Regular Bicycles - Portugal

Portugal

The revenue in the Regular Bicycles market in Portugal is forecasted to reach €94.41m in 2024.
This projection anticipates an annual growth rate (CAGR 2024-2029) of -1.96%, leading to a projected market volume of €85.53m by 2029.
The unit sales of Regular Bicycles market in Portugal are expected to reach 205.70k bicycles in 2029.
The volume weighted average price of Regular Bicycles market in the Portuguese market in 2024 is expected to be €395.10.
Looking at it from a global perspective, it is evident that the United States will generate the most revenue, with €6,399m in 2024.

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Analyst Opinion

The Regular Bicycles Market in Portugal has seen a decline in growth due to factors such as a saturated market and a decrease in consumer interest. Despite this, the convenience of online shopping and increasing health consciousness are still driving some growth.

Customer preferences: As Portugal's population continues to age, there has been a noticeable increase in the demand for regular bicycles among older adults. This trend can be attributed to the growing emphasis on healthy and active lifestyles, as well as the convenience and affordability of regular bicycles compared to other fitness options. Additionally, the rise of eco-tourism and sustainable transportation initiatives has also contributed to the popularity of regular bicycles in Portugal's market.

Trends in the market: In Portugal, the Regular Bicycles Market within the Bicycles Market is experiencing a surge in demand for electric bicycles, as consumers seek more eco-friendly and efficient transportation options. This trend is expected to continue, with the government promoting the use of electric bicycles through subsidies and infrastructure development. Additionally, there has been a rise in the popularity of leisure cycling, with cycling tourism becoming a growing trend in the country. This presents opportunities for industry stakeholders to cater to this segment and tap into the potential for growth in the tourism industry.

Local special circumstances: In Portugal, the Regular Bicycles Market within the Bicycles Market is heavily influenced by the country's hilly terrain and its strong cycling culture. The demand for electric bicycles has been on the rise, driven by the need for easier navigation on steep roads and the growing popularity of cycling as a sport. Additionally, the government's initiatives to promote sustainable transportation and reduce carbon emissions have also contributed to the growth of the Regular Bicycles Market in Portugal.

Underlying macroeconomic factors: The Regular Bicycles Market within the Bicycles Market in Portugal is greatly impacted by macroeconomic factors such as consumer spending, economic stability, and government policies. The overall health of the Portuguese economy, including employment rates and income levels, can greatly influence the demand for regular bicycles. Additionally, fiscal policies, such as tax incentives for eco-friendly transportation, can also impact the market. Furthermore, global economic trends, such as the increasing focus on sustainability and eco-friendly transportation, can also drive the demand for regular bicycles in Portugal.

Methodology

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).