Bicycles - Argentina

Argentina

The Bicycles market in Argentina is expected to generate a revenue of US$300.40m in the year 2024.
This projected figure indicates a promising growth potential for the market.
Furthermore, the revenue is anticipated to exhibit an annual growth rate of 7.19% between 2024 and 2029, resulting in a projected market volume of US$425.00m by 2029.
The demand for Bicycles market in Argentina is also expected to rise, with unit sales projected to reach 1.03m bicycles by 2029.
This increase in sales reflects the growing popularity and adoption of Bicycles market among the Argentinian population.
In terms of pricing, the volume weighted average price of Bicycles market in Argentina is estimated to be US$337.80 in the year 2024.
This figure represents the average price at which Bicycles market are expected to be sold in the market.
When comparing international markets, it is evident that China is poised to generate the highest revenue in the Bicycles market.
In 2024, China is projected to generate a staggering revenue of US$12,370m, highlighting its dominance in the global market.
Overall, the Bicycles market in Argentina shows promising growth potential, with projected increases in revenue, market volume, and unit sales.
The international perspective emphasizes the significance of China in terms of revenue generation.
Argentina's bicycle market is experiencing a surge in demand due to the increasing popularity of eco-friendly transportation options in the country.

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Analyst Opinion

The Bicycles market in Argentina has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Bicycles market in Argentina is the increasing preference for eco-friendly transportation options. With growing concerns about climate change and pollution, more and more people are opting for bicycles as a means of transportation. Bicycles are not only environmentally friendly, but they also offer a cost-effective and healthy way to commute.

Trends in the market: Another trend that has been observed in the Bicycles market in Argentina is the rising popularity of electric bicycles. Electric bicycles provide an alternative for those who want to enjoy the benefits of cycling but may require some assistance, especially when traveling long distances or facing hilly terrains. The convenience and ease of use offered by electric bicycles have made them a popular choice among consumers in Argentina.

Local special circumstances: Argentina has a unique geography and diverse landscape, which makes it an ideal country for cycling enthusiasts. From the flat plains of the Pampas to the challenging mountain ranges of the Andes, Argentina offers a wide range of terrains for cyclists to explore. This diversity in terrain has contributed to the growing interest in cycling as a recreational activity and has also fueled the demand for bicycles in the country.

Underlying macroeconomic factors: The growth of the Bicycles market in Argentina can also be attributed to the country's economic conditions. In recent years, Argentina has faced economic challenges, including high inflation and currency devaluation. As a result, many people have turned to bicycles as a more affordable and practical mode of transportation. Bicycles offer a cost-effective alternative to cars and public transportation, making them an attractive option for consumers looking to save money. In conclusion, the Bicycles market in Argentina is experiencing significant growth due to the increasing preference for eco-friendly transportation options, the rising popularity of electric bicycles, the unique geography and diverse landscape of the country, and the economic conditions in Argentina. As the demand for bicycles continues to rise, it is expected that the market will continue to expand in the coming years.

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).