Report Update Nov 1, 2024

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

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Cuba: Bicycle Market 2024

Bicycle Market Size in Cuba

In 2021, the Cuban bicycle market decreased by -24.6% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a tangible increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Bicycle Production in Cuba

In value terms, bicycle production skyrocketed to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 99% against the previous year. 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 Cuba

In 2021, the amount of bicycles and other cycles exported from Cuba skyrocketed to X units, picking up by 123% compared with the previous year's figure. In general, exports saw a notable increase. The pace of growth was the most pronounced in 2015 with an increase of 197%. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, bicycle exports soared to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Guatemala (X units) and Chile (X units) were the main destinations of bicycle exports from Cuba.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +41.4%).

In value terms, the largest markets for bicycle exported from Cuba were Guatemala ($X) and Chile ($X).

Among the main countries of destination, Guatemala, with a CAGR of +74.6%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average bicycle export price stood at $X per unit in 2021, with an increase of 5.1% against the previous year. Overall, the export price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 63%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Chile totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+16.0%).

Bicycle Imports

Imports into Cuba

In 2021, after two years of growth, there was decline in purchases abroad of bicycles and other cycles, when their volume decreased by -3.4% to X units. In general, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2019 when imports increased by 146% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020, and then fell slightly in the following year.

In value terms, bicycle imports declined markedly to $X in 2021. Over the period under review, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 161%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Panama (X units) was the main bicycle supplier to Cuba, accounting for a 91% share of total imports. It was followed by China (X units), with a 3% share of total imports. The Dominican Republic (X units) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume from Panama totaled +53.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.2% per year) and the Dominican Republic (+76.5% per year).

In value terms, Panama ($X) constituted the largest supplier of bicycles and other cycles to Cuba, comprising 93% of total imports. The second position in the ranking was taken by China ($X), with a 1.9% share of total imports. It was followed by the Dominican Republic, with a 0.9% share.

From 2012 to 2021, the average annual growth rate of value from Panama totaled +45.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.2% per year) and the Dominican Republic (+69.4% per year).

Import Prices by Country

The average bicycle import price stood at $X per unit in 2021, reducing by -38.5% against the previous year. Over the period under review, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of 66%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Panama ($X per unit), while the price for the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

South Africa remains the largest bicycle consuming country worldwide, accounting for 47% of total volume. Moreover, bicycle consumption in South Africa exceeded the figures recorded by the second-largest consumer, the United States, fivefold. India ranked third in terms of total consumption with a 5.2% share.

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

The country with the largest volume of bicycle production was China, comprising approx. 61% 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 4.7% share.

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

In value terms, Panama constituted the largest supplier of bicycle to Cuba, comprising 83% of total imports. The second position in the ranking was occupied by China, with a 9.1% share of total imports.

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

In value terms, Guatemala $349) remains the key foreign market for bicycle exports from Cuba.

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

The average bicycle export price stood at $52 per unit in 2021, which is down by -54% against the previous year.

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

The average bicycle import price stood at $32 per unit in 2021, reducing by -6.9% against the previous year.

This report provides an in-depth analysis of the bicycle market in Cuba. 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:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
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