Regular Bicycles - Indonesia | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Indonesia is forecasted to reach US$185.00m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -3.63%, leading to a projected market volume of US$153.80m by 2029.
By 2029, unit sales in the Regular Bicycles market of Indonesia are expected to reach 1.04m bicycles.
The volume weighted average price of Regular Bicycles market in Indonesia in 2024 is expected to be US$153.70.
It is noted from an international perspective that the United States is projected 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 Indonesia is facing minimal decline in growth rate due to factors such as increasing competition from e-bikes, changing consumer preferences, and limited government support for the industry. Despite this, the market is expected to continue growing, driven by the country's growing population and rising interest in fitness and eco-friendly transportation options.

Customer preferences: Consumers in Indonesia are increasingly gravitating towards eco-friendly and sustainable products, including bicycles. This trend is driven by a growing awareness of environmental issues and a desire for healthier and more active lifestyles. As a result, the market for regular bicycles has seen a significant uptick in demand, with consumers seeking out high-quality and durable options. Additionally, with the rise of e-commerce and online shopping, there has been a shift towards purchasing bicycles online, providing convenience and a wider range of options for consumers.

Trends in the market: In Indonesia, the Regular Bicycles Market within the Bicycles Market is seeing a shift towards more eco-friendly and sustainable options. This trend is driven by a growing awareness of the environmental impact of traditional bicycles, as well as government initiatives promoting green transportation. This has led to an increase in demand for electric and hybrid bicycles, as well as a rise in the use of bike-sharing services. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in new technologies to stay competitive in the market.

Local special circumstances: In Indonesia, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's geography, with its thousands of islands and diverse terrain. This has led to the popularity of folding and hybrid bicycles that are suitable for both urban and rural areas. Additionally, the cultural preference for eco-friendly transportation has also contributed to the growth of the market. However, strict regulations on bicycle safety and road traffic have posed challenges for the market, leading to the emergence of bike-sharing services as a popular alternative.

Underlying macroeconomic factors: The growth of the Regular Bicycles Market within the Bicycles Market is heavily influenced by macroeconomic factors such as consumer disposable income, population growth, and government policies promoting sustainable transportation. Countries with strong economic growth and a growing middle class are likely to see a higher demand for regular bicycles as a cost-effective means of transportation. Additionally, government initiatives promoting cycling infrastructure and reducing carbon emissions are driving the market growth in environmentally conscious countries. Moreover, a shift towards healthy and active lifestyles is also contributing to the demand for regular bicycles in 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.