1. bicycle market size

According to data from the Champ Consulting Group,2021The size of the global bicycle market in445US $100 million, of which the United States, Europe and other regions are80Billions of dollars,200billion dollars and165Billions of dollars.2023The size of the global bicycle market is expected to reach480Billion US dollars, year-on-year growth7.9%. The growth of the global bicycle market is mainly driven by the following factors:

During the epidemic, there was an increased demand for personal portable travel tools, as well as cycling for physical fitness and stress relief.According to data from the Champ Consulting Group,2022The size of the European bicycle market remained2200About 10,000 vehicles, a slight increase year-on-year.1%; U.S. bicycle market size fell slightly, with sales2400Ten thousand vehicles, down year on year6%。

Government and social advocacy and support for low-carbon travel and green environmental protection. Many countries and regions have introduced policies and measures to encourage citizens to use bicycles, such as providing subsidies, increasing the construction of bicycle lanes, and relaxing restrictions on electric bicycles. For example, the European Union in 20207500 launched inA € billion green recovery plan4This includes investment in bicycle infrastructure.

Innovation and upgrading of bicycle products. With the advancement of technology and the improvement of consumer demand, bicycle products show the characteristics of medium and high-end, electrification, and intelligence. For example, electric bicycles (E-bike) It far exceeds traditional bicycles in terms of comfort, individuality, and sense of technology, and is widely welcomed in Europe and other regions.According to data from the Champ Consulting Group,2023The size of the global electric bicycle market will reach520Billion US dollars, accounting for more than half of the bicycle market.

China is the world's largest producer and consumer of bicycles and the largest exporter.According to data from the Shangpu Consulting Group, the Chinese bicycle industry is in2022Continue to maintain a steady development trend, the market size exceeded 0.2 billion yuan. Expected2023China's bicycle production will further increase7846.5Ten thousand. Global demand for Chinese bicycles continues to be strong due to the epidemic and environmental policies,2023China's bicycle exports are expected to reach8564.710,000 vehicles, a record high.2023Throughout the year, the size of China's bicycle market is expected to break through2300Billion yuan, year-on-year growth10.4%. The development of China's bicycle market is influenced by the following factors:

Domestic consumption upgrade and sports health awareness. With the improvement of residents' income level and the change of life style, people's requirements for bicycle function are no longer limited to simple transportation, but pay more attention to quality, performance, experience and so on. The demand for high-end bicycles, sports bicycles, electric bicycles and other market segments is growing rapidly.Among the people who need new bicycles in China in 2022, nearly65%consumers for leisure sports purposes.

The guidance and support of the national "double carbon" goal and green travel policy.2020Year9In January, President Xi Jinping75The United Nations General Assembly announced that China will strive2030peaking CO2 emissions years ago,2060years ago to achieve carbon neutrality. In order to achieve this goal, the national and local governments have issued a series of policies and measures to promote low-carbon travel and green transportation, such as promoting new energy vehicles, encouraging public transportation and non-motorized transportation. As a low-carbon, environmentally friendly and energy-saving means of transportation, bicycles are in line with the development direction of the country and society, and are expected to obtain more policy dividends.

Challenges such as international trade frictions and rising costs. In recent years, due to trade protectionism and anti-dumping and other factors, Europe and the United States and other countries have imposed high tariffs on China's bicycle trade. For example, the United States has imposed additional tariffs on some Chinese bicycles and parts products.25%The EU's tariff on Chinese bicycle trade is much higher than that of other third countries.48.5%. These measures have put some pressure on China's bicycle exports. At the same time, due to factors such as rising raw material prices, increased labor costs, and difficulties in logistics and transportation, the production costs of China's bicycle industry are also rising.

2. Bicycle Development Trend

Champu Consulting believes that in the next few years, the bicycle industry will present the following development trends:

Bicycle to high-end transformation. With the higher requirements of consumers for bicycle quality, performance, experience, etc., as well as the improvement of sports health awareness, the mid-to-high-end bicycle market will have greater room for development. According to data from the Champ Consulting Group,2022The annual output of bicycles above 1,000 yuan in China is about 1000Ten thousand, more than 2019Annual growth of 12%15% of total production, more 2019Year up 1.3.percentage points, reflecting the increasing added value of bicycle products.In the future, mid-to-high-end bicycles will pay more attention to innovation and optimization in design, materials, craftsmanship, and functions.

Bicycle electrification development. Electric bicycle is an important growth point of the bicycle industry, and it is also an aspect of the transformation of bicycles to medium and high-end. Electric bicycles have the advantages of energy saving, environmental protection, convenience and comfort, and can meet the needs of consumers of different ages and different scenes. Forecast2023The size of China's electric bicycle market will reach1400Billion yuan, accounting for the proportion of the bicycle market will exceed60%. In the future, electric bicycles will pay more attention to innovation and optimization in safety, intelligence, lightweight, and personalization.

The development of intelligent bicycle. Intelligence is an important direction of bicycle product innovation, and it is also an effective means to enhance the influence and competitiveness of bicycle brands. Intelligence is mainly reflected in the following aspects: first, intelligent hardware, such as intelligent locks, intelligent lights, intelligent meters, etc., can improve the safety, convenience and comfort of bicycles; second, intelligent software, such as intelligent navigation, intelligent health management, intelligent social networking, etc., can improve the functionality and experience of bicycles; third, intelligent services, such as intelligent maintenance, intelligent leasing, intelligent sharing, etc, it can improve the efficiency and utilization of bicycles.

International bicycle development. With the intensification of international trade frictions and the pressure of rising costs, Chinese bicycle companies need to strengthen their internationalization strategies to meet challenges and seize opportunities. The internationalization strategy mainly includes the following aspects: first, to open up the domestic market and make use of domestic consumption upgrading and policy support to enhance domestic market share and brand awareness; second, to expand overseas markets and make use of resources such as the "Belt and Road Initiative" initiative and overseas Chinese communities to enter emerging markets and developing countries; third, to establish overseas bases and make use of local policy preferences and market demand for overseas production and sales; fourth, cross-border mergers and acquisitions, the use of international brands and channel resources to enhance international competitiveness.

3. Conclusion

To sum up,2023The bicycle industry will show the characteristics of continuous growth of market scale, products to medium and high-end, electrification, intelligent transformation and upgrading, and changes in the international competition pattern of the industrial chain. Shangpu Consulting Group suggests that Chinese bicycle companies should strengthen technological innovation and brand building, improve product quality and service levels, implement internationalization strategies, and expand domestic and foreign market space in accordance with market changes and consumer needs.