China’s bicycle export growth slows down
According to the statistics of the China Self-Association, in 2021, China’s bicycle output will be 76.397 million, up 1.5% year on year, and the industry’s export value will exceed 12 billion US dollars, up 53.4% year on year, a record high. The output of electric bicycles was 45.511 million, up 10.3% year on year, and the total operating revenue of the whole industry was 308.5 billion yuan.
The year 2021 can be said to be the most glorious year for the global bicycle industry. However, the growth of all sectors of exports in 2022 has declined to varying degrees. Affected by the international political conflict, the energy cost has increased. The high inflation in the UK has also brought a lot of impact to the bicycle industry. In addition to the repeated epidemic, the global economic situation is relatively severe, and China’s bicycle exports have also been affected. The market situation is uncertain, and the export growth rate has gradually slowed down.
Bicycles turn to high-end market, and the export unit price of Chinese bicycles rises
At present, the market of low-end and mid-end products has reached saturation. In an interview with Bloomberg, Will Butler-Aams, chief executive of Brompton, said bluntly that “there are too many bicycle orders in this industry”. The recent reduction of product prices by foreign bicycle brands Canyon and Specialized has confirmed this view. However, high-end products are not affected. On the contrary, the sales volume is still rising. Chinese manufacturers have been keenly aware of the market trend and have made great efforts in technology and vehicle design. Compared with 2021, the export unit price of bicycles will increase by nearly 30% in 2022.
With the increase of market participants, electric bicycle has also become an important part of the “micro flow” of social transportation. This is still a huge market. Even if the demand slows down, it has become a necessity for people’s life.