U.S.: Bicycle Market 2024

Bicycle Market Size in the U.S.

The U.S. bicycle market soared to $X in 2021, with an increase of 27% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed 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 the U.S.

In value terms, bicycle production amounted to $X in 2021. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 17% against the previous year. Bicycle production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

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Bicycle Exports

Exports from the U.S.

In 2021, approx. X units of bicycles and other cycles were exported from the United States; increasing by 35% on the previous year's figure. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 47% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, bicycle exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for bicycle exports from the United States, with a 77% share of total exports. Moreover, bicycle exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. The third position in this ranking was taken by Chile (X units), with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume to Canada amounted to +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-14.9% per year) and Chile (+6.5% per year).

In value terms, Canada ($X) remains the key foreign market for bicycles and other cycles exports from the United States, comprising 70% of total exports. The second position in the ranking was taken by Japan ($X), with a 2.1% share of total exports. It was followed by Australia, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value to Canada totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-7.3% per year) and Australia (-10.5% per year).

Export Prices by Country

In 2021, the average bicycle export price amounted to $X per unit, declining by -10.8% against the previous year. In general, the export price showed a slight contraction. The most prominent rate of growth was recorded in 2020 an increase of 13%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into the U.S.

In 2021, approx. X units of bicycles and other cycles were imported into the United States; rising by 13% compared with 2020 figures. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 32%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, bicycle imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest bicycle supplier to the United States, with a 86% share of total imports. Moreover, bicycle imports from China exceeded the figures recorded by the second-largest supplier, Cambodia (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (+26.6% per year) and Taiwan (Chinese) (-0.1% per year).

In value terms, China ($X) constituted the largest supplier of bicycles and other cycles to the United States, comprising 54% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.2% per year) and Cambodia (+29.6% per year).

Import Prices by Country

In 2021, the average bicycle import price amounted to $X per unit, increasing by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, import 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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