The import volume of bicycle pedals and crank-gear parts to China has shown a downward trend over the last decade. In 2023, the import volume stood at 1.9724 million kilograms. A noticeable decline began around 2016, with yearly decreases continuing almost consistently. In the last two years, the year-on-year variation was -11.86% in 2022 and -7.89% in 2023. The five-year CAGR from 2023 is -6.93%, indicating a steady decline in imports.
Looking forward, the forecasted data shows a further decline, with the five-year CAGR estimated at -9.39% and overall growth rate at -38.91% by 2028. This trend suggests a continued reduction in import volumes.
Future trends to watch for include shifts in domestic production, changes in consumer preferences towards electric or alternative modes of transport, and economic factors impacting the bicycle industry. Monitoring these elements will be crucial for anticipating further changes in import demand.
