In 2023, China led global exports of bicycle pedals, crank-gear, and parts thereof with a significant year-on-year growth of 0.12%, continuing its dominance in the market. India and Malaysia, however, saw declines in exports by -2.22% and -3.0% respectively, while the Philippines showed considerable strength with a 5.26% increase. Notably, Uganda and Switzerland experienced high growth rates of 15.79% and 18.87% respectively, albeit from smaller base values. In contrast, Spain and Norway faced substantial declines of -26.62% and -32.53% respectively. Estonia was a standout with a dramatic increase of 96.4% from a low base.
Looking ahead, key trends to watch include China's strategic expansion in production capacity, potential shifts in European markets due to environmental policies favoring cycling, and technology advancements influencing demand shifts. Monitoring India's market readjustments post-decline and Southeast Asia's overall market dynamism will be essential for future insights.
Top countries in Export of Bicycle Pedals, Crank-Gear and Parts Thereof by Country
| # | 10 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 53,084,000 | 2023 | +0.021% | +0.12% | View data |
| 2 | 2 India | 9,906,600 | 2023 | -2.34% | -2.22% | View data |
| 3 | 3 Philippines | 6,564,600 | 2023 | +5.85% | +5.26% | View data |
| 4 | 4 Malaysia | 4,199,900 | 2023 | -3.54% | -3% | View data |
| 5 | 5 Germany | 2,609,900 | 2023 | +1.15% | +2.2% | View data |
| 6 | 6 Netherlands | 1,798,000 | 2023 | +2.94% | +2.58% | View data |
| 7 | 7 Japan | 1,316,200 | 2023 | -6.14% | -4.45% | View data |
| 8 | 8 Indonesia | 1,042,100 | 2023 | -6.94% | -5.75% | View data |
| 9 | 9 United States | 490,120 | 2023 | +0.23% | +0.069% | View data |
| 10 | 10 Belarus | 406,490 | 2023 | +6.09% | +6% | View data |
