Africa: Bicycle Market 2024

Bicycle Market Size in Africa

The African bicycle market shrank to $X in 2021, which is down by -8.2% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +19.8% against 2019 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Bicycle Production in Africa

In value terms, bicycle production dropped notably to $X in 2021 estimated in export price. In general, production, however, showed a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 146%. The level of production peaked at $X in 2020, and then fell significantly in the following year.

Bicycle Exports

Exports in Africa

In 2021, shipments abroad of bicycles and other cycles increased by 49% to X units, rising for the third consecutive year after three years of decline. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +100.1% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, bicycle exports soared to $X in 2021. Overall, exports showed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Tunisia prevails in exports structure, finishing at X units, which was approx. 80% of total exports in 2021. South Africa (X units) ranks second in terms of the total exports with an 8.4% share, followed by Mauritius (4.8%). Burkina Faso (X units) held a little share of total exports.

Exports from Tunisia increased at an average annual rate of +5.6% from 2012 to 2021. At the same time, Burkina Faso (+71.0%), Mauritius (+25.0%) and South Africa (+13.3%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Africa, with a CAGR of +71.0% from 2012-2021. While the share of Mauritius (+3.6 p.p.), South Africa (+3.3 p.p.) and Burkina Faso (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Tunisia (-11.1 p.p.) displayed negative dynamics.

In value terms, Tunisia ($X) remains the largest bicycle supplier in Africa, comprising 83% of total exports. The second position in the ranking was held by Mauritius ($X), with an 8% share of total exports. It was followed by South Africa, with a 7.1% share.

In Tunisia, bicycle exports increased at an average annual rate of +6.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mauritius (+39.8% per year) and South Africa (-1.0% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per unit, rising by 7.9% against the previous year. Over the period under review, the export price, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 15% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mauritius ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritius (+11.9%), while the other leaders experienced mixed trends in the export price figures.

Bicycle Imports

Imports in Africa

In 2021, purchases abroad of bicycles and other cycles increased by 11% to X units, rising for the fourth year in a row after two years of decline. Total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.0% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 28% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, bicycle imports reached $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.4% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Ghana (X units) and South Africa (X units) were the key importers of bicycles and other cycles in 2021, recording near 18% and 17% of total imports, respectively. It was distantly followed by Nigeria (X units), Morocco (X units) and Tanzania (X units), together mixing up a 19% share of total imports. Kenya (X units), Algeria (X units), Libya (X units), Cote d'Ivoire (X units), Mozambique (X units), Sudan (X units), Malawi (X units) and Tunisia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mozambique (with a CAGR of +75.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle importing markets in Africa were South Africa ($X), Algeria ($X) and Ghana ($X), together comprising 33% of total imports. These countries were followed by Nigeria, Mozambique, Morocco, Libya, Cote d'Ivoire, Kenya, Sudan, Tanzania, Tunisia and Malawi, which together accounted for a further 39%.

Cote d'Ivoire, with a CAGR of +24.8%, saw the highest growth rate of 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

In 2021, the import price in Africa amounted to $X per unit, with an increase of 3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2016 when the import price increased by 17%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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 Algeria ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+16.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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