Global Bicycle Market 2024

Bicycle Market Size

After four years of growth, the global bicycle market decreased by X% to $X in 2023. In general, consumption saw a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $X in 2022, and then shrank in the following year.

Bicycle Production

In value terms, bicycle production reached $X in 2023 estimated in export price. Over the period under review, production, however, showed a mild descent. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Bicycle Exports

Exports

In 2023, overseas shipments of bicycles and other cycles decreased by X% to X units, falling for the second year in a row after two years of growth. In general, exports saw a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2022 to 2023, the growth of the global exports remained at a lower figure.

In value terms, bicycle exports fell markedly to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the global exports remained at a lower figure.

Exports by Country

China prevails in exports structure, resulting at X units, which was near X% of total exports in 2023. It was distantly followed by Cambodia (X units), creating a X% share of total exports. Japan (X units), Taiwan (Chinese) (X units), India (X units), Italy (X units), Bangladesh (X units), Spain (X units) and the Netherlands (X units) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Cambodia (X%), Bangladesh (X%) and Spain (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. By contrast, Japan (X%), India (X%), Italy (X%), the Netherlands (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. Cambodia (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the global exports, while China and Taiwan (Chinese) saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bicycle supplying countries worldwide were China ($X), Taiwan (Chinese) ($X) and Cambodia ($X), with a combined X% share of global exports.

In terms of the main exporting countries, Cambodia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average bicycle export price stood at $X per unit in 2023, reducing by X% against the previous year. In general, export price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, bicycle export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other global leaders experienced more modest paces of growth.

Bicycle Imports

Imports

In 2023, supplies from abroad of bicycles and other cycles decreased by X% to X units, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of global imports remained at a somewhat lower figure.

In value terms, bicycle imports dropped rapidly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Global imports peaked at $X in 2022, and then dropped dramatically in the following year.

Imports by Country

In 2023, the United States (X units), distantly followed by Japan (X units) represented the main importers of bicycles and other cycles, together mixing up X% of total imports. Russia (X units), Germany (X units), Indonesia (X units), Vietnam (X units), the Philippines (X units), the Netherlands (X units), the UK (X units), Thailand (X units), France (X units), South Korea (X units) and Belgium (X units) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to bicycle imports into the United States stood at X%. At the same time, Vietnam (X%), Indonesia (X%), Thailand (X%) and the Philippines (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. Russia, the Netherlands and Germany experienced a relatively flat trend pattern. By contrast, Belgium (X%), South Korea (X%), Japan (X%), France (X%) and the UK (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Indonesia, Vietnam, the Philippines and Thailand increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Germany ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of global imports. Japan, France, Belgium, the UK, South Korea, Vietnam, Russia, Indonesia, Thailand and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average bicycle import price stood at $X per unit in 2023, approximately equating the previous year. In general, import price indicated moderate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, bicycle import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2022 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform