Asia: Bicycle Lighting Market 2024

Bicycle Lighting Market Size in Asia

In 2021, the Asian bicycle lighting market decreased by -18.5% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption showed a mild downturn. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Bicycle Lighting Production in Asia

In value terms, bicycle lighting production shrank to $X in 2021 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +7.8% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Bicycle Lighting Exports

Exports in Asia

In 2021, overseas shipments of electrical or battery operated lighting or visual signalling for bicycles increased by 19% to X units, rising for the fourth consecutive year after three years of decline. Overall, exports recorded moderate growth. The most prominent rate of growth was recorded in 2018 with an increase of 162% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, bicycle lighting exports skyrocketed to $X in 2021. In general, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 66%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

China dominates exports structure, reaching X units, which was near 92% of total exports in 2021. The following exporters - Hong Kong SAR (X units) and Taiwan (Chinese) (X units) - each resulted at a 6.1% share of total exports.

China was also the fastest-growing in terms of the electrical or battery operated lighting or visual signalling for bicycles exports, with a CAGR of +6.4% from 2012 to 2021. Hong Kong SAR (-5.4%) and Taiwan (Chinese) (-8.9%) illustrated a downward trend over the same period. China (+14 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR and Taiwan (Chinese) saw its share reduced by -4.4% and -7.5% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest bicycle lighting supplier in Asia, comprising 78% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total exports.

In China, bicycle lighting exports expanded at an average annual rate of +12.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.2% per year) and Hong Kong SAR (-1.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, picking up by 6.5% against the previous year. In general, the export price continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2017 when the export price increased by 76% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2021, the export prices remained at a somewhat lower figure.

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 Taiwan (Chinese) ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.5%), while the other leaders experienced more modest paces of growth.

Bicycle Lighting Imports

Imports in Asia

In 2021, purchases abroad of electrical or battery operated lighting or visual signalling for bicycles increased by 27% to X units, rising for the second year in a row after four years of decline. Total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% 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 +66.2% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 31%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, bicycle lighting imports soared to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.1% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X units), distantly followed by Indonesia (X units), Hong Kong SAR (X units), Turkey (X units), Vietnam (X units), South Korea (X units), Taiwan (Chinese) (X units) and the United Arab Emirates (X units) represented the main importers of electrical or battery operated lighting or visual signalling for bicycles, together creating 77% of total imports. India (X units), Thailand (X units), Bangladesh (X units), Iraq (X units) and Singapore (X units) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +35.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported electrical or battery operated lighting or visual signalling for bicycles in Asia, comprising 29% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Japan stood at +1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+3.9% per year) and Taiwan (Chinese) (+15.0% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, rising by 2.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2013 an increase of 18%. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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