CIS: Bicycle Market 2024

Bicycle Market Size in CIS

The CIS bicycle market surged to $X in 2021, increasing by 59% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Bicycle Production in CIS

In value terms, bicycle production surged to $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable reduction. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Bicycle Exports

Exports in CIS

In 2021, the amount of bicycles and other cycles exported in the CIS surged to X units, with an increase of 22% on 2020 figures. In general, exports saw a strong increase. The pace of growth appeared the most rapid in 2018 when exports increased by 94% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, bicycle exports soared to $X in 2021. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 110%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

In 2021, Belarus (X units) and Russia (X units) were the major exporters of bicycles and other cycles in the CIS, together committing 86% of total exports. It was distantly followed by Uzbekistan (X units), creating a 13% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Uzbekistan (with a CAGR of +747.4%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the largest bicycle supplier in the CIS, comprising 61% of total exports. The second position in the ranking was held by Belarus ($X), with a 30% share of total exports.

In Russia, bicycle exports expanded at an average annual rate of +18.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belarus (+0.7% per year) and Uzbekistan (+932.2% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per unit, increasing by 18% against the previous year. In general, the export price, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2020 when the export price increased by 46%. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per unit), while Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+22.8%), while the other leaders experienced a decline in the export price figures.

Bicycle Imports

Imports in CIS

In 2021, approx. X units of bicycles and other cycles were imported in the CIS; increasing by 34% compared with 2020. Over the period under review, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, bicycle imports soared to $X in 2021. In general, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia was the key importing country with an import of around X units, which accounted for 62% of total imports. Kazakhstan (X units) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (7.2%) and Azerbaijan (5.8%). Uzbekistan (X units) and Armenia (X units) held a little share of total imports.

Imports into Russia increased at an average annual rate of +5.5% from 2012 to 2021. At the same time, Uzbekistan (+75.2%), Azerbaijan (+58.5%), Belarus (+19.9%), Armenia (+10.7%) and Kazakhstan (+5.4%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +75.2% from 2012-2021. While the share of Azerbaijan (+5.8 p.p.), Belarus (+4.5 p.p.), Uzbekistan (+2.5 p.p.) and Armenia (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kazakhstan (-3.9 p.p.) and Russia (-12.9 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported bicycles and other cycles in the CIS, comprising 69% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 15% share of total imports. It was followed by Belarus, with a 7.2% share.

In Russia, bicycle imports expanded at an average annual rate of +7.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+14.1% per year) and Belarus (+17.3% per year).

Import Prices by Country

The import price in the CIS stood at $X per unit in 2021, increasing by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, import price attained 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 2021, amid the top importers, the country with the highest price was Russia ($X per unit), while Armenia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+30.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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