Central Asia: Bicycle Market 2024

Bicycle Market Size in Central Asia

For the third consecutive year, the Central Asian bicycle market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Bicycle Production in Central Asia

In value terms, bicycle production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Bicycle Exports

Exports in Central Asia

In 2022, after two years of growth, there was decline in shipments abroad of bicycles and other cycles, when their volume decreased by X% to X units. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, bicycle exports amounted to $X in 2022. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Uzbekistan represented the key exporting country with an export of about X units, which reached X% of total exports. It was distantly followed by Kazakhstan (X units), committing a X% share of total exports.

Uzbekistan was also the fastest-growing in terms of the bicycles and other cycles exports, with a CAGR of X% from 2012 to 2022. At the same time, Kazakhstan (X%) displayed positive paces of growth. While the share of Uzbekistan (X p.p.) and Kazakhstan (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) remains the largest bicycle supplier in Central Asia, comprising X% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total exports.

In Uzbekistan, bicycle exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, saw a dramatic shrinkage. The pace of growth was the most pronounced in 2019 an increase of X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while Uzbekistan totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%).

Bicycle Imports

Imports in Central Asia

In 2022, the amount of bicycles and other cycles imported in Central Asia reduced sharply to X units, with a decrease of X% against the year before. In general, imports, however, recorded moderate growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, bicycle imports shrank sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked at $X in 2021, and then declined dramatically in the following year.

Imports by Country

In 2022, Kazakhstan (X units) was the key importer of bicycles and other cycles, constituting X% of total imports. It was distantly followed by Turkmenistan (X units), Kyrgyzstan (X units), Uzbekistan (X units) and Tajikistan (X units), together achieving a X% share of total imports. Mongolia (X units) took a little share of total imports.

Kazakhstan experienced a relatively flat trend pattern with regard to volume of imports of bicycles and other cycles. At the same time, Uzbekistan (X%), Mongolia (X%), Tajikistan (X%), Kyrgyzstan (X%) and Turkmenistan (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Kyrgyzstan, Uzbekistan, Turkmenistan, Tajikistan and Mongolia increased by X, X, X, X and X percentage points, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported bicycles and other cycles in Central Asia, comprising X% of total imports. The second position in the ranking was taken by Turkmenistan ($X), with an X% share of total imports. It was followed by Uzbekistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan amounted to X%. In the other countries, the average annual rates were as follows: Turkmenistan (X% per year) and Uzbekistan (X% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per unit, stabilizing at the previous year. Import price indicated a remarkable increase 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 import price increased by X% against 2018 indices. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2021, and then dropped slightly in the following year.

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 Mongolia ($X per unit), while Tajikistan ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :