Regular Bicycles - Iran | Statista Market Forecast

The Regular Bicycles market in Iran is anticipated to achieve a revenue of US$68.32m by 2024.
This reflects an estimated annual growth rate (CAGR 2024-2029) of 0.52%, leading to a projected market volume of US$70.10m by 2029.
In 2029, unit sales in the Regular Bicycles market are forecasted to reach 362.40k bicycles.
The volume weighted average price of Regular Bicycles market in Iran is expected to be US$172.90 in 2024.
It is highlighted from a global viewpoint that the United States will generate the highest revenue, 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 Iran has seen a slight decline in growth due to various factors, including decreased consumer interest and limited accessibility. Despite this, the market remains stable due to the established demand for traditional bicycles in the country.

Customer preferences: There has been a noticeable increase in the popularity of electric bicycles in Iran, particularly among urban dwellers. This can be attributed to the growing concern for environmental sustainability and the need for efficient and cost-effective transportation options. Additionally, the rise of e-commerce and online shopping has led to a surge in demand for delivery services, creating a new market for electric bicycles as a means of transportation for delivery workers.

Trends in the market: In Iran, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles, driven by rising concerns over air pollution and traffic congestion. This trend has led to the introduction of government subsidies for electric bicycles, making them more affordable for consumers. Additionally, there is a growing interest in sustainable transportation, with more companies investing in the development of eco-friendly bicycles. This trend is expected to continue in the coming years, posing potential opportunities for industry players to tap into this growing market.

Local special circumstances: In Iran, the Regular Bicycles Market within the Bicycles Market is driven by cultural norms and regulations. The country has a strong cycling culture, with many Iranians using bicycles as their primary mode of transportation. This, coupled with government initiatives to promote cycling as a sustainable and healthy mode of transportation, has led to a steady demand for regular bicycles. However, strict regulations on imports and foreign brands have limited the variety of bicycles available in the market, leading to a dominance of domestic brands. Additionally, the country's geography, with its mountainous terrain, has also influenced the demand for specific types of regular bicycles, such as mountain bikes, in certain regions.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Iran is impacted by macroeconomic factors such as the country's economic health, fiscal policies, and global economic trends. Iran's recent economic growth and increased government investments in infrastructure have led to a rise in demand for bicycles, including regular bicycles. However, fluctuations in oil prices and trade sanctions imposed by other countries have affected the purchasing power of consumers, potentially hindering market growth. Furthermore, the country's high inflation rate and limited access to credit may also impact the affordability of bicycles for consumers.

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.