Southern Asia: Bicycle Market 2024

Bicycle Market Size in Southern Asia

In 2022, the South Asian bicycle market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption showed a slight decrease. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Bicycle Production in Southern Asia

In value terms, bicycle production contracted modestly to $X in 2022 estimated in export price. Overall, production saw a noticeable contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Bicycle Exports

Exports in Southern Asia

Bicycle exports reduced to X units in 2022, shrinking by X% on the previous year's figure. Total exports indicated a remarkable increase from 2012 to 2022: its volume 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, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then contracted in the following year.

In value terms, bicycle exports expanded remarkably to $X in 2022. In general, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Bangladesh was the main exporting country with an export of about X units, which finished at X% of total exports. It was distantly followed by India (X units) and Sri Lanka (X units), together comprising a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Bangladesh ($X) remains the largest bicycle supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Bangladesh totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, surging by X% against the previous year. Export price indicated measured growth 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 export price increased by X% against 2016 indices. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while India ($X per unit) was amongst the lowest.

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

Bicycle Imports

Imports in Southern Asia

Bicycle imports shrank dramatically to X units in 2022, dropping by X% against 2021. In general, imports, however, enjoyed perceptible growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, bicycle imports fell rapidly to $X in 2022. Overall, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X units), Bangladesh (X units) and Nepal (X units) represented the main importer of bicycles and other cycles in Southern Asia, mixing up X% of total import. It was distantly followed by Pakistan (X units), comprising an X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle importing markets in Southern Asia were India ($X), Bangladesh ($X) and Nepal ($X), with a combined X% share of total imports.

Nepal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 Southern Asia stood at $X per unit in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 India ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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