Price for Cycles; Parts Thereof, Wheel Rims and Spokes in India - 2022

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in India (FOB) - 2022

The average export price for cycles; parts thereof, wheel rims and spokeses stood at $26,889 per ton in 2022, waning by -5.4% against the previous year. In general, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2018 an increase of 22% against the previous year. The export price peaked at $28,435 per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($81,987 per ton), while the average price for exports to Japan ($3,973 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in India (CIF) - 2022

In 2022, the average import price for cycles; parts thereof, wheel rims and spokeses amounted to $5,440 per ton, jumping by 17% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for cycles; parts thereof, wheel rims and spokeses increased by +103.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 34%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($7,852 per ton), while the price for China totaled $4,855 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+22.0%).

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in India

In 2022, approx. 543 tons of cycles; parts thereof, wheel rims and spokeses were exported from India; which is down by -8.8% compared with 2021. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 13%.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses reduced to $15M in 2022. Over the period under review, exports saw a noticeable decline. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. As a result, the exports attained the peak of $17M, and then declined in the following year.

Export of Cycles; Parts Thereof, Wheel Rims and Spokes in India (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Bangladesh	6,446	5,609	5,668	4,310	-12.6%
Nepal	290	421	348	717	35.2%
Tanzania	647	597	580	602	-2.4%
Sri Lanka	591	225	475	571	-1.1%
Uganda	608	697	610	540	-3.9%
Malawi	597	368	332	465	-8.0%
Rwanda	123	291	91.2	309	35.9%
Democratic Republic of the Congo	37.1	53.0	130	254	89.9%
Mali	270	191	449	241	-3.7%
Cote d'Ivoire	487	289	447	231	-22.0%
South Africa	161	88.6	163	143	-3.9%
Myanmar	29.9	16.3	9.4	93.8	46.4%
Japan	11.5	26.5	27.5	39.9	51.4%
Others	5,557	5,034	7,588	6,073	3.0%
Total	15,855	13,906	16,918	14,590	-2.7%

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from India in 2022:

Tanzania (83.1 tons)
Uganda (57.5 tons)
Bangladesh (52.6 tons)
Nepal (45.4 tons)
Rwanda (38.8 tons)
Mali (37.0 tons)
Democratic Republic of the Congo (24.2 tons)
Malawi (23.0 tons)
Myanmar (13.9 tons)
Cote d'Ivoire (13.7 tons)
South Africa (12.0 tons)
Sri Lanka (11.3 tons)
Japan (10.0 tons)

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in India

In 2022, imports of cycles; parts thereof, wheel rims and spokeses into India shrank remarkably to 1.3K tons, falling by -61.1% compared with the previous year. Overall, imports saw a sharp downturn. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses dropped markedly to $7.3M in 2022. Over the period under review, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 66% against the previous year. As a result, imports reached the peak of $16M, and then reduced rapidly in the following year.