India: Bicycle Market 2025

Bicycle Market Size in India

In 2021, the Indian bicycle market increased by 8.7% to $X for the first time since 2016, thus ending a four-year declining trend. In general, consumption recorded a noticeable increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Bicycle Production in India

In value terms, bicycle production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible slump. The growth pace was the most rapid in 2014 with an increase of 71% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Bicycle Exports

Exports from India

In 2021, overseas shipments of bicycles and other cycles were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.4% from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, bicycle exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nepal (X units), Mozambique (X units) and the UK (X units) were the main destinations of bicycle exports from India, with a combined 49% share of total exports. These countries were followed by the Netherlands, Zambia, Poland, Uganda, Germany, Malawi, Chad, Sweden, the United States and Bangladesh, which together accounted for a further 36%.

From 2013 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +234.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bicycle exported from India were Nepal ($X), Mozambique ($X) and the Netherlands ($X), with a combined 45% share of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +239.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bicycle export price amounted to $X per unit, increasing by 13% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into India

In 2021, supplies from abroad of bicycles and other cycles was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bicycle imports surged to $X in 2021. Over the period under review, imports posted a prominent expansion. As a result, imports reached 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 India, with a 62% share of total imports. Moreover, bicycle imports from China exceeded the figures recorded by the second-largest supplier, Sri Lanka (X units), twofold. Bangladesh (X units) ranked third in terms of total imports with a 7.5% share.

From 2013 to 2021, the average annual growth rate of volume from China totaled +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+29.2% per year) and Bangladesh (+14.9% per year).

In value terms, China ($X), Sri Lanka ($X) and Bangladesh ($X) appeared to be the largest bicycle suppliers to India, together comprising 87% of total imports. These countries were followed by Indonesia and Malaysia, which together accounted for a further 5.2%.

Indonesia, with a CAGR of +32.4%, 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

The average bicycle import price stood at $X per unit in 2021, dropping by -31% against the previous year. In general, the import price showed a noticeable contraction. The most prominent rate of growth was recorded in 2014 an increase of 13%. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 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 Bangladesh ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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