Republic of Korea - Bicycles And Other Cycles (Not Motorized) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingBicycle Price in South Korea - 2022
Contents:
- Bicycle Price in South Korea (CIF) - 2022
- Bicycle Price in South Korea (FOB) - 2022
- Bicycle Imports in South Korea
- Bicycle Exports in South Korea
Bicycle Price in South Korea (CIF) - 2022
The average bicycle import price stood at $665 per unit in December 2022, picking up by 109% against the previous month. Over the period under review, the import price saw a prominent increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($2,688 per unit), while the price for China ($215 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Bicycle Price in South Korea (FOB) - 2022
The average bicycle export price stood at $100 per unit in 2022, growing by 8.8% against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2020 an increase of 47% against the previous year. Over the period under review, the average export prices reached the maximum at $204 per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($2,320 per unit), while the average price for exports to Malawi ($25 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+35.2%), while the prices for the other major destinations experienced more modest paces of growth.
Bicycle Imports in South Korea
In 2022, bicycle imports into South Korea was estimated at 1.3M units, increasing by 3.5% compared with the year before. Overall, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +15.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 57%. As a result, imports reached the peak of 1.4M units. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, bicycle imports contracted to $186M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +18.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.2% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs at $200M in 2021, and then declined in the following year.
| Import of Bicycle in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 73.5 | 119 | 143 | 124 | 19.0% |
| Taiwan (Chinese) | 27.0 | 39.1 | 38.0 | 37.0 | 11.1% |
| Others | 10.3 | 14.8 | 18.8 | 25.4 | 35.1% |
| Total | 111 | 173 | 200 | 186 | 18.8% |
Top Suppliers of Bicycle to South Korea in 2022:
- China (1242.9K units)
- Taiwan (Chinese) (55.3K units)
Bicycle Exports in South Korea
In 2022, approx. 51K units of bicycles and other cycles were exported from South Korea; with a decrease of -8.6% on the year before. In general, exports saw a mild decrease. The pace of growth appeared the most rapid in 2021 with an increase of 45%. As a result, the exports attained the peak of 56K units, and then reduced in the following year.
In value terms, bicycle exports dropped slightly to $5.1M in 2022. The total export value increased at an average annual rate of +2.1% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 5.9% against the previous year. Over the period under review, the exports attained the maximum at $5.1M in 2021, and then reduced slightly in the following year.
| Export of Bicycle in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | 2,186 | 2,343 | 2,031 | 1,862 | -5.2% |
| Kyrgyzstan | 124 | 32.1 | 101 | 544 | 63.7% |
| Tajikistan | 148 | 67.8 | 343 | 297 | 26.1% |
| Philippines | 65.5 | 109 | 208 | 216 | 48.8% |
| Tanzania | 92.1 | 500 | 126 | 209 | 31.4% |
| Kenya | 102 | 165 | 186 | 161 | 16.4% |
| United States | 249 | 315 | 232 | 120 | -21.6% |
| Ghana | 101 | 89.4 | 105 | 90.8 | -3.5% |
| Uganda | 243 | 2.0 | 11.7 | 68.9 | -34.3% |
| Iraq | 57.0 | 34.7 | 18.4 | 40.2 | -11.0% |
| Malawi | 41.3 | 34.1 | 32.1 | 25.2 | -15.2% |
| Others | 1,371 | 1,371 | 1,724 | 1,456 | 2.0% |
| Total | 4,780 | 5,064 | 5,118 | 5,091 | 2.1% |
Top Export Markets for Bicycle from South Korea in 2022:
- Nigeria (24.3K units)
- Tajikistan (4.7K units)
- Kyrgyzstan (4.6K units)
- Philippines (4.3K units)
- Kenya (1.8K units)
- Tanzania (1.4K units)
- Ghana (1.3K units)
- Uganda (1.3K units)
- Iraq (1.0K units)
- Malawi (1.0K units)
- United States (0.6K units)
This report provides an in-depth analysis of the bicycle market in Republic of Korea. 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:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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
-
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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This report provides an in-depth analysis of the bicycle market in Republic of Korea.
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This report provides an in-depth analysis of the global bicycle market.
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This report provides an in-depth analysis of the bicycle market in Republic of Korea.
3769
This report provides an in-depth analysis of the global bicycle market.
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Explore the top import markets for bicycles and their key statistics. Discover the booming bicycle industry and the countries driving its growth. Find out the latest import values and trends in the global bicycle market.
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In 2019, the global bicycle market increased by 0.4% to $18.8B, rising for the fourth consecutive year after four...
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In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
891
In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
1923
The global trade in bicycles amounted to X million USD in 2015, fluctuating mildly over the period under review. A significant drop in 2009 was followed by robust growth over next three years, until it levelled off thro
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Canyon Bicycles, a well-known German bicycle producer, has announced the opening of an office in Melbourne, Australia, as well as the launching of direct sales in New Zealand. The new office will act as a representative of Canyon Bicycles, participatin
217
Explore the top import markets for bicycles and their key statistics. Discover the booming bicycle industry and the countries driving its growth. Find out the latest import values and trends in the global bicycle market.
534
In 2019, the global bicycle market increased by 0.4% to $18.8B, rising for the fourth consecutive year after four...
1096
In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
891
In 2016, the amount of bike imported worldwide stood at X tons, import ,therefore, remained relatively stable against the previous year figure. Overall, it indicated a moderate expansion from X>
