2024自行车行业简析报告

Industry Overview - The bicycle industry in China has evolved into a multi-functional carrier, integrating elements of environmental protection, social interaction, and fitness, with approximately 6 million cycling enthusiasts and over 3.4 million registered bicycle-related businesses [2] - China remains the largest producer and consumer of bicycles globally, with a market size of 1838.1 billion yuan and a projected global market value of 82.3 billion USD by 2027 [4][5] - The industry faces challenges such as slowing export growth, with a 39.8% decline in export volume in 2022 and ongoing dependency on imported core components [7][8] Market Trends - Cycling has become a popular sport, with over 100 million regular cyclists in China, and significant growth in cycling-related content on platforms like Douyin, with video views increasing by 94.4% and searches by 137.4% [3] - The electric-assist bicycle market is poised for explosive growth, with a projected global market size of 52.6 billion USD by 2028, driven by a 12% CAGR, although penetration in China remains below 1% [18][19] - Younger consumers, particularly those under 25, are driving demand for high-end bicycles and cycling gear, with a 387% increase in spending on road bikes and significant growth in cycling apparel and accessories [21] Consumer Behavior - Consumers are increasingly willing to invest in higher-priced bicycles, with a preference for models priced between 8,000 to 30,000 yuan, reflecting a trend towards budget and consumption upgrades [23] - The "cool and chic" cycling trend, characterized by urban, retro, and street-style fashion, is particularly popular among women aged 25-34 in first- and second-tier cities [25][26] Industry Challenges - The industry faces profitability challenges due to intense competition, with domestic manufacturers struggling to compete in the high-end market dominated by developed countries [29] - High buyer bargaining power and low supplier bargaining power are significant issues, with manufacturers needing to focus on differentiated operations and high-end product development to remain competitive [30][31] - International trade risks, including potential tariff changes and trade protectionism, pose threats to overseas sales and overall industry performance [32] Key Players and Innovations - Xidesheng, a leading bicycle manufacturer, has established itself as a global player with a focus on lightweight technology and high-end products, operating the largest carbon fiber manufacturing facility in China [27] - The industry is shifting towards electrification, with electric-assist bicycles expected to see increased production and higher value due to their advanced technology and higher price points [35]