Bicycles - Switzerland

Switzerland

Revenue in the Bicycles market is projected to reach €717.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.12%, resulting in a projected market volume of €721.50m by 2029.
Bicycles market unit sales are expected to reach 449.60k bicycles in 2029.
The volume weighted average price of Bicycles market in 2024 is expected to amount to €1.54k.
From an international perspective it is shown that the most revenue will be generated in China (€11,350m in 2024).

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Analyst Opinion

The Bicycles market in Switzerland has seen minimal growth, possibly due to factors such as limited consumer awareness and the convenience of alternative transportation options. Additionally, the sub-markets of Regular and Electric Bicycles may also contribute to the overall stagnant growth rate.

Customer preferences: As sustainability and eco-consciousness become increasingly important to consumers in Switzerland, there has been a growing trend towards electric bicycles and other environmentally friendly transportation options. Additionally, the rising popularity of cycling as a form of exercise and leisure activity has led to a demand for high-tech features such as GPS tracking and fitness monitoring in bicycles. This reflects a larger trend towards health and wellness in the country, with consumers prioritizing physical activity and overall well-being.

Trends in the market: In Switzerland, the Bicycles Market is experiencing a surge in demand for electric bikes, with sales increasing by 27% in 2020. This trend is expected to continue, as the government has announced plans to invest in cycling infrastructure and promote e-bikes as a sustainable mode of transportation. Additionally, there is a growing trend of bike-sharing services, providing convenient and affordable access to bicycles for short-term use. These trends indicate a shift towards greener and healthier transportation options and present opportunities for bike manufacturers and service providers to cater to this evolving market.

Local special circumstances: In Switzerland, the Bicycles Market is heavily influenced by the country's mountainous terrain and strong culture of outdoor activities. This has led to a high demand for mountain bikes and specialized gear for mountain biking. Additionally, strict regulations and infrastructure for cycling, such as designated bike lanes and bike-friendly cities, have contributed to the popularity of bicycles as a mode of transportation. The country's emphasis on sustainability and eco-friendliness has also spurred the growth of the electric bike market. These unique factors have shaped the dynamics of the Bicycles Market in Switzerland, setting it apart from other markets.

Underlying macroeconomic factors: The Bicycles Market in Switzerland is heavily influenced by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. The country's strong economy and high disposable income levels have led to a growing demand for bicycles, as they are seen as a cost-effective and environmentally friendly mode of transportation. Moreover, the Swiss government's initiatives to promote sustainable transportation and reduce carbon emissions have further boosted the market growth. Additionally, the increasing trend of health and wellness consciousness among the population has also contributed to the demand for bicycles as a means of exercise and recreation.

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. The scenario analysis is based on a Monte Carlo simulation approach generating a range of possible outcomes by creating random variations in forecasted data points, based on assumptions about potential fluctuations in future values. By running numerous simulated scenarios, the model provides an estimated distribution of results, allowing for an analysis of likely ranges and confidence intervals around the forecast.

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).