MENA: Bicycle Market 2024

Bicycle Market Size in MENA

The MENA's bicycle market skyrocketed to $X in 2021, rising by 23% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Bicycle Production in MENA

In value terms, bicycle production surged to $X in 2021 estimated in export price. Overall, production saw a prominent expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 68%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Bicycle Exports

Exports in MENA

In 2021, overseas shipments of bicycles and other cycles increased by 36% to X units, rising for the third year in a row after three years of decline. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +98.8% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, bicycle exports soared to $X in 2021. In general, exports recorded a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Tunisia (X units) and Turkey (X units) prevails in exports structure, together generating 96% of total exports. The United Arab Emirates (X units) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +9.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle supplying countries in MENA were Turkey ($X), Tunisia ($X) and the United Arab Emirates ($X), with a combined 99% share of total exports.

The United Arab Emirates, with a CAGR of +12.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, picking up by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Tunisia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.6%), while the other leaders experienced more modest paces of growth.

Bicycle Imports

Imports in MENA

In 2021, purchases abroad of bicycles and other cycles increased by 18% to X units, rising for the second year in a row after four years of decline. The total import volume increased at an average annual rate of +4.6% 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 2015 with an increase of 23% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, bicycle imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +91.1% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Saudi Arabia (X units), distantly followed by the United Arab Emirates (X units), Iraq (X units), Iran (X units), Israel (X units) and Morocco (X units) were the major importers of bicycles and other cycles, together mixing up 75% of total imports. Kuwait (X units), Yemen (X units), Qatar (X units), Oman (X units), Algeria (X units), Libya (X units) and Jordan (X units) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Jordan (with a CAGR of +26.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle importing markets in MENA were the United Arab Emirates ($X), Israel ($X) and Saudi Arabia ($X), together accounting for 54% of total imports. These countries were followed by Iran, Iraq, Algeria, Kuwait, Qatar, Morocco, Libya, Yemen, Oman and Jordan, which together accounted for a further 39%.

In terms of the main importing countries, Morocco, with a CAGR of +17.6%, saw the highest rates of growth with regard to 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 import price in MENA amounted to $X per unit, picking up by 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Algeria ($X per unit), while Jordan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform