Report Update Nov 1, 2024

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

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Dominican Republic: Bicycle Market 2024

Bicycle Market Size in the Dominican Republic

The Dominican bicycle market surged to $X in 2021, with an increase of 55% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Bicycle Exports

Exports from the Dominican Republic

In 2021, approx. X units of bicycles and other cycles were exported from the Dominican Republic; jumping by 121% compared with 2020. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 607% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, bicycle exports soared to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 915% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Haiti (X units), South Korea (X units) and Cuba (X units) were the main destinations of bicycle exports from the Dominican Republic, with a combined 88% share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +1,132.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X) emerged as the key foreign market for bicycles and other cycles exports from the Dominican Republic, comprising 55% of total exports. The second position in the ranking was taken by Cuba ($X), with a 16% share of total exports. It was followed by the United States, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Haiti totaled +62.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+52.8% per year) and the United States (+44.1% per year).

Export Prices by Country

The average bicycle export price stood at $X per unit in 2021, with a decrease of -19.3% against the previous year. In general, the export price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2015 an increase of 67% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to France ($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 South Korea (+265.8%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into the Dominican Republic

In 2021, approx. X units of bicycles and other cycles were imported into the Dominican Republic; increasing by 22% against 2020 figures. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 46% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, bicycle imports skyrocketed to $X in 2021. Overall, imports saw buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of bicycle to the Dominican Republic, accounting for a 89% share of total imports. Moreover, bicycle imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +24.5%.

In value terms, China ($X) constituted the largest supplier of bicycles and other cycles to the Dominican Republic, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +15.8%.

Import Prices by Country

In 2021, the average bicycle import price amounted to $X per unit, surging by 58% against the previous year. Over the period under review, the import price, however, showed a abrupt slump. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.3%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

South Africa constituted the country with the largest volume of bicycle consumption, comprising approx. 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?

China constituted the country with the largest volume of bicycle production, accounting for 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 the Dominican Republic?

In value terms, China constituted the largest supplier of bicycle to the Dominican Republic, comprising 74% of total imports. The second position in the ranking was occupied by the United States, with a 10% share of total imports. It was followed by Taiwan Chinese), with a 6.2% share.

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

In value terms, Cuba remains the key foreign market for bicycle exports from the Dominican Republic, comprising 90% of total exports. The second position in the ranking was occupied by the United States, with a 3.6% share of total exports. It was followed by Haiti, with a 2.9% share.

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

In 2021, the average bicycle export price amounted to $81 per unit, with an increase of 98% against the previous year.

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

The average bicycle import price stood at $108 per unit in 2021, picking up by 8.9% against the previous year.

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

Dominican Republic

Data coverage:

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