Regular Bicycles - Romania | Statista Market Forecast

Revenue in the Regular Bicycles market in Romania is forecasted to reach US$178.00m in 2024.
This projection anticipates an annual growth rate (CAGR 2024-2029) of -2.22%, leading to a projected market volume of US$159.10m by 2029.
Unit sales in the Regular Bicycles market are expected to hit 332.10k bicycles in 2029.
The volume-weighted average price in the Regular Bicycles market in Romania is expected to be US$464.40 in 2024.
When looking at the international perspective, the United States is poised to generate the highest revenue, with 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

In Romania, the Bicycles Market is facing a slow growth rate due to factors such as low consumer awareness and the preference for traditional bicycles. However, with the increasing adoption of digital technologies and rising health consciousness, the Regular Bicycles Market is expected to experience a boost in the coming years. Online health services are also expected to contribute to the convenience and growth of this market.

Customer preferences: In Romania, there has been a noticeable increase in demand for regular bicycles as consumers prioritize environmentally friendly modes of transportation. This trend is driven by a growing awareness of the negative impact of carbon emissions and a desire for more sustainable options. Additionally, there has been a rise in the popularity of cycling as a form of exercise and leisure activity, particularly among the younger demographic. This shift towards a healthier and more eco-conscious lifestyle is expected to continue driving the growth of the Regular Bicycles Market within the Bicycles Market in Romania.

Trends in the market: In Romania, the Regular Bicycles Market within the Bicycles Market is experiencing a trend towards electric bicycles, with a focus on sustainability and eco-friendliness. This trend is driven by the increasing concerns for the environment and a growing interest in alternative transportation methods. As a result, industry stakeholders are investing in research and development to improve the technology and performance of electric bicycles. This trend is likely to continue, with potential implications for traditional bicycle manufacturers who may need to adapt their production to meet the demand for electric bicycles. Additionally, there is a growing market for bike-sharing services, providing an opportunity for industry players to expand their offerings and reach a wider customer base.

Local special circumstances: In Romania, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's geographical landscape, with its diverse terrain ranging from flat plains to mountainous regions. This has led to a demand for specialized bicycles, such as mountain bikes and city bikes. Additionally, the cultural preference for outdoor activities and the government's investment in cycling infrastructure have also contributed to the growth of the market. Furthermore, the strict regulations on car emissions have also led to a rise in the popularity of bicycles as a means of transportation, further driving the demand for regular bicycles in the market.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Romania is influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. The country's stable economic growth, along with rising disposable incomes, has led to an increase in demand for regular bicycles. Additionally, government initiatives promoting eco-friendly transportation and the implementation of bicycle-friendly infrastructure have also contributed to the growth of the market. Furthermore, the growing trend of health and fitness consciousness among consumers has also led to a rise in demand for regular bicycles. These factors have positively impacted the market, making Romania a lucrative market for regular 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.