Regular Bicycles - Russia | Statista Market Forecast

In 2024, revenue in the Regular Bicycles market in Russia is forecasted to reach US$288.30m.
This projection anticipates an annual growth rate (CAGR 2024-2029) of 13.61%, leading to an estimated market volume of US$545.60m by 2029.
By 2029, unit sales in the Regular Bicycles market in Russia are expected to reach 1.07m bicycles.
The volume-weighted average price of Regular Bicycles market in Russia is forecasted to be US$500.10 in 2024.
When looking at the international perspective, it is evident that the United States will generate the most revenue in the Regular Bicycles market, amounting to US$7bn in 2024.
In Russia, the demand for Regular Bicycles is steadily increasing, reflecting a growing interest in sustainable transportation options among consumers.

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 Russia has seen minimal growth due to factors such as low consumer awareness and limited availability of online services. Despite this, the market continues to grow slowly due to increasing adoption of digital technologies and rising interest in health and fitness.

Customer preferences: The popularity of electric and hybrid bicycles is on the rise in Russia, as consumers are increasingly seeking environmentally friendly and cost-effective transportation options. This trend is also driven by the growing concern for air pollution and the desire for a healthier lifestyle. Additionally, the use of bicycles for commuting and leisure activities is gaining traction among the younger demographic, reflecting a shift towards more sustainable and active modes of transportation.

Trends in the market: In Russia, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles. This trend is driven by the increasing popularity of eco-friendly transportation options and the government's initiatives to promote clean energy. Additionally, there is a growing trend of subscription-based bike sharing services, providing affordable and convenient access to bicycles for urban commuters. This trajectory is significant as it addresses the issue of traffic congestion and promotes a healthier lifestyle. Industry stakeholders can capitalize on this trend by investing in electric bicycle production and developing innovative bike sharing models.

Local special circumstances: In Russia, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's vast geographical landscape, with long distances between cities and a harsh climate. This has led to the development of specialized bicycles, such as fat bikes, designed for off-road riding and extreme weather conditions. Additionally, the cultural preference for outdoor activities and the government's efforts to promote a healthier lifestyle have also contributed to the growth of the Regular Bicycles Market in Russia.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Russia is affected by macroeconomic factors such as the overall economic health of the country, government policies and regulations, and investment in infrastructure. Countries with strong economic growth and favorable regulatory environments tend to have a higher demand for bicycles, leading to a faster market growth. Additionally, the rising popularity of cycling as a form of exercise and transportation, along with increasing health consciousness among consumers, is also contributing to the growth of the Regular Bicycles Market in Russia.

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.