United Kingdom: Bicycle Market 2024

Bicycle Market Size in the UK

The UK bicycle market expanded rapidly to $X in 2021, surging by 9.1% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Bicycle consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Bicycle Production in the UK

In value terms, bicycle production amounted to $X in 2021 estimated in export price. Over the period under review, production recorded prominent growth. The growth pace was the most rapid in 2019 when the production volume increased by 528% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Bicycle Exports

Exports from the UK

In 2021, overseas shipments of bicycles and other cycles decreased by -0.9% to X units, falling for the second year in a row after eight years of growth. Over the period under review, total exports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -23.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, bicycle exports reduced dramatically to $X in 2021. Overall, total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -19.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 34%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ireland (X units) was the main destination for bicycle exports from the UK, accounting for a 35% share of total exports. Moreover, bicycle exports to Ireland exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was held by Singapore (X units), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+18.2% per year) and Singapore (+29.9% per year).

In value terms, the largest markets for bicycle exported from the UK were Ireland ($X), the United States ($X) and Singapore ($X), with a combined 52% share of total exports. These countries were followed by the Netherlands, South Korea, Germany, China, Japan, Belgium and Kenya, which together accounted for a further 28%.

China, with a CAGR of +62.7%, 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, with a decrease of -18.4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 31%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Kenya ($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 Belgium (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Bicycle Imports

Imports into the UK

Bicycle imports into the UK was estimated at X units in 2021, surging by 8.8% on 2020. Overall, imports, however, saw a mild curtailment. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, bicycle imports reduced to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 15% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Bangladesh (X units) and Tunisia (X units) were the main suppliers of bicycle imports to the UK, together accounting for 43% of total imports. Cambodia, Taiwan (Chinese), the Philippines, Indonesia, Sri Lanka, Thailand, India, Portugal, Turkey and the Netherlands lagged somewhat behind, together comprising a further 49%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +80.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle suppliers to the UK were China ($X), Cambodia ($X) and Taiwan (Chinese) ($X), together accounting for 39% of total imports. These countries were followed by Bangladesh, Indonesia, the Netherlands, Tunisia, the Philippines, Sri Lanka, Portugal, Thailand, Turkey and India, which together accounted for a further 43%.

Portugal, with a CAGR of +91.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bicycle import price stood at $X per unit in 2021, waning by -10.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2013 when the average import price increased by 17% against the previous year. The import price peaked at $X per unit in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :