Bicycles - Zimbabwe | Statista Market Forecast

Revenue in the Bicycles market is projected to reach US$4.24m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.73%, resulting in a projected market volume of US$4.40m by 2029.
Bicycles market unit sales are expected to reach 24.51k bicycles in 2029.
The volume weighted average price of Bicycles market in 2024 is expected to amount to US$147.40.
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 Zimbabwe has been facing a negligible decline in growth rate. This can be attributed to factors such as low disposable income, lack of infrastructure for cycling, and competition from other modes of transportation. However, the market for Electric Bicycles is expected to see some growth due to increasing demand for eco-friendly transportation options. Overall, the Bicycles Market in Zimbabwe is facing challenges but has potential for growth in the future.

Customer preferences: Consumers in Zimbabwe are increasingly prioritizing environmentally-friendly and sustainable options, leading to a rise in demand for electric and hybrid bicycles. This trend is driven by the country's growing awareness of climate change and the need for eco-friendly transportation. Additionally, with the rise of urbanization and traffic congestion, bicycles are becoming a popular mode of transportation for short distances, further driving the growth of the Bicycles Market in Zimbabwe.

Trends in the market: In Zimbabwe, the Bicycles Market is experiencing a shift towards electric and hybrid bicycles, as consumers become more environmentally conscious and seek alternative modes of transportation. This trend is expected to continue as the government implements initiatives to promote sustainable transportation. Additionally, there is a growing demand for high-end bicycles, as the country's economy improves and consumers have more disposable income. These trends highlight the potential for growth in the Bicycles Market and present opportunities for industry stakeholders to tap into new markets and diversify product offerings. However, challenges such as affordability and infrastructure may hinder the market's growth. As a result, companies may need to adapt their strategies to cater to the changing needs and preferences of consumers in Zimbabwe.

Local special circumstances: In Zimbabwe, the Bicycles Market is heavily influenced by the country's economic and political situation. With a struggling economy and high unemployment rates, many locals rely on bicycles as a means of transportation. Additionally, the country's vast rural areas and limited public transportation options make bicycles a popular choice for both commuting and leisure. The government's strict regulations on vehicle imports also contribute to the demand for bicycles. These unique factors create a niche market for affordable and reliable bicycles in Zimbabwe.

Underlying macroeconomic factors: The Bicycles Market in Zimbabwe is greatly impacted by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The current state of the economy in Zimbabwe, including inflation rates and currency fluctuations, can affect consumer spending and demand for bicycles. Additionally, fiscal policies, such as taxes and import regulations, can have a significant impact on the cost and availability of bicycles in the market. Furthermore, global economic trends, such as trade agreements and economic growth in neighboring countries, can also influence the performance of the Bicycles Market in Zimbabwe.

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.