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Cuba - Bicycles and Other Cycles (Not Motorized) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCuba: Bicycle Market 2024
Bicycle Market Size in Cuba
In 2021, the Cuban bicycle market decreased by -24.6% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a tangible increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.
Bicycle Production in Cuba
In value terms, bicycle production skyrocketed to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 99% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.
Bicycle Exports
Exports from Cuba
In 2021, the amount of bicycles and other cycles exported from Cuba skyrocketed to X units, picking up by 123% compared with the previous year's figure. In general, exports saw a notable increase. The pace of growth was the most pronounced in 2015 with an increase of 197%. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.
In value terms, bicycle exports soared to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.
Exports by Country
Guatemala (X units) and Chile (X units) were the main destinations of bicycle exports from Cuba.
From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +41.4%).
In value terms, the largest markets for bicycle exported from Cuba were Guatemala ($X) and Chile ($X).
Among the main countries of destination, Guatemala, with a CAGR of +74.6%, recorded the highest growth rate of the value of exports, over the period under review.
Export Prices by Country
The average bicycle export price stood at $X per unit in 2021, with an increase of 5.1% against the previous year. Overall, the export price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 63%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Chile totaled $X per unit.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+16.0%).
Bicycle Imports
Imports into Cuba
In 2021, after two years of growth, there was decline in purchases abroad of bicycles and other cycles, when their volume decreased by -3.4% to X units. In general, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2019 when imports increased by 146% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020, and then fell slightly in the following year.
In value terms, bicycle imports declined markedly to $X in 2021. Over the period under review, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 161%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2021, Panama (X units) was the main bicycle supplier to Cuba, accounting for a 91% share of total imports. It was followed by China (X units), with a 3% share of total imports. The Dominican Republic (X units) ranked third in terms of total imports with a 1.9% share.
From 2012 to 2021, the average annual growth rate of volume from Panama totaled +53.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.2% per year) and the Dominican Republic (+76.5% per year).
In value terms, Panama ($X) constituted the largest supplier of bicycles and other cycles to Cuba, comprising 93% of total imports. The second position in the ranking was taken by China ($X), with a 1.9% share of total imports. It was followed by the Dominican Republic, with a 0.9% share.
From 2012 to 2021, the average annual growth rate of value from Panama totaled +45.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.2% per year) and the Dominican Republic (+69.4% per year).
Import Prices by Country
The average bicycle import price stood at $X per unit in 2021, reducing by -38.5% against the previous year. Over the period under review, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of 66%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Panama ($X per unit), while the price for the Dominican Republic ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.0%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the bicycle market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 30921000 - Bicycles and other cycles (including delivery tricycles), nonmotorised
- Prodcom 30921030 -
- Prodcom 30921050 -
Country coverage:
- Cuba
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Cuba
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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