The Bicycles market in Jordan has experienced significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Jordan have shifted towards more sustainable modes of transportation, with bicycles being a popular choice.
This is due to increasing awareness of environmental issues and a desire to reduce carbon emissions. Additionally, bicycles offer a cost-effective and convenient mode of transportation, particularly in urban areas with heavy traffic congestion. Trends in the market have also contributed to the growth of the Bicycles market in Jordan.
The rise of e-commerce has made it easier for consumers to purchase bicycles, with a wide range of options available online. This has increased competition among retailers, leading to lower prices and a greater variety of products. Furthermore, the popularity of cycling as a recreational activity has increased, with more people participating in organized cycling events and joining cycling clubs.
Local special circumstances in Jordan have also played a role in the development of the Bicycles market. The country has a favorable climate for outdoor activities, with mild winters and long periods of sunshine. This makes cycling a popular choice for both commuting and leisure purposes.
Additionally, the government has implemented initiatives to promote cycling, such as the development of dedicated cycling lanes and the introduction of bike-sharing programs in major cities. Underlying macroeconomic factors have also contributed to the growth of the Bicycles market in Jordan. The country has experienced steady economic growth in recent years, leading to an increase in disposable income levels.
This has made bicycles more affordable for a larger segment of the population, driving demand. Furthermore, the government has implemented policies to encourage investment in the manufacturing and distribution of bicycles, creating a favorable business environment for industry players. In conclusion, the Bicycles market in Jordan has experienced significant growth in recent years, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
The shift towards more sustainable modes of transportation, the rise of e-commerce, the popularity of cycling as a recreational activity, favorable local conditions, and government initiatives have all contributed to the development of the market. With continued economic growth and ongoing support from the government, the Bicycles market in Jordan is expected to continue its upward trajectory in the coming years.
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).
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