Bicycles - Southern Europe | Statista Market Forecast

Revenue in the Bicycles market is projected to reach US$4.65bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.60%, resulting in a projected market volume of US$4.79bn by 2029.
Bicycles market unit sales are expected to reach 4.80m bicycles in 2029.
The volume weighted average price of Bicycles market in 2024 is expected to amount to US$906.10.
From an international perspective it is shown that the most revenue will be generated China (US$12bn in 2024).

Definition:

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 or additionally with an assisting electrical engine. Unlike electrically powered scooters and mopeds, electrical bicycles always have pedals allowing them to be ridden with human power.

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 bicycles market covers all types of bicycles including road and racing bicycles, off-road bicycles, special purpose bicycles, electrical bicycles, hybrid bicycles, as well as bicycle supplies. However, motorcycles, scooters, mopeds, secondhand 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
Off-road bicycles such as mountain bikes and cyclocross bikes
Special purpose bicycles such as folding-, BMX-, recumbent-, cargo, and kid´s bikes
Electrical and hybrid bicycles
Bicycle supplies such as bags, locks, separate bicycle baskets
Bicycle spare parts such as bicycle tubes, bicycle tires
New bicycles, e.g., new road and racing bicycles, new off-road bicycles

Motorcycles, scooters, mopeds
Secondhand bicycles
Bike-sharing bicycles
Rented bicycles

The Bicycles Market in Southern Europe is facing a negligible decline in growth rate, potentially impacted by factors such as economic instability, changing consumer preferences, and competition from alternative modes of transportation. Despite this, the market continues to see steady demand for both Regular and Electric Bicycles due to their convenience, health benefits, and increasing focus on sustainable transportation options.

Customer preferences: As the concept of sustainable living gains traction in Southern Europe, there is a growing demand for eco-friendly and electric bicycles. This trend is driven by a combination of factors, including concerns over air pollution and the desire for a more active and environmentally conscious lifestyle. In addition, the rise of cycling tourism has also contributed to the popularity of bicycles, with tourists seeking unique and eco-friendly ways to explore the region. As a result, manufacturers are increasingly focusing on developing innovative and eco-friendly bicycle models to cater to this growing market.

Trends in the market: In Southern Europe, the Bicycles Market is experiencing a surge in demand for electric bicycles, driven by the need for eco-friendly transportation options and the rise in health and wellness consciousness. This trend is expected to continue as governments implement policies to promote sustainable modes of transportation. Additionally, there is a growing trend of bike-sharing programs and the use of e-bikes for food delivery services. These developments have significant implications for industry stakeholders, as they present opportunities for growth and innovation in the market.

Local special circumstances: In Southern Europe, the Bicycles Market is heavily influenced by the region's unique cultural and geographical features. Countries such as Italy and Spain have a strong cycling culture, with many cities promoting bike-friendly infrastructure. This has led to a high demand for bicycles, especially for leisure and commuting purposes. Additionally, the region's warm climate and scenic landscapes make it an ideal location for cycling tourism. However, strict regulations on road safety and emissions control also impact the market, with manufacturers and retailers having to adhere to specific standards.

Underlying macroeconomic factors: The Bicycles Market in Southern Europe is heavily influenced by macroeconomic factors such as economic stability, consumer confidence, and government policies. In countries with strong economic growth and stable fiscal policies, the demand for bicycles is expected to increase due to higher disposable income and consumer spending. Conversely, countries with economic challenges and unstable fiscal policies may experience slower market growth. Additionally, the increasing focus on sustainable transportation and the promotion of cycling as a healthy and environmentally-friendly mode of transportation are also driving the demand for bicycles in this region.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of 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.