Report Update Apr 1, 2024

Vietnam - Bicycles and Other Cycles (Not Motorized) - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Bicycle Market 2024

Bicycle Market Size in Vietnam

For the third year in a row, the Vietnamese bicycle market recorded growth in sales value, which increased by 23% to $X in 2021. Over the period under review, consumption saw a strong expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Bicycle Production in Vietnam

In value terms, bicycle production declined remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 increased by +36.5% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 66% against the previous year. As a result, production reached the peak level of $X, and then declined rapidly in the following year.

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Bicycle Exports

Exports from Vietnam

In 2021, exports of bicycles and other cycles from Vietnam skyrocketed to X units, picking up by 17% against the previous year's figure. In general, exports showed a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 54% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, bicycle exports reduced modestly to $X in 2021. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 115% against the previous year. As a result, the exports reached the peak of $X, and then declined slightly in the following year.

Exports by Country

The Netherlands (X units), Canada (X units) and the UK (X units) were the main destinations of bicycle exports from Vietnam, with a combined 59% share of total exports. These countries were followed by the United States, Germany, Japan, India, Australia and Italy, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +96.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bicycle exported from Vietnam were the United States ($X), the Netherlands ($X) and Canada ($X), with a combined 63% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +103.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bicycle export price amounted to $X per unit, with a decrease of -16.2% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bicycle export price increased by +44.5% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 40%. As a result, the export price reached the peak level of $X per unit, and then dropped notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Australia ($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 the United States (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into Vietnam

For the fifth year in a row, Vietnam recorded growth in overseas purchases of bicycles and other cycles, which increased by 26% to X units in 2021. Overall, imports showed significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 2,783% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, bicycle imports skyrocketed to $X in 2021. Over the period under review, imports saw a significant expansion. The growth pace was the most rapid in 2015 with an increase of 2,434% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main bicycle supplier to Vietnam, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +88.0%.

In value terms, China ($X) constituted the largest supplier of bicycles and other cycles to Vietnam.

From 2012 to 2021, the average annual growth rate of value from China totaled +86.6%.

Import Prices by Country

The average bicycle import price stood at $X per unit in 2021, with an increase of 62% against the previous year. Overall, the import price, however, showed a abrupt shrinkage. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -0.7% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bicycles and other cycles in the world?

The countries with the highest volumes of consumption in 2021 were Paraguay, the United States and China, with a combined 42% share of global consumption. India, Brazil, the Philippines, Japan, Russia, Indonesia, Germany, Nigeria, the UK and the Netherlands lagged somewhat behind, together accounting for a further 28%.

What are the largest producers of bicycles and other cycles in the world?

China constituted the country with the largest volume of bicycle production, accounting for 57% of total volume. Moreover, bicycle production in China exceeded the figures recorded by the second-largest producer, India, sevenfold. Brazil ranked third in terms of total production with a 4.5% share.

What are the leading suppliers of bicycles and other cycles to Vietnam?

In value terms, China constituted the largest supplier of bicycles and other cycles to Vietnam.

What are the leading importers of bicycles and other cycles from Vietnam?

In value terms, the United States, the Netherlands and Canada constituted the largest markets for bicycle exported from Vietnam worldwide, together comprising 63% of total exports.

What is the average export price for bicycles and other cycles in Vietnam?

The average bicycle export price stood at $214 per unit in 2021, declining by -16.2% against the previous year.

What is the average import price for bicycles and other cycles in Vietnam?

The average bicycle import price stood at $103 per unit in 2021, jumping by 62% against the previous year.

This report provides an in-depth analysis of the bicycle market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 30921000 - Bicycles and other cycles (including delivery tricycles), nonmotorised
Prodcom 30921030 -
Prodcom 30921050 -

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023