Regular Bicycles - Laos | Statista Market Forecast

Revenue in the Regular Bicycles market of Laos is forecasted to reach US$2.98m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -4.06%, leading to a projected market volume of US$2.42m by 2029.
Unit sales in the Regular Bicycles market are expected to hit 15.38k bicycles in 2029.
The volume-weighted average price of Regular Bicycles market in 2024 is projected to be US$156.10.
From a global perspective, it is evident that the highest revenue will be generated the United States (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 Bicycles Market in Laos has seen a minimal decline in growth rate, impacted by factors such as limited infrastructure and low purchasing power. Despite this, the market is still driven by increasing adoption of bicycles, rising health awareness, and the convenience of cycling for transportation.

Customer preferences: The Regular Bicycles Market in Laos is experiencing a rise in demand for eco-friendly and sustainable transportation options, driven by growing environmental awareness and a desire for healthier lifestyles. Additionally, the younger generation is increasingly adopting cycling as a means of transportation, leading to a surge in demand for affordable and lightweight bicycles. The shift towards environmentally-friendly and budget-friendly options is also fueled by the rising popularity of bike-sharing programs, which provide convenient and cost-effective solutions for short-distance trips.

Trends in the market: In Laos, the Regular Bicycles Market within the Bicycles Market is experiencing a shift towards electric bicycles, with a growing demand for eco-friendly transportation solutions. This trend is driven by government initiatives to reduce carbon emissions and promote sustainable transportation. As a result, industry stakeholders are investing in research and development to improve the performance and affordability of electric bicycles. This trend is expected to continue, with potential implications for the traditional bicycle market, as well as opportunities for new players to enter the market with innovative electric bicycle designs.

Local special circumstances: In Laos, the Regular Bicycles Market is heavily influenced by the country's mountainous terrain, which makes mountain bikes and other heavy-duty bicycles more popular. Additionally, the cultural preference for manual labor and physical activity also drives demand for traditional bicycles. The lack of regulations and infrastructure for motorized vehicles further solidifies the dominance of bicycles in the market. This unique combination of geographical, cultural, and regulatory factors sets the Regular Bicycles Market in Laos apart from other markets, creating a distinct demand and supply landscape.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Laos is influenced by macroeconomic factors such as the country's economic growth, investment in infrastructure, and government policies. Laos has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has positively impacted the demand for regular bicycles as a mode of transportation and leisure activity. Additionally, the government's push for sustainable development and eco-tourism has also contributed to the growth of the regular bicycles market. This trend is expected to continue as the country continues to invest in its infrastructure and promote sustainable transportation options.

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.