Regular Bicycles - North America | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in North America is forecasted to reach US$8.21bn.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -0.67%, leading to a projected market volume of US$7.94bn by 2029.
By 2029, unit sales in the Regular Bicycles market are expected to reach 22.86m bicycles.
The volume weighted average price of Regular Bicycles market in the market in 2024 is expected to be US$357.40.
Internationally, the United States is projected to generate the highest revenue in the market, with US$7bn in 2024.
In North America, the Regular Bicycles market is experiencing a surge in demand due to increased focus on outdoor activities post-pandemic.

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

In recent years, the Regular Bicycles Market within the Bicycles Market in North America has seen minimal growth, influenced by factors such as declining interest in traditional bicycles and increasing competition from electric bikes. However, the market is expected to bounce back with the growing trend of eco-friendly transportation and the emergence of innovative bike-sharing programs.

Customer preferences: With the rise of eco-consciousness and sustainable living, there has been a growing preference for regular bicycles among North American consumers. This trend is also fueled by the increasing popularity of cycling as a form of exercise and transportation. Additionally, the demand for electric bikes has also seen a significant uptick, as consumers look for more efficient and eco-friendly options for their daily commute. This shift towards environmentally-friendly and healthier transportation alternatives is likely to continue driving the growth of the Regular Bicycles Market within the Bicycles Market in North America.

Trends in the market: In North America, the Regular Bicycles market is experiencing a surge in demand for electric bicycles, with consumers seeking eco-friendly transportation options. Additionally, there is a growing interest in bike sharing programs, as cities prioritize sustainable mobility solutions. These trends indicate a shift towards more sustainable and convenient modes of transportation, which could have significant implications for bike manufacturers and retailers. As the market for electric and shared bicycles continues to grow, companies may need to adapt their product offerings and business models to stay competitive in this evolving industry.

Local special circumstances: In North America, the Regular Bicycles market is heavily influenced by the region's strong cycling culture and infrastructure, with cities like Portland and Minneapolis being known for their bike-friendly urban planning. Additionally, stringent safety regulations and consumer preferences for environmentally-friendly transportation have contributed to the market's growth. In contrast, markets in Europe and Asia are more driven by government initiatives promoting cycling as a sustainable mode of transportation, while the market in South America is heavily influenced by the region's economic conditions and consumer preferences for affordable transportation options.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in North America is shaped by various macroeconomic factors, including the overall economic trends and health of the region, as well as fiscal policies and financial indicators. The market growth is largely influenced by consumer spending and disposable income, as well as government initiatives and regulations that promote the use of bicycles for transportation and recreation. Moreover, the increasing focus on sustainability and environmental concerns is also driving the demand for regular bicycles in the region, as consumers look for eco-friendly and cost-effective transportation options. Additionally, the rising popularity of cycling as a form of exercise and leisure activity is contributing to the growth of the market in North America.

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.