Regular Bicycles - Lebanon | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Lebanon is forecasted to reach US$3.50m.
This projection anticipates an annual growth rate (CAGR 2024-2029) of -5.52%, leading to a market volume of US$2.64m by 2029.
Unit sales in the Regular Bicycles market are expected to reach 17.04k bicycles in 2029.
The volume weighted average price of Regular Bicycles market in Lebanon is estimated to be US$158.20 in 2024.
Internationally, the United States is poised to generate the highest revenue in the market, 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 Lebanon is facing a subdued decline in growth rate, impacted by factors such as economic instability and shifting consumer preferences towards motorized transportation. Despite this, the market is expected to continue growing due to the convenience and cost-effectiveness of bicycles as a mode of transportation.

Customer preferences: In Lebanon, the Regular Bicycles Market within the Bicycles Market has seen a rise in demand for electric bicycles, as consumers prioritize eco-friendly transportation options. This trend is driven by a growing awareness of environmental issues and a desire for more sustainable modes of transportation. Additionally, with increasing traffic congestion and rising fuel prices, electric bicycles offer a convenient and cost-effective solution for daily commuting. This shift towards greener transportation options is also influenced by a cultural emphasis on health and wellness, as electric bicycles provide a low-impact form of exercise.

Trends in the market: In Lebanon, the Regular Bicycles Market within the Bicycles Market is experiencing a shift towards electric bicycles. This trend is driven by the government's efforts to promote sustainable transportation and reduce air pollution. Additionally, there is a growing interest among consumers in adopting eco-friendly modes of transportation. This trend is expected to continue in the coming years, with potential implications for industry stakeholders such as manufacturers, retailers, and service providers. They may need to adapt their strategies to cater to the growing demand for electric bicycles and invest in infrastructure to support this shift.

Local special circumstances: In Lebanon, the Regular Bicycles market is heavily influenced by the country's unique cultural and geographical factors. With a hilly terrain and a strong cycling culture, the demand for lightweight and durable bicycles is high. Additionally, government initiatives promoting eco-friendly transportation and the popularity of cycling as a leisure activity also contribute to the growth of the market. These factors set Lebanon apart from other markets, creating a niche for Regular Bicycles and driving market dynamics.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Lebanon is influenced by macroeconomic factors such as consumer spending power, government policies on transportation, and overall economic stability. With a growing middle class and increasing disposable incomes, there is a higher demand for regular bicycles as a means of affordable transportation. Additionally, government initiatives to promote sustainable transportation and reduce air pollution have also contributed to the growth of the regular bicycles market. However, economic challenges such as inflation and currency fluctuations can impact consumer purchasing power and affect market performance.

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.