Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Malaysia - 2024

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Malaysia (FOB) - 2022

In 2022, the average export price for cycles; parts thereof, wheel rims and spokeses amounted to $13,068 per ton, declining by -22% against the previous year. In general, the export price, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by 199% against the previous year. The export price peaked at $16,745 per ton in 2021, and then contracted remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($20,234 per ton), while the average price for exports to Saudi Arabia ($1,705 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Malaysia (CIF) - 2022

In 2022, the average import price for cycles; parts thereof, wheel rims and spokeses amounted to $9,139 per ton, surging by 35% against the previous year. Over the period under review, the import price showed a strong expansion. The pace of growth appeared the most rapid in 2019 an increase of 77%. The import price peaked in 2022 and is likely to see steady growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +12.7% per year.

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Malaysia

In 2022, the amount of cycles; parts thereof, wheel rims and spokeses exported from Malaysia skyrocketed to 3.3K tons, with an increase of 79% on the previous year's figure. Overall, exports posted buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses surged to $43M in 2022. In general, exports saw a significant increase. The growth pace was the most rapid in 2021 when exports increased by 66% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see steady growth in the near future.

Export of Cycles; Parts Thereof, Wheel Rims and Spokes in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Singapore	0.3	0.5	22.8	35.0	388.6%
India	2.0	0.5	0.9	2.6	9.1%
Vietnam	0.4	0.6	1.3	1.2	44.2%
Cambodia	0.2	0.4	0.3	0.6	44.2%
Thailand	0.3	0.1	0.1	0.6	26.0%
Netherlands	2.3	4.1	1.1	0.4	-44.2%
Germany	1.5	2.0	0.6	0.3	-41.5%
Saudi Arabia	N/A	N/A	N/A	0.1	0%
Others	5.6	10.0	3.4	1.7	-32.8%
Total	12.8	18.2	30.4	42.5	49.2%

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from Malaysia in 2022:

Singapore (1732.0 tons)
India (993.2 tons)
Vietnam (143.1 tons)
Saudi Arabia (75.5 tons)
Thailand (72.0 tons)
Cambodia (60.5 tons)
Netherlands (38.9 tons)
Germany (25.2 tons)

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Malaysia

In 2022, imports of cycles; parts thereof, wheel rims and spokeses into Malaysia reached 1.5K tons, with an increase of 7.2% against the previous year's figure. In general, imports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 129%.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses surged to $14M in 2022. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 189%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.