Southern Asia: Bicycle Market 2025

Bicycle Market Size in Southern Asia

After two years of growth, the South Asian bicycle market decreased by -8.4% to $X in 2021. In general, consumption saw a relatively flat trend pattern. 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 Southern Asia

In value terms, bicycle production fell modestly to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2014 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Bicycle Exports

Exports in Southern Asia

In 2021, the amount of bicycles and other cycles exported in Southern Asia surged to X units, jumping by 68% on the previous year's figure. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +9.6% 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 +69.9% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

Exports by Country

In 2021, Bangladesh (X units) and India (X units) represented the major exporters of bicycles and other cycles in Southern Asia, together recording approx. 79% of total exports. It was distantly followed by Sri Lanka (X units), making up a 21% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +10.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Bangladesh ($X) remains the largest bicycle supplier in Southern Asia, comprising 66% of total exports. The second position in the ranking was held by India ($X), with a 17% share of total exports.

In Bangladesh, bicycle exports expanded at an average annual rate of +10.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+3.1% per year) and Sri Lanka (+0.1% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, rising by 30% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Bicycle Imports

Imports in Southern Asia

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. Over the period under review, imports saw prominent growth. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, bicycle imports soared to $X in 2021. In general, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 77%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X units) represented the key importer of bicycles and other cycles, making up 48% of total imports. Bangladesh (X units) ranks second in terms of the total imports with a 17% share, followed by Nepal (15%), Pakistan (10%) and Sri Lanka (8.4%).

From 2012 to 2021, average annual rates of growth with regard to bicycle imports into India stood at +19.8%. At the same time, Nepal (+44.1%), Bangladesh (+12.1%) and Pakistan (+6.4%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +44.1% from 2012-2021. By contrast, Sri Lanka (-8.4%) illustrated a downward trend over the same period. India (+48 p.p.) and Nepal (+14 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan and Sri Lanka saw its share reduced by -6.9% and -44.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported bicycles and other cycles in Southern Asia, comprising 51% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 17% share of total imports. It was followed by Nepal, with a 15% share.

In India, bicycle imports increased at an average annual rate of +15.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+12.9% per year) and Nepal (+38.0% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, falling by -5.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2013 when the import price increased by 23%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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