Global Bicycle Market 2024

Bicycle Market Size

In 2022, the global bicycle market increased by X% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

Bicycle Production

In value terms, bicycle production expanded to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Bicycle Exports

Exports

After two years of growth, shipments abroad of bicycles and other cycles decreased by X% to X units in 2022. Over the period under review, exports saw a perceptible slump. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The global exports peaked at X units in 2021, and then contracted rapidly in the following year.

In value terms, bicycle exports declined to $X in 2022. In general, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2015 when exports increased by X%. The global exports peaked at $X in 2021, and then fell slightly in the following year.

Exports by Country

China dominates exports structure, accounting for X units, which was near X% of total exports in 2022. It was distantly followed by Cambodia (X units), generating a X% share of total exports. Japan (X units), Taiwan (Chinese) (X units), Bangladesh (X units), Italy (X units), Portugal (X units), the Netherlands (X units) and India (X units) held a minor share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Cambodia (X%), Bangladesh (X%) and Portugal (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, the Netherlands (X%), Japan (X%), India (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cambodia, Bangladesh and India increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest bicycle supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of global exports. It was followed by Cambodia, with a X% share.

In China, bicycle exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Cambodia (X% per year).

Export Prices by Country

The average bicycle export price stood at $X per unit in 2022, increasing by X% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bicycle export price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, 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

After two years of growth, purchases abroad of bicycles and other cycles decreased by X% to X units in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then shrank markedly in the following year.

In value terms, bicycle imports fell slightly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, the United States (X units), distantly followed by Japan (X units) and Germany (X units) were the largest importers of bicycles and other cycles, together generating X% of total imports. The UK (X units), the Netherlands (X units), the Philippines (X units), Canada (X units), France (X units), Russia (X units), Nigeria (X units), Australia (X units), Iraq (X units) and Chile (X units) held a minor share of total imports.

Imports into the United States decreased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%), Iraq (X%), Chile (X%), the Netherlands (X%), Canada (X%) and Germany (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Australia (X%), the UK (X%), Russia (X%), France (X%), Japan (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines, Nigeria, Australia and the Netherlands 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 largest bicycle importing markets worldwide were the United States ($X), Germany ($X) and the Netherlands ($X), together comprising X% of global imports. Japan, France, the UK, Canada, Australia, Russia, Chile, Iraq, the Philippines and Nigeria lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the Philippines, with a CAGR of X%, recorded the highest growth rate of 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 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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