Italy: Bicycle Market 2024

Bicycle Market Size in Italy

In 2021, the Italian bicycle market decreased by -80.2% to $X, falling for the third consecutive year after three years of growth. Overall, consumption showed a abrupt slump. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Bicycle Production in Italy

In value terms, bicycle production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 47%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Bicycle Exports

Exports from Italy

In 2021, the amount of bicycles and other cycles exported from Italy expanded rapidly to X units, rising by 13% on 2020 figures. The total export volume increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 42%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, bicycle exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.0% against 2015 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 38% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

France (X units) was the main destination for bicycle exports from Italy, with a 43% share of total exports. Moreover, bicycle exports to France exceeded the volume sent to the second major destination, Spain (X units), threefold. The third position in this ranking was held by Germany (X units), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+7.4% per year) and Germany (+16.6% per year).

In value terms, France ($X) remains the key foreign market for bicycles and other cycles exports from Italy, comprising 33% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by Spain, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+16.4% per year) and Spain (+10.4% per year).

Export Prices by Country

In 2021, the average bicycle export price amounted to $X per unit, growing by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2018 an increase of 17%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Spain ($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 Poland (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into Italy

Bicycle imports into Italy soared to X units in 2021, increasing by 38% compared with the previous year. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 49%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, bicycle imports surged to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 42%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Portugal (X units), Romania (X units) and Tunisia (X units) were the main suppliers of bicycle imports to Italy, together comprising 45% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +37.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Portugal ($X) appeared to be the largest bicycle suppliers to Italy, together comprising 50% of total imports. These countries were followed by Belgium, France, Spain, Taiwan (Chinese), Romania, Poland, Tunisia, Turkey, Sri Lanka and China, which together accounted for a further 41%.

In terms of the main suppliers, Romania, with a CAGR of +45.2%, saw the highest growth rate of the value of imports, 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, remaining relatively unchanged against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bicycle import price decreased by -4.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 53% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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