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The Bicycles market in EU-27 is experiencing significant growth and development, driven by various customer preferences and trends in the market.
Customer preferences: In recent years, there has been a growing interest in health and fitness among consumers in EU-27, leading to an increased demand for bicycles. Many individuals are looking for sustainable and eco-friendly transportation options, and bicycles provide a convenient and affordable solution. Additionally, the COVID-19 pandemic has further accelerated the demand for bicycles as people seek alternative modes of transportation and outdoor activities.
Trends in the market: One of the key trends in the Bicycles market in EU-27 is the rise of e-bikes. E-bikes offer the convenience of traditional bicycles with the added benefit of electric assistance, making them particularly attractive to commuters and individuals who may have physical limitations. The demand for e-bikes is expected to continue growing as advancements in battery technology and motor efficiency make them more accessible and affordable. Another trend in the market is the increasing popularity of urban cycling. Many cities in EU-27 have been investing in cycling infrastructure, such as dedicated bike lanes and bike-sharing programs, to encourage people to cycle for their daily commutes. This has resulted in a higher demand for commuter and city bikes, which are designed for urban environments and offer features like lightweight frames and easy maneuverability.
Local special circumstances: Each country within EU-27 has its own unique circumstances that influence the Bicycles market. For example, countries with a strong cycling culture, such as the Netherlands and Denmark, have a higher demand for bicycles compared to countries where cycling is less prevalent. Additionally, factors like population density, geography, and climate can also impact the demand for bicycles in specific regions.
Underlying macroeconomic factors: The Bicycles market in EU-27 is also influenced by macroeconomic factors such as disposable income, employment rates, and consumer confidence. When the economy is performing well and people have more disposable income, they are more likely to invest in bicycles as a mode of transportation or leisure activity. Conversely, during economic downturns, the demand for bicycles may decrease as consumers prioritize essential expenses. In conclusion, the Bicycles market in EU-27 is experiencing growth and development due to customer preferences for sustainable transportation and increased interest in health and fitness. The rise of e-bikes and urban cycling are key trends in the market, while local special circumstances and macroeconomic factors also play a role in shaping the demand for bicycles in specific countries and regions.
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).Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)