Bicycles - Algeria

Algeria

In Algeria, the Bicycles market is projected to achieve a revenue of US$37.60m in 2024.
This indicates an expected annual growth rate (CAGR 2024-2029) of 5.51%, leading to a projected market volume of US$49.17m by 2029.
Furthermore, the unit sales for Bicycles market are anticipated to reach 197.10k bicycles in 2029.
A noteworthy statistic reveals that the volume weighted average price of Bicycles market in 2024 is projected to be US$190.10.
When examining the international landscape, it is evident that China is poised to generate the highest revenue in the Bicycles market, with an estimated amount of US$12,370m in 2024.
Algeria's growing interest in eco-friendly transportation has led to a surge in demand for bicycles, making it a promising market for bike manufacturers.

Market

Region

Region comparison

Currency

Analyst Opinion

The Bicycles market in Algeria is experiencing significant growth and development in recent years.

Customer preferences: Algerian consumers are increasingly choosing bicycles as a means of transportation due to their affordability, convenience, and environmental friendliness. Bicycles are seen as a practical and sustainable alternative to cars or motorcycles, especially in urban areas where traffic congestion is a major issue. Additionally, there is a growing interest in cycling as a recreational activity, with more people embracing a healthier lifestyle and seeking outdoor activities.

Trends in the market: One of the key trends in the Algerian Bicycles market is the rising demand for electric bicycles. Electric bicycles provide an extra boost of power, making it easier for riders to navigate hilly terrains or longer distances. This trend is driven by the increasing awareness of environmental issues and the desire for more efficient and sustainable transportation options. Another trend in the market is the growing popularity of mountain bikes. Algerians are increasingly interested in outdoor activities and adventure sports, and mountain biking offers a thrilling and challenging experience. This trend is further supported by the country's diverse landscape, which includes mountains, deserts, and coastal areas, providing ample opportunities for off-road biking.

Local special circumstances: The Algerian government has been actively promoting cycling as a means of transportation and has implemented various initiatives to encourage its adoption. This includes the development of cycling infrastructure, such as dedicated bike lanes and parking facilities, as well as public awareness campaigns to promote the benefits of cycling. These efforts have contributed to the increasing popularity of bicycles among Algerian consumers.

Underlying macroeconomic factors: The growth of the Bicycles market in Algeria is also influenced by several macroeconomic factors. The country has been experiencing steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has made bicycles more affordable and accessible to a larger segment of the population. Furthermore, the COVID-19 pandemic has had a significant impact on consumer behavior, with more people opting for individual modes of transportation to avoid crowded public spaces. Bicycles have emerged as a safe and convenient option, allowing people to maintain social distancing while commuting or running errands. In conclusion, the Bicycles market in Algeria is witnessing a surge in demand due to customer preferences for affordable and sustainable transportation options. The rising popularity of electric bicycles and mountain bikes reflects the growing interest in eco-friendly and outdoor activities. The Algerian government's support for cycling and the country's favorable macroeconomic conditions have further contributed to the market's growth.

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).