The Chinese Bicycle Industry Continues To Show An Uptrend
China – From January to September 2020, among the major bicycle products in China, the output of bicycles reached 32.202 million units, an increase of 14.2% year-on-year. The output of electric bicycles reached 22.853 million units, up 30.3% year-on-year. In September, 4.551 million bicycles were produced nationwide, up 43.3% year on year; the output of electric bicycles reached 3.999 million units, up 51.5% year on year.
From January to September 2020, the operating income of bicycle manufacturers above the designated size was 126.05 billion yuan, with a year-on-year growth of 15.7%, and the total profit is 5.13 billion yuan, with a year-on-year growth of 22.0%. Among them, the operating income of bicycle manufacturing industry was 40.98 billion yuan, with a year-on-year growth of 7.2%, and the total profit was 1.57 billion yuan, with a year-on-year growth of 10.9%. The operating revenue of electric bicycles reached 67.76 billion yuan, up 26.6% year-on-year, and the total profit reached 2.63 billion yuan, up 30.4% year-on-year.
With the deepening of the new national standard of electric bicycle, more and more enterprises began to develop new national standard products. Under the “New National Standard Era”, the electric bicycle industry pays more attention to the innovation and upgrading of core components and key processes, to promote the healthy industrial advancement of developing light, intelligent, standardized products.
With the steady development of China’s e-bike industry, the ownership of e-bikes has been rising steadily. By the end of 2019, e-bike ownership in China had exceeded 300 million units.