Bicycles - Australia & Oceania

Australia & Oceania

The Bicycles market in Australia & Oceania is set to achieve a projected revenue of US$1.12bn in 2024.
This indicates a steady growth in the market, with an estimated annual growth rate (CAGR 2024-2029) of -0.72%.
As a result, the projected market volume is expected to reach US$1.08bn by 2029.
In terms of unit sales, the Bicycles market is forecasted to reach 1.21m bicycles in 2029.
Looking at the pricing aspect, the volume weighted average price of Bicycles market in 2024 is expected to be around US$0.78k.
This indicates the average price at which Bicycles market are being sold in the market during that year.
When considering the global scenario, it is noteworthy that China is expected to generate the highest revenue in the Bicycles market, reaching a substantial amount of US$12,370m in 2024.
This showcases the significant market potential and demand for Bicycles market China.
The demand for electric bicycles in Australia has increased, driven by the country's commitment to sustainability and increased interest in eco-friendly transportation options.

Market

Region

Region comparison

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Analyst Opinion

The Bicycles market in Australia & Oceania is experiencing steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Bicycles market in Australia & Oceania are shifting towards more environmentally friendly and sustainable modes of transportation.

As people become more conscious of the impact of their actions on the environment, they are increasingly choosing bicycles as a means of commuting or recreation. Bicycles offer a greener alternative to cars and contribute to reducing carbon emissions. Additionally, there is a growing interest in health and fitness, with many individuals opting for cycling as a form of exercise.

This preference for eco-friendly and healthy transportation options is driving the demand for bicycles in the region. Trends in the Bicycles market in Australia & Oceania are also contributing to its development. One notable trend is the rise of electric bicycles, also known as e-bikes.

E-bikes offer the convenience of a traditional bicycle with the added assistance of an electric motor, making them a popular choice for commuters who want to cover longer distances or tackle hilly terrains. The demand for e-bikes is fueled by their ease of use, affordability, and the growing availability of charging infrastructure. Another trend is the increasing popularity of cycling tourism, with many tourists opting to explore the scenic landscapes of Australia & Oceania on two wheels.

This trend is driving the demand for high-quality bicycles that can withstand rugged terrains and provide a comfortable riding experience. Local special circumstances in Australia & Oceania also play a role in the development of the Bicycles market. The region is known for its vast, open spaces and beautiful landscapes, making it an ideal destination for cycling enthusiasts.

The presence of well-maintained cycling trails and infrastructure further enhances the appeal of cycling in the region. Additionally, the government and local authorities in Australia & Oceania are actively promoting cycling as a sustainable mode of transportation and investing in the development of cycling infrastructure. These initiatives create a favorable environment for the growth of the Bicycles market in the region.

Underlying macroeconomic factors also contribute to the development of the Bicycles market in Australia & Oceania. The region has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, more individuals are able to afford bicycles and are willing to invest in high-quality models.

Furthermore, the rising urbanization in the region has led to increased traffic congestion and a greater emphasis on sustainable transportation options, further driving the demand for bicycles. In conclusion, the Bicycles market in Australia & Oceania is developing due to customer preferences for eco-friendly and healthy transportation options, trends such as the rise of e-bikes and cycling tourism, local special circumstances including the presence of well-maintained cycling infrastructure, and underlying macroeconomic factors such as economic growth and urbanization. These factors are contributing to the growth and popularity of the Bicycles market in the region.

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).