European bicycle imports surge 30%

In a year when supply chain tensions plagued the market, the import of bicycles from EU countries has seen unprecedented significant growth. Market values have been slowly but steadily declining since ebike sales gained momentum.

The average retail price of bicycle products currently imported into Europe has risen sharply. Europe's ebike imports have grown by double digits and have outpaced bike shipments into Europe.

The total sales volume of Asian bicycle exporting countries in 2022 will be lower than that in 2021. Total shipments of general bicycles decreased by 6.37% from 5.4 million units in 2021 to more than 5 million units last year. Shipments from top supplier Cambodia increased by 18.44% to 1.2 million units. The country currently supplies almost a quarter of the EU's bicycle imports. Cambodia's market share will increase from 18.9% in 2021 to 23.8% in 2022.

However, most of the top 10 bicycle exporters to the EU will have lower shipments in 2022 than in 2021. Orders from traditional bicycle manufacturing powerhouses, including China, are shifting to other countries such as Bangladesh, Tunisia and Thailand.

Bangladesh in particular is currently going through a boom in bicycle factory construction. According to the country's Export Promotion Agency, Bangladesh is actively seeking to diversify its exports, focusing on engineered products and bicycles to meet the growing demand in the international market. Bangladesh is currently one of the countries benefiting from duty-free importation of bicycles sold to the EU.