Analysis and Studies - Products analysis
Bicycles Trade Data: A Growing Market
March 24th 2022
A growing market...
More than 100 million bicycles are produced in the world each year.
During the pandemic the world saw a growth in interest for outdoor activities like cycling and this resulted in higher sales in bicycle equipment in 2020-2021. This trend has slowed with the easing of the measures related to the pandemic.
Cycling equipment revenue grew by 15% to $8.5 billion in the 12 months ending July 2021, compared to the previous year.
Among these products, motorized bicycles (commonly called ‘e-bikes’) have seen a very important sales rise in the last years, far faster than general ones: as an example, in the US electric bicycles sales showed a +240% in the same 12 months.
Latest data on Bicycle market – a snapshot
The global bicycle market size was valued at USD 60 billion ca. in 2021 and is expected to expand at a compound annual growth rate (CAGR) of around 8% in the period 2022-2030.
Extensive data about the industry can be referred back to 2019, where Bicycles were the world's 351st most traded product, with a total trade of $8.79B.
As the world’s top producer of bicycles, China is also its top exporter with $2.98B; the country is followed by Chinese Taipei ($1.47B), Germany ($672M), Netherlands ($640M), and Cambodia ($482M).
Instead, top importers of this H-4 digit product were: United States ($1.26B), Germany ($891M), Japan ($662M), Netherlands ($652M), and United Kingdom ($508M).
Then, in 2018 the average tariff for Bicycles was 14.7%, with Iran, Syria and Pakistan having the highest ones between 35- and 40%.
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