Regular Bicycles - NAFTA | Statista Market Forecast

Revenue in the Regular Bicycles market within NAFTA is forecasted to achieve US$8.21bn by 2024.
The revenue is poised to exhibit an annual growth rate (CAGR 2024-2029) of -0.67%, leading to an estimated market volume of US$7.94bn by 2029.
The unit sales in the Regular Bicycles market are projected to hit 22.86m bicycles by 2029.
The volume weighted average price of Regular Bicycles market in 2024 is anticipated to be US$357.40.
It is evident from a global standpoint that the highest revenue will be generated the United States ( US$7bn in 2024) within NAFTA.

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 within the Bicycles Market in NAFTA nan has seen minimal growth due to factors such as saturation in the market, lack of innovation, and changing consumer preferences. Despite the convenience and health benefits of regular bicycles, the slow growth rate can be attributed to the increasing popularity of e-bikes and other alternative modes of transportation.

Customer preferences: In the Regular Bicycles Market within the Bicycles Market, there is a growing trend towards eco-friendly and sustainable options, with consumers becoming more conscious of their carbon footprint. This has led to an increase in demand for electric bicycles, which offer a greener transportation alternative. Additionally, there is a rise in the popularity of bike-sharing programs, particularly in urban areas, as consumers look for affordable and convenient ways to commute. This shift towards sustainable and convenient transportation options is also influenced by the growing concern for the environment and the desire for a healthier lifestyle.

Trends in the market: In the NAFTA region, the Regular Bicycles Market within the Bicycles Market is experiencing a trend towards electric bicycles, with an increasing number of manufacturers and retailers offering these eco-friendly options. This trend is driven by rising concerns about climate change and a growing interest in sustainable transportation. As a result, the market for electric bicycles is expected to grow significantly in the coming years. This has significant implications for industry stakeholders, as they will need to adapt to this shift and invest in the production and marketing of electric bicycles to remain competitive in the market. Furthermore, this trend also presents opportunities for collaboration and partnerships between traditional bicycle manufacturers and new players in the electric bicycle space, creating a more diverse and innovative market.

Local special circumstances: In Mexico, the Regular Bicycles Market within the Bicycles Market is thriving due to the country's strong cycling culture and government initiatives promoting eco-friendly transportation. The market has also seen a rise in electric bicycles, catering to the growing demand for sustainable mobility solutions. In Canada, the market is driven by the increasing popularity of cycling as a mode of transportation and the government's investments in cycling infrastructure. This has led to the growth of bike-sharing programs and the emergence of innovative bike designs, such as foldable and electric bicycles.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market is impacted by macroeconomic factors such as consumer spending, income levels, and government policies. Countries with a strong economy and high disposable income tend to have a higher demand for regular bicycles, as they are often seen as a luxury item. In contrast, countries with weaker economies and lower income levels may see a decrease in demand for regular bicycles. Government policies, such as tariffs and trade agreements, can also have a significant impact on the import and export of regular bicycles, affecting market growth and profitability. Additionally, global economic trends, such as fluctuations in currency exchange rates, can also impact the regular bicycles market, as it can affect the cost of production and pricing of the bicycles.

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.