Belgium: Bicycle Market 2024

Bicycle Market Size in Belgium

In 2021, after four years of growth, there was significant decline in the Belgian bicycle market, when its value decreased by -18.6% to $X. Overall, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then contracted notably in the following year.

Bicycle Production in Belgium

In value terms, bicycle production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 410%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Bicycle Exports

Exports from Belgium

In 2021, shipments abroad of bicycles and other cycles increased by 4.6% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, showed a noticeable slump. The pace of growth was the most pronounced in 2020 with an increase of 388% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, bicycle exports shrank markedly to $X in 2021. Over the period under review, exports, however, saw a mild downturn. The most prominent rate of growth was recorded in 2020 with an increase of 685%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X units), Germany (X units) and France (X units) were the main destinations of bicycle exports from Belgium, together accounting for 63% of total exports. These countries were followed by Poland, Sweden, Italy, Spain, Denmark, Austria, the Czech Republic, Portugal and the UK, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +54.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bicycle exported from Belgium were Germany ($X), France ($X) and Spain ($X), with a combined 48% share of total exports. These countries were followed by the Netherlands, Italy, Sweden, Poland, Austria, Denmark, the Czech Republic, Portugal and the UK, which together accounted for a further 44%.

Denmark, with a CAGR of +47.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bicycle export price stood at $X per unit in 2021, declining by -24.4% against the previous year. In general, the export price, however, posted a notable increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 61% against the previous year. As a result, the export price reached the peak level of $X per unit, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to the Netherlands ($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 Spain (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into Belgium

In 2021, supplies from abroad of bicycles and other cycles increased by 2.8% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 180%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, bicycle imports declined dramatically to $X in 2021. In general, imports showed a mild expansion. The growth pace was the most rapid in 2020 when imports increased by 203% against the previous year. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

The Netherlands (X units), Cambodia (X units) and Italy (X units) were the main suppliers of bicycle imports to Belgium, with a combined 60% share of total imports. Portugal, Romania, Germany, France, Bulgaria, Hungary, China, Taiwan (Chinese), Spain and Sri Lanka lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +43.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Cambodia ($X) and Germany ($X) appeared to be the largest bicycle suppliers to Belgium, with a combined 65% share of total imports. These countries were followed by Bulgaria, Italy, Hungary, Taiwan (Chinese), Portugal, France, Romania, Spain, China and Sri Lanka, which together accounted for a further 32%.

Hungary, with a CAGR of +31.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average bicycle import price amounted to $X per unit, shrinking by -19.4% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 an increase of 39% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then shrank sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+22.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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