Bicycles - Americas

Americas

The Bicycles market in Americas is projected to generate a revenue of €11.30bn in 2024.
This revenue is expected to grow annually at a rate of 2.92% (CAGR 2024-2029), resulting in a projected market volume of €13.05bn by 2029.
By 2029, the unit sales of Bicycles market in the Americas are expected to reach 31.65m bicycles.
In 2024, the volume weighted average price of Bicycles market in the Americas is expected to be €366.50.
However, when considering the international market, it is evident that China will generate the highest revenue in the Bicycles market, with an estimated €11,310m in 2024.
The demand for electric bicycles in the United States is steadily increasing, driven by a growing interest in eco-friendly transportation options.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Bicycles market in Americas is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the current state of the market.

Customer preferences: Customers in the Americas have shown a growing interest in bicycles as a mode of transportation and a recreational activity. This preference can be attributed to several factors. Firstly, there is a rising awareness of the environmental impact of traditional modes of transportation, such as cars. As a result, many individuals are opting for bicycles as a more sustainable alternative. Secondly, there is an increasing focus on health and fitness in the region. Bicycles provide a convenient and enjoyable way to stay active and incorporate exercise into daily routines. Lastly, the convenience and cost-effectiveness of bicycles compared to other forms of transportation make them an attractive option for many consumers.

Trends in the market: One of the key trends in the Bicycles market in Americas is the growing popularity of electric bicycles. These bikes offer an added level of convenience and ease of use, particularly for those who may have physical limitations or longer commutes. The electric component allows riders to travel longer distances with less effort, making them an appealing option for both commuting and recreational purposes. Additionally, there is a growing demand for specialized bicycles, such as mountain bikes and road bikes, as more individuals engage in outdoor activities and participate in cycling events.

Local special circumstances: The Americas is a diverse region with varying terrain and climates, which has a significant impact on the Bicycles market. In North America, for example, there is a strong demand for bicycles suitable for urban environments, as many cities have invested in bike-friendly infrastructure. In contrast, South America has a larger rural population, resulting in a higher demand for bicycles suitable for off-road and rough terrains. These local special circumstances influence the types of bicycles that are in demand and the marketing strategies employed by manufacturers and retailers.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the growth of the Bicycles market in Americas. Firstly, there has been a steady increase in disposable income across the region, allowing more individuals to afford bicycles. Additionally, government initiatives and incentives aimed at promoting cycling as a means of transportation have further fueled market growth. These initiatives include the development of dedicated bike lanes, bike-sharing programs, and tax benefits for purchasing bicycles. Lastly, the COVID-19 pandemic has also played a role in the market's development, as individuals sought alternative modes of transportation and outdoor activities during lockdowns and social distancing measures. In conclusion, the Bicycles market in Americas is experiencing growth and development due to customer preferences for sustainable and active transportation, the popularity of electric bicycles, local special circumstances, and underlying macroeconomic factors such as rising disposable income and government initiatives. As these trends continue to shape the market, it is expected that the demand for bicycles in the region will continue to rise.

Methodology

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).