bicycles in Finland, setting it apart from other markets.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Finland is also affected by macroeconomic factors such as consumer spending, economic stability, and government policies. A strong and stable economy with low unemployment rates and high disposable income levels can lead to increased demand for bicycles, including regular bicycles, as consumers have more disposable income to spend on leisure activities. Additionally, government initiatives promoting sustainable transportation and investments in cycling infrastructure can also positively impact the market by encouraging more people to adopt bicycles as a mode of transportation. On the other hand, economic downturns and unstable economic conditions can lead to a decrease in consumer spending and negatively affect 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.