Over the past decade, the import value of parts and accessories for bicycles and motorcycles to China has experienced fluctuations. The value grew significantly from 2013 to 2014, followed by a period of decline until 2018. From 2019 onwards, the trend showed slight recoveries and setbacks, with a noteworthy drop in 2020 due to external factors, likely the COVID-19 pandemic. The year-on-year variation indicates periods of recovery and decline, with the most recent data (2023) standing at 553.44 million US dollars, showing a minor increase of 1.47% from the previous year. Over the last five years, the compound annual growth rate (CAGR) stabilized at 2.02%.
Forecasts predict a consistent, albeit modest, growth in import values from 2024 to 2028, with a forecasted five-year CAGR of 1.16%, culminating in 593.74 million US dollars by 2028. The forecasted five-year growth rate is 5.96%.
Future trends to watch for include shifts in consumer behavior towards sustainable transportation, technological advancements in bicycle and motorcycle parts that could drive demand, and the impact of international trade policies. Additionally, global economic conditions and changes in manufacturing locations may influence import patterns.
