Middle East: Bicycle Market 2024

Bicycle Market Size in the Middle East

The Middle Eastern bicycle market declined sharply to $X in 2022, which is down by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Bicycle Production in the Middle East

In value terms, bicycle production dropped markedly to $X in 2022 estimated in export price. In general, production, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Bicycle Exports

Exports in the Middle East

In 2022, overseas shipments of bicycles and other cycles increased by X% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, bicycle exports soared to $X in 2022. In general, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 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

In 2022, Turkey (X units) was the key exporter of bicycles and other cycles, comprising X% of total exports. It was distantly followed by the United Arab Emirates (X units) and Kuwait (X units), together mixing up a X% share of total exports. Oman (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to bicycle exports from Turkey stood at X%. At the same time, the United Arab Emirates (X%), Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. While the share of the United Arab Emirates (X p.p.), Kuwait (X p.p.) and Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest bicycle supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Oman ($X per unit) was amongst the lowest.

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

Bicycle Imports

Imports in the Middle East

In 2022, purchases abroad of bicycles and other cycles decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The volume of import peaked at X units in 2021, and then contracted dramatically in the following year.

In value terms, bicycle imports contracted remarkably to $X in 2022. Total imports indicated tangible growth 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. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2022, Iraq (X units), distantly followed by the United Arab Emirates (X units), Kuwait (X units), Iran (X units) and Israel (X units) represented the major importers of bicycles and other cycles, together generating X% of total imports. The following importers - Oman (X units) and Qatar (X units) - each reached an X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle importing markets in the Middle East were Iraq ($X), the United Arab Emirates ($X) and Israel ($X), together accounting for X% of total imports.

In terms of the main importing countries, Iraq, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2022 and is expected to retain 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 Israel ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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