Luxembourg: Bicycle Market 2024

Bicycle Market Size in Luxembourg

In 2021, the Luxembourg bicycle market decreased by -16.7% to $X for the first time since 2013, thus ending a seven-year rising trend. Overall, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Bicycle consumption peaked at $X in 2020, and then declined sharply in the following year.

Bicycle Exports

Exports from Luxembourg

In 2021, shipments abroad of bicycles and other cycles decreased by -70.2% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 277% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, bicycle exports reduced notably to $X in 2021. In general, exports showed a slight shrinkage. The growth pace was the most rapid in 2015 when exports increased by 407% 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

Belgium (X units), Germany (X units) and the UK (X units) were the main destinations of bicycle exports from Luxembourg, together accounting for 85% of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +20.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Belgium ($X) and Switzerland ($X) appeared to be the largest markets for bicycle exported from Luxembourg worldwide, with a combined 87% share of total exports. These countries were followed by Germany, France and China, which together accounted for a further 11%.

China, with a CAGR of +42.7%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2021, the average bicycle export price amounted to $X per unit, remaining constant against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bicycle export price increased by +68.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 50%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to China ($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 China (+32.3%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into Luxembourg

In 2021, approx. X units of bicycles and other cycles were imported into Luxembourg; falling by -7.9% against the previous year's figure. Overall, imports saw a perceptible downturn. The pace of growth appeared the most rapid in 2015 with an increase of 25%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, bicycle imports reduced dramatically to $X in 2021. Over the period under review, imports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2020 with an increase of 39% against the previous year. As a result, imports attained the peak of $X, and then dropped notably in the following year.

Imports by Country

Germany (X units), Belgium (X units) and the Netherlands (X units) were the main suppliers of bicycle imports to Luxembourg, with a combined 75% share of total imports. France, Austria, Italy, the UK, China and Taiwan (Chinese) lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +75.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of bicycles and other cycles to Luxembourg, comprising 45% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 21% share of total imports. It was followed by Belgium, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+12.8% per year) and Belgium (+5.6% per year).

Import Prices by Country

In 2021, the average bicycle import price amounted to $X per unit, declining by -13.6% against the previous year. Over the period under review, the import price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 73%. As a result, import price attained the peak level of $X per unit, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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