Puerto Rico: Motorcycle And Bicycle Market 2024

Motorcycle And Bicycle Market Size in Puerto Rico

In 2021, the Puerto Rican motorcycle and bicycle market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -21.4% against 2016 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Motorcycle And Bicycle Production in Puerto Rico

In value terms, motorcycle and bicycle production expanded remarkably to $X in 2021 estimated in export price. Overall, the total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -33.2% against 2016 indices. The pace of growth appeared the most rapid in 2015 with an increase of 65%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Motorcycle And Bicycle Exports

Exports from Puerto Rico

In 2021, approx. less than X units of motorcycles and bicycles were exported from Puerto Rico; flattening at the previous year. Over the period under review, exports showed a relatively flat trend pattern.

In value terms, motorcycle and bicycle exports amounted to less than $X in 2021. Overall, exports recorded a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, finishing at X units, which was near 69% of total exports in 2021. India (X units), Japan (X units), Taiwan (Chinese) (X units), the Netherlands (X units), Cambodia (X units) and Italy (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to motorcycle and bicycle exports from China stood at +4.8%. At the same time, India (+12.9%), the Netherlands (+8.2%), Italy (+5.4%) and Cambodia (+4.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.9% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-10.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and India increased by +3.2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest motorcycle and bicycle supplier from Puerto Rico, comprising 32% of global exports. The second position in the ranking was taken by the Netherlands ($X), with a 6% share of global exports. It was followed by India, with a 5.5% share.

In China, motorcycle and bicycle exports increased at an average annual rate of +8.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+12.8% per year) and India (+9.6% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per thousand units, approximately mirroring the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per thousand units), while China ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.7%), while the other leaders experienced more modest paces of growth.

Motorcycle And Bicycle Imports

Imports into Puerto Rico

In 2021, the amount of motorcycles and bicycles imported into Puerto Rico was estimated at less than X units, leveling off at the previous year. Overall, imports showed a relatively flat trend pattern.

In value terms, motorcycle and bicycle imports amounted to less than $X in 2021. In general, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X units), distantly followed by Pakistan (X units), the Philippines (X units) and Japan (X units) represented the main importers of motorcycles and bicycles, together generating 34% of total imports. The Netherlands (X units), Germany (X units), the UK (X units), France (X units), India (X units), Russia (X units), Canada (X units), Belgium (X units) and Chile (X units) took a relatively small share of total imports.

Imports into the United States increased at an average annual rate of +2.6% from 2012 to 2021. At the same time, India (+94.8%), the Philippines (+20.3%), the Netherlands (+13.7%), Chile (+12.8%), Canada (+8.5%), Belgium (+6.0%), Pakistan (+5.3%), Russia (+4.7%), France (+4.0%), Germany (+2.2%) and the UK (+1.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +94.8% from 2012-2021. By contrast, Japan (-2.8%) illustrated a downward trend over the same period. While the share of the Philippines (+4.1 p.p.), India (+2.8 p.p.) and the Netherlands (+2.1 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of the United States (-4.4 p.p.) and Japan (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest motorcycle and bicycle importing markets into Puerto Rico were the United States ($X), Germany ($X) and the Netherlands ($X), with a combined 28% share of total imports. These countries were followed by France, Belgium, the Philippines, Japan, the UK, Canada, Russia, Chile, India and Pakistan, which together accounted for a further 24%.

India, with a CAGR of +25.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per thousand units, remaining constant against the previous year. In general, the import price recorded a relatively flat trend pattern.

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 Germany ($X per thousand units), while Pakistan ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :