Bicycles - Israel

Israel

The Bicycles market in Israel is projected to reach a revenue of US$165.10m in 2024.
It is expected to show a steady annual growth rate of -0.46% from 2024 to 2029.
This growth will result in a projected market volume of US$161.30m by 2029.
Furthermore, the unit sales of Bicycles market in Israel are expected to reach 0.49m bicycles by 2029.
In 2024, the volume weighted average price of Bicycles market in Israel is projected to be US$295.30.
This average price reflects the combination of various factors such as the quality, design, and features of the Bicycles market available in the market.
When looking at the international perspective, it is notable that China is expected to generate the highest revenue in the Bicycles market, with an estimated revenue of US$12,370m in 2024.
This highlights the significant market potential and demand for Bicycles market China.
It is interesting to observe the growth and potential of the Bicycles market in Israel, as well as the global landscape of the industry.
Israel's bicycle market is experiencing a surge in demand due to the country's growing emphasis on sustainable transportation and urban cycling initiatives.

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Analyst Opinion

The Bicycles market in Israel is experiencing significant growth and development. Customer preferences have shifted towards more sustainable and eco-friendly modes of transportation, driving the demand for bicycles.

Additionally, several trends in the market are contributing to this growth, including the rise of e-bikes and the increasing popularity of cycling as a recreational and fitness activity. Customer preferences in the Bicycles market in Israel have evolved in recent years. With growing concerns about climate change and environmental sustainability, there has been a shift towards greener modes of transportation.

Bicycles are seen as a more sustainable and eco-friendly alternative to cars and public transportation. Moreover, the health and fitness benefits of cycling have also attracted a large number of customers. Cycling is not only a means of transportation but also a recreational and fitness activity, appealing to individuals seeking an active lifestyle.

Several trends in the market are driving the growth of the Bicycles market in Israel. One significant trend is the rise of e-bikes. E-bikes provide an electric boost to the rider, making cycling easier and more accessible to a wider range of individuals.

This trend has gained traction in Israel due to the country's hilly terrain, making e-bikes a popular choice for commuting and recreational purposes. The convenience and efficiency of e-bikes have made them a preferred option for many customers. Another trend in the market is the increasing popularity of cycling as a recreational and fitness activity.

Israel offers diverse landscapes and scenic routes, making it an attractive destination for cyclists. Many individuals are now embracing cycling as a way to explore the country's natural beauty and stay fit. This trend has led to a growing demand for high-quality bicycles that can withstand different terrains and provide a comfortable riding experience.

Local special circumstances also contribute to the development of the Bicycles market in Israel. The government has implemented various initiatives to promote cycling and improve infrastructure for cyclists. These include the construction of dedicated bike lanes and the implementation of bike-sharing programs in major cities.

These efforts have made cycling a safer and more convenient option for transportation, further driving the demand for bicycles. Underlying macroeconomic factors also play a role in the growth of the Bicycles market in Israel. The country's strong economy and high disposable income levels have increased consumer purchasing power, allowing more individuals to afford bicycles.

Additionally, the growing tourism industry in Israel has created a demand for rental bicycles, further boosting the market. In conclusion, the Bicycles market in Israel is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards more sustainable modes of transportation, the rise of e-bikes, the popularity of cycling as a recreational activity, government initiatives, and a strong economy all contribute to the positive trajectory of the market.

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).