Regular Bicycles - Worldwide | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market worldwide is forecasted to reach US$25.86bn.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -0.85%, leading to a projected market volume of US$24.78bn by 2029.
The unit sales in the Regular Bicycles market are expected to hit 84.36m bicycles by 2029.
The volume weighted average price of Regular Bicycles market in the market is expected to be US$288.70 in 2024.
It is evident from an international standpoint that the United States will generate the most 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 has been facing a slight decline in growth rate due to factors such as changing consumer preferences and increasing competition from alternative modes of transportation. However, the convenience and health benefits offered by regular bicycles continue to drive demand in the Bicycles Market worldwide.

Customer preferences: As the demand for sustainable transportation options continues to grow, consumers are increasingly opting for regular bicycles as a means of reducing their carbon footprint. This trend is further fueled by a growing awareness of the health benefits of cycling and a desire for more active lifestyles. Furthermore, the rise of urbanization and the need for efficient and cost-effective modes of transportation are also contributing to the popularity of regular bicycles in the global market.

Local special circumstances: In the Regular Bicycles Market, the European market is heavily influenced by cultural factors such as a strong cycling culture and government initiatives promoting eco-friendly transportation. In contrast, the North American market is driven by a higher demand for recreational bicycles and a more car-centric culture. In Asia, the market is shaped by a combination of factors, including high population density, government investments in infrastructure, and a growing awareness of the health benefits of cycling.

Underlying macroeconomic factors: The Regular Bicycles Market is affected by macroeconomic factors such as consumer spending, disposable income, and economic growth. Countries with strong economic growth and high disposable income are witnessing a rise in demand for expensive regular bicycles, especially among urban populations. Additionally, favorable government policies promoting sustainable transportation and increasing health awareness are also contributing to the market growth. On the other hand, countries with economic instability and low disposable income may experience slower market growth due to reduced consumer spending.

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.