Regular Bicycles - South America | Statista Market Forecast

The revenue in the market of Regular Bicycles market in South America is forecasted to reach US$1.56bn by 2024.
This revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.03%, leading to a projected market volume of US$1.56bn by 2029.
The unit sales of Regular Bicycles market in the market are expected to hit 4.89m bicycles by 2029.
The volume weighted average price of Regular Bicycles market in the market is expected to be US$286.70 in 2024.
When looking at the international scenario, the United States is projected to generate the highest revenue, reaching 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 South America, the Regular Bicycles Market is facing a negligible decline in growth rate due to various factors. These include increasing competition from alternative modes of transportation, a decline in consumer interest in traditional bicycles, and a lack of government support for promoting the use of bicycles as a means of transportation. Despite these challenges, the market is expected to experience some growth in the coming years due to a growing focus on sustainability and health-consciousness among consumers.

Customer preferences: There has been a shift towards urban cycling, with more individuals opting for bicycles as a means of commuting. This trend is driven by a growing concern for the environment and a desire for healthier lifestyles. As a result, there has been an increase in the availability of bike-sharing programs and dedicated cycling infrastructure in major cities.

Additionally, there is a growing trend of bike-sharing services in urban areas, which presents opportunities for new players to enter the market and for existing companies to expand their offerings.

Local special circumstances: In South America, the Regular Bicycles Market is heavily influenced by geographical factors such as terrain and weather conditions. For instance, mountainous regions have a higher demand for mountain bikes, while flat areas prefer road bikes. Additionally, cultural factors, such as the popularity of cycling as a means of transportation in cities like Bogota, Colombia, have led to a surge in demand for commuter bikes.

Underlying macroeconomic factors: The Regular Bicycles Market in South America is heavily influenced by macroeconomic factors such as economic stability, consumer spending power, and government policies. Countries with strong economic growth and favorable trade policies are experiencing a higher demand for regular bicycles, as consumers have more disposable income to spend on recreational activities. On the other hand, countries with economic challenges and restrictive trade policies are facing slower market growth in the Regular Bicycles Market. Additionally, the increasing popularity of eco-friendly transportation options and the growing trend of health and wellness are also driving the demand for regular bicycles in South 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.