Regular Bicycles - Ukraine | Statista Market Forecast

Revenue in the Regular Bicycles market in Ukraine is forecasted to reach US$26.28m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 24.36%, leading to a projected market volume of US$78.19m by 2029.
Unit sales in the Regular Bicycles market are expected to hit 136.30k bicycles in 2029.
The volume weighted average price of Regular Bicycles market in 2024 is projected to be US$533.10.
Looking at the international landscape, it is evident that the highest revenue will be generated the United States (US$7bn in 2024).
In the Ukraine, the Regular Bicycles market is experiencing a surge in demand due to increased interest in eco-friendly transportation options.

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 Ukraine is facing slow growth, influenced by factors such as limited consumer awareness, lack of government support, and preference for traditional transportation methods. Despite this, the market is expected to gradually expand due to the increasing popularity of cycling as a form of exercise and increasing urbanization.

Customer preferences: The regular bicycles market in Ukraine has seen a rise in demand for electric bicycles, as consumers look for eco-friendly and convenient modes of transportation. This trend is driven by the increasing awareness of environmental issues and the need for sustainable transportation solutions. Additionally, the rise in urbanization and traffic congestion has also contributed to the demand for regular bicycles as a means of commuting. This shift towards alternative modes of transportation reflects a growing preference for healthier and more sustainable lifestyle choices among Ukrainian consumers.

Trends in the market: In Ukraine, the Regular Bicycles Market within the Bicycles Market is experiencing a shift towards e-bikes, with a growing demand for electric bicycles among consumers. This trend is significant as it aligns with the global movement towards sustainable transportation options and offers potential growth opportunities for industry stakeholders. Additionally, the rise of e-commerce in Ukraine has led to an increase in online sales of regular bicycles, providing convenience for consumers and expanding the market reach for manufacturers and retailers.

Local special circumstances: In Ukraine, the Regular Bicycles Market is heavily influenced by the country's geography, with its vast rural areas and relatively underdeveloped infrastructure. This has led to a strong demand for affordable and durable bicycles for transportation and recreation purposes. Additionally, the country's recent political and economic instability has also contributed to the market's growth, as more people turn to bicycles as a cost-effective means of transportation. Furthermore, the cultural preference for outdoor activities and the government's efforts to promote a healthier lifestyle have also bolstered the Regular Bicycles Market in Ukraine.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Ukraine is heavily influenced by macroeconomic factors such as consumer spending power, government policies, and economic stability. As the country continues to recover from the recent political and economic crisis, there has been a significant increase in consumer spending, leading to a rise in demand for regular bicycles. Additionally, the government's efforts to promote a healthier lifestyle and to reduce traffic congestion have also contributed to the growth of the regular bicycles market. However, the ongoing trade tensions with Russia and the depreciation of the Ukrainian currency may hinder the market's growth in the near future.

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.