Key Market Indicators
Demand for bicycles in Ecuador is set to increase in the coming years. The country is projected to reach 366,590 units by 2026, growing at an average rate of 1.4% year-on-year since 2005. Export of bicycles in Ecuador is also expected to rise in the years to come. The country is projected to reach 64.42 units by 2026, growing at a CAGR of 4.2% year-on-year since 2005. In 2021, Armenia overtook Ecuador in the export ranking, coming in at number 50, while Japan, Portugal and Italy respectively took the 2nd, 3rd and 4th spots.
