Regular Bicycles - New Zealand | Statista Market Forecast

Revenue in the Regular Bicycles market in New Zealand is forecasted to reach US$92.19m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -4.43%, leading to a projected market volume of US$73.50m by 2029.
Unit sales in the Regular Bicycles market of New Zealand are expected to reach 152.30k bicycles in 2029.
The volume weighted average price of the Regular Bicycles market in New Zealand in 2024 is projected to be US$483.20.
Looking at it from an international standpoint, the United States is expected to 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 in New Zealand has seen a slight decline in growth due to factors such as increasing competition from e-bikes and changing consumer preferences. However, it still remains a strong market driven by the convenience and health benefits of cycling.

Customer preferences: As more people in New Zealand prioritize sustainability and eco-friendliness, there has been a growing demand for regular bicycles as a mode of transportation. This trend is further fueled by the rise of bike-sharing programs and the government's efforts to promote cycling as a healthier and greener alternative to driving. Additionally, the increasing popularity of cycling events and races in the country has also contributed to the growth of the regular bicycles market, as more individuals are taking up cycling as a hobby and form of exercise.

Trends in the market: In New Zealand, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles, with sales increasing by 87% in 2020. This trend is driven by the government's push towards sustainable transportation and the rising popularity of e-bikes as a convenient and eco-friendly mode of transportation. This trajectory is expected to continue, as the government plans to invest $6.8 million in cycling infrastructure. This presents opportunities for industry stakeholders to capitalize on the growing market for electric bicycles and cater to the changing consumer preferences towards sustainable mobility options.

Local special circumstances: In New Zealand, the Regular Bicycles Market within the Bicycles Market has been influenced by the country's strong focus on sustainability and eco-friendly transportation. This has led to a rise in demand for electric and hybrid bicycles, as well as the implementation of bike-friendly infrastructure. Additionally, the country's outdoor and adventure culture has also contributed to the popularity of mountain bikes and specialized bicycle tours, catering to tourists and locals alike. Government initiatives promoting cycling as a mode of transportation have also played a role in the growth of the Regular Bicycles Market in New Zealand.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in New Zealand is heavily influenced by macroeconomic factors such as consumer spending, government policies, and economic stability. With a growing economy and favorable trade policies, New Zealand has seen an increase in consumer spending, leading to a rise in demand for regular bicycles. Additionally, the government's focus on promoting sustainable transportation and the country's strong cycling culture have also contributed to the growth of the market. However, fluctuations in global economic trends and changes in fiscal policies can have a significant impact on the performance of the market in New Zealand.

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.