Regular Bicycles - Kazakhstan | Statista Market Forecast

Revenue in the Regular Bicycles market in Kazakhstan is forecasted to reach US$53.40m by 2024.
This projection indicates an expected annual growth rate (CAGR 2024-2029) of 1.19%, leading to a projected market volume of US$56.64m by 2029.
The unit sales in the Regular Bicycles market are anticipated to hit 225.90k bicycles by 2029.
The volume weighted average price of Regular Bicycles market in the market is projected to be US$205.80 in 2024.
When looking at the international perspective, it is evident that the United States will generate the most revenue, with 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 Kazakhstan is facing negligible growth, influenced by factors such as limited consumer awareness and preference for traditional bicycles. Despite this, the market is expected to grow gradually due to the increasing popularity of cycling as a mode of transportation.

Customer preferences: In Kazakhstan, there has been a noticeable increase in demand for regular bicycles as a mode of transportation due to the growing concern for environmental sustainability and the desire for a more active lifestyle. This trend is reinforced by the government's initiatives to promote cycling as a means of reducing air pollution and improving public health. Additionally, with the rise of e-commerce and online shopping, consumers have shown a preference for purchasing bicycles and related accessories online, further driving the growth of the regular bicycles market.

Trends in the market: In Kazakhstan, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles. This trend is driven by the country's efforts to promote sustainable transportation and reduce carbon emissions. Additionally, there is a growing interest in bike-sharing programs, with major cities implementing such systems. These trends are significant as they indicate a shift towards environmentally friendly and cost-effective transportation options. For industry stakeholders, this presents opportunities for collaboration and investment in the development of innovative electric bicycles and bike-sharing infrastructure. However, it may also pose challenges for traditional bicycle manufacturers, who may need to adapt their production processes to meet the changing market demands.

Local special circumstances: In Kazakhstan, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's vast, rugged terrain and nomadic culture. Due to the country's harsh climate and long distances between settlements, bicycles are a popular mode of transportation for both urban and rural populations. Additionally, the government's focus on promoting a healthy lifestyle has led to an increase in demand for regular bicycles, especially among the younger generation. This unique combination of factors has created a strong market for regular bicycles in Kazakhstan.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Kazakhstan is heavily influenced by macroeconomic factors such as the overall economic health of the country, government policies and regulations, and investment in infrastructure. Countries with stable economies and favorable policies for the bicycle market are experiencing higher demand and growth compared to those with economic instability and limited government support. Additionally, the growing awareness of the benefits of cycling for health and the environment is driving the demand for regular bicycles in Kazakhstan.

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.