Turkey: Bicycle Market 2024

Bicycle Market Size in Turkey

The Turkish bicycle market soared to $X in 2021, with an increase of 30% against the previous year. The market value increased at an average annual rate of +1.3% 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 failed to regain momentum.

Bicycle Production in Turkey

In value terms, bicycle production surged to $X in 2021 estimated in export price. In general, production showed a resilient increase. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Bicycle Exports

Exports from Turkey

In 2021, shipments abroad of bicycles and other cycles increased by 29% to X units, rising for the fourth year in a row after two years of decline. Overall, exports posted a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 39%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, bicycle exports skyrocketed to $X in 2021. Over the period under review, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 54%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X units), the Netherlands (X units) and the UK (X units) were the main destinations of bicycle exports from Turkey, with a combined 46% share of total exports. These countries were followed by Greece, Finland, Italy, Spain, Romania, Sweden, Bulgaria, France and Cyprus, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +82.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bicycle exported from Turkey were Germany ($X), the UK ($X) and the Netherlands ($X), together accounting for 47% of total exports. Finland, France, Greece, Spain, Italy, Sweden, Romania, Bulgaria and Cyprus lagged somewhat behind, together accounting for a further 46%.

Romania, with a CAGR of +100.8%, recorded the highest growth rate of 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

The average bicycle export price stood at $X per unit in 2021, surging by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2013 when the average export price increased by 19%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Romania ($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 Romania (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into Turkey

In 2021, supplies from abroad of bicycles and other cycles increased by 16% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 59%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, bicycle imports skyrocketed to $X in 2021. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 56% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Romania (X units), Portugal (X units) and Italy (X units) were the main suppliers of bicycle imports to Turkey, with a combined 90% share 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 +49.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Portugal ($X) and Italy ($X) constituted the largest bicycle suppliers to Turkey, together accounting for 77% of total imports.

Romania, with a CAGR of +42.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, with an increase of 6.2% against the previous year. Overall, the import price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 11% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 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) ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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