South-Eastern Asia: Bicycle Market 2024

Bicycle Market Size in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in the Southeast Asian bicycle market, when its value decreased by X% to $X. The total consumption indicated a notable increase 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 level of consumption peaked at $X in 2021, and then dropped dramatically in the following year.

Bicycle Production in South-Eastern Asia

In value terms, bicycle production rose modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a prominent expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Bicycle Exports

Exports in South-Eastern Asia

In 2022, after three years of growth, there was significant decline in overseas shipments of bicycles and other cycles, when their volume decreased by X% to X units. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The volume of export peaked at X units in 2021, and then dropped notably in the following year.

In value terms, bicycle exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Cambodia was the key exporting country with an export of around X units, which recorded X% of total exports. Indonesia (X units) ranks second in terms of the total exports with a X% share, followed by Thailand (X%) and Vietnam (X%). Singapore (X units), Malaysia (X units) and the Philippines (X units) followed a long way behind the leaders.

Exports from Cambodia increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Malaysia and Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (X%) and the Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cambodia, Vietnam and the Philippines increased by X, X and X percentage points, respectively.

In value terms, Cambodia ($X) remains the largest bicycle supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cambodia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, jumping by X% against the previous year. Overall, the export price posted a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Bicycle Imports

Imports in South-Eastern Asia

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. Overall, imports, however, recorded a modest increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then plummeted in the following year.

In value terms, bicycle imports reduced notably to $X in 2022. Over the period under review, imports, however, showed a measured expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then shrank sharply in the following year.

Imports by Country

The Philippines represented the major importer of bicycles and other cycles in South-Eastern Asia, with the volume of imports amounting to X units, which was near X% of total imports in 2022. Thailand (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Malaysia (X%), Myanmar (X%) and Singapore (X%). Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to bicycle imports into the Philippines stood at X%. At the same time, Myanmar (X%), Thailand (X%), Cambodia (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) and Indonesia (X%) illustrated a downward trend over the same period. While the share of the Philippines (X p.p.), Thailand (X p.p.), Myanmar (X p.p.) and Cambodia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.) and Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bicycle importing markets in South-Eastern Asia were Malaysia ($X), Singapore ($X) and Thailand ($X), with a combined X% share of total imports. Indonesia, the Philippines, Cambodia and Myanmar lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in South-Eastern Asia stood at $X per unit in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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 Singapore ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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