Overview of the Bicycle Industry Market
1. Foreign economy
The economic growth momentum of major economies such as the Eurozone and Mainland China has slowed, and the Brexit process is uncertain. Major international forecasting agencies have revised down the global economic growth rate this year. The OECD estimates that the economic growth rate this year is 3.3%, which is lower than the previous forecast. Revise 0.2 percentage point, IHS Markit estimates 2.8%, also revised down 0.1 percentage point.
The exports of major Asian countries generally declined. From January to February, my country’s exports decreased by 4.1% annually, South Korea decreased by 8.7%, Japan decreased by 5.1%, Singapore decreased by 0.9%, and China decreased by 4.6%.
2. Domestic Economy
Affected by the global economic slowdown, poor sales of smartphones and international raw material prices lower than the previous year, the annual growth rate of export orders, exports, and industrial production continued to show negative growth. However, due to the impact of the US-China trade friction, some businesses increased Domestic production lines, coupled with the increase in demand for network communication products, have led to an increase in the production of servers, switches, routers, wireless communication equipment, etc., with a brilliant performance.
The wholesale and retail industries were affected by the Spring Festival factor, and the turnover in February decreased compared with the same month of the previous year. Excluding the Spring Festival factor, the cumulative annual increase of the wholesale industry from January to February was 0.1% and the annual decrease of 0.3% in the retail industry. During the car turnover period, poor stocking and sales, coupled with weak mobile phone sales, offset part of the increase. However, the turnover of the catering industry was a record high for the same period in the past year, an annual increase of 4.7%.
3. Overview of the development of the bicycle industry
Bicycles have always been the representative industry of Taiwanese brands. In 2018, the output value reached 115.3 billion yuan, with bicycle parts accounting for 55.6% as the largest case, followed by finished cars with 34.9%, and electric bicycles with 9.5%. As far as the annual growth rate is concerned, electric bicycles have the fastest annual growth rate of 50.2% and their performance is outstanding.
A. Finished bicycles: Affected by the ups and downs of China's shared bicycle fever, the output value of finished bicycles in China reached a peak of 56.5 billion yuan in 2015 in the past five years, and then double-digit negative growth for two consecutive years, and positive growth began to resume in 2018 6.3%, due to the continuous efforts of the industry to research, develop and innovate, and to develop towards higher value, the average sales unit price has increased year by year. my country’s finished bicycles are mainly exported to Europe (43.2%) and the United States (29.8%); the EU and mainland China have the highest import market share of 38.0% and 85.7% respectively.
B. Bicycle parts: The bicycle parts market has benefited from the continued expansion of European and American bicycle assembly demand. In 2018, the output value was 64.2 billion yuan, which was a record high, with an annual increase of 15.5%; the annual growth rate of export value was 11.4%, double-digit growth for two consecutive years, With Europe as the main export market, it ranks second in the EU’s import market share, second to mainland China.
C. Electric bicycles: Electric bicycles have grown rapidly. In 2018, the output value of 10.9 billion yuan exceeded 10 billion yuan, an annual increase of 50.2%, and the average unit price of nearly three 年 each exceeded 40,000 yuan. Europe and the United States are my country's main export markets for electric bicycles, of which the European Union's import market share is 32.6%, and the US's import market share is 14.8%, both second to mainland China. In view of the future development of electric bicycles towards the integration of the electronics and metal electromechanical industries, my country has this competitive advantage, which will help promote my country to become the kingdom of electric bicycle production.
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