The import of bicycle brakes and parts thereof to Indonesia has demonstrated notable variability from 2013 to 2023. Starting in 2013 at 13.6 million USD, the imports saw a decline in 2014 but rebounded over subsequent years with some fluctuations. Remarkable growth occurred in 2018 with a 43.48% year-on-year increase. The years 2021 and 2022 also showed steady growth, with increases of 8.31% and 2.76% respectively. By 2023, imports stood at 22.106 million USD, reflecting a moderate increase of 2.63% year-on-year. Over the last two years (2021-2023), the trend reveals a modest but steady growth.
Analyzing the data over a five-year period indicates an average annual growth rate (CAGR) of 1.04% from 2018 to 2023. Forecasts for 2024 through 2028 predict a continued upward trajectory, with a CAGR of 1.98% and an overall growth rate of 10.29% by 2028, suggesting a positive market outlook.
Future trends to watch for include:
- Technological advancements in bicycle braking systems.
- Changes in consumer preferences towards higher-quality or specialized biking equipment.
- The impact of global trade policies on import volumes and values.
- Growth in urban biking culture and eco-friendly transport in Indonesia.
