From 2012 to 2022, the Bicycles and Motorcycles Parts and Accessories Market in China experienced significant growth, with some periods of fluctuation. The market value increased from $9.0288 billion in 2012 to $18.451 billion in 2022. Noticeable year-on-year growth rates included peaks in 2013 (16.73%) and 2014 (27.5%), which were followed by more moderate increases and some declines. For instance, there was a -1.4% drop in 2017 and a more substantial -14.36% drop in 2020, possibly due to the COVID-19 pandemic. However, the market quickly rebounded with an 18.5% increase in 2021 and an 8.78% increase in 2022. The Compound Annual Growth Rate (CAGR) between 2018 and 2022 stood at 4.26%, showing overall positive momentum.
Looking forward, important trends to watch for in 2024 and beyond include increased demand for electric bicycles and motorcycles, driven by a growing emphasis on sustainable transportation. Technological advancements in parts and accessories, as well as robust government policies supporting green energy initiatives, are expected to further influence market dynamics.
| # | 34 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 19,036,000,000 | 2023 | +3.17% | +3.84% | |
| 2 | 2 Japan | 5,033,800,000 | 2023 | -4.63% | -4.83% | View data |
| 3 | 3 Italy | 4,449,600,000 | 2023 | +0.34% | +0.61% | View data |
| 4 | 4 India | 3,932,600,000 | 2023 | +2.22% | +2.55% | View data |
| 5 | 5 France | 3,497,300,000 | 2023 | +2.42% | +1.52% | View data |
