Russian Federation: Bicycle Lighting Market 2024

Bicycle Lighting Market Size in the Russian Federation

In 2021, the Russian bicycle lighting market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption posted significant growth. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Bicycle Lighting Production in the Russian Federation

In value terms, bicycle lighting production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Bicycle Lighting Exports

Exports from the Russian Federation

In 2021, exports of electrical or battery operated lighting or visual signalling for bicycles from Russia soared to X units, increasing by 19% compared with the previous year's figure. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2013 with an increase of 136%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, bicycle lighting exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 60%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Belarus (X units) was the main destination for bicycle lighting exports from Russia, with a 95% share of total exports. Moreover, bicycle lighting exports to Belarus exceeded the volume sent to the second major destination, Georgia (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus amounted to +60.5%.

In value terms, Belarus ($X) remains the key foreign market for electrical or battery operated lighting or visual signalling for bicycles exports from Russia, comprising 88% of total exports. The second position in the ranking was taken by Georgia ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Belarus amounted to +56.4%.

Export Prices by Country

The average bicycle lighting export price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Overall, the export price, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when the average export price increased by 9.7%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per unit), while the average price for exports to Georgia stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.5%), while the prices for the other major destinations experienced mixed trend patterns.

Bicycle Lighting Imports

Imports into the Russian Federation

In 2021, imports of electrical or battery operated lighting or visual signalling for bicycles into Russia skyrocketed to X units, increasing by 59% against the previous year. In general, imports saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 72% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, bicycle lighting imports skyrocketed to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.0% against 2019 indices. 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) was the main bicycle lighting supplier to Russia, with a 95% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 1.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +18.1%.

In value terms, China ($X) constituted the largest supplier of electrical or battery operated lighting or visual signalling for bicycles to Russia, comprising 76% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.5%.

Import Prices by Country

The average bicycle lighting import price stood at $X per unit in 2021, with a decrease of -11.6% against the previous year. In general, the import price showed a deep slump. The pace of growth was the most pronounced in 2015 when the average import price increased by 38%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, 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 Taiwan (Chinese) ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :