Bicycles - United Arab Emirates

United Arab Emirates

Revenue in the Bicycles market is projected to reach €176.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.12%, resulting in a projected market volume of €186.70m by 2029.
Bicycles market unit sales are expected to reach 586.60k bicycles in 2029.
The volume weighted average price of Bicycles market in 2024 is expected to amount to €290.80.
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 United Arab Emirates is experiencing minimal growth due to factors such as limited consumer awareness, lack of infrastructure for cycling, and preference for alternative modes of transportation. However, the market is expected to see growth in the Electric Bicycles sub-market as consumers become more environmentally conscious and seek convenient transportation options.

Customer preferences: The United Arab Emirates has seen a rise in demand for electric bicycles, as consumers are becoming more environmentally conscious and looking for sustainable transportation options. Additionally, there is a growing interest in cycling as a recreational activity, with an increase in cycling events and tours. This trend is also influenced by the country's initiatives to promote a healthier and more active lifestyle, which has led to a surge in the popularity of cycling among all age groups.

Trends in the market: In the United Arab Emirates, the Bicycles Market is seeing a surge in demand for electric bikes, with more consumers prioritizing eco-friendly transportation options. This trend is expected to continue as the government implements initiatives to promote sustainable mobility. Additionally, there is a growing interest in high-end, specialized bicycles among fitness enthusiasts. This trend is significant for industry stakeholders as it presents opportunities for market expansion and diversification of product offerings. However, it also poses challenges in terms of supply chain management and pricing strategies.

Local special circumstances: In the United Arab Emirates, the Bicycles Market is influenced by the country's unique cultural and regulatory circumstances. Bicycles are a popular mode of transportation for both locals and tourists, with the government promoting cycling as a sustainable form of transportation. Additionally, the country's strict regulations on motor vehicles have also led to an increase in demand for bicycles. The market is also impacted by the region's hot climate, with an emphasis on lightweight and durable bicycles suitable for the desert terrain.

Underlying macroeconomic factors: The Bicycles Market in the United Arab Emirates is heavily influenced by macroeconomic factors such as the country's strong economic growth, favorable regulatory environment, and increasing investments in infrastructure development. With a growing population and rising disposable income, there is a growing demand for bicycles as a mode of transportation and leisure activity. Furthermore, the government's initiatives to promote cycling as a sustainable and healthy means of transportation are also driving the market growth. Additionally, the global trend towards eco-friendly and sustainable modes of transportation is also contributing to the growth of the Bicycles Market in the UAE.

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).