Big opportunity in European market
In terms of motorcycles, according to the 2018 import data of the European Union, the number of imported motorcycles has maintained a strong growth trend, as in 2016 and 2017, especially power of 250W and below and max speed not exceeding 25Km/h. Among the EU's import data, the most prominent is China.
With the increasing sales of European motorcycles, the import quantity in the European market is also growing rapidly. In 2018, the EU region imported a total of 1.165 million e-bikes which use power-assisted system and power below 250W. Compared with 2017, quantity has increased by 60%. Among them, China accounts for 78%, reaching 91.25 million units, which dominated the European market. Except quantity, the growth rate is also very high, an increase of 67% compared with 2015. In addition to China, the main importing countries/regions include Vietnam, Cambodia, Taiwan, Hong Kong and Sweden.
According to the data given by the China Bicycle Industry Association, China exported a total of 1.3 million motorcycles in 2018, an increase of 20% compared with 2017 and exports to about 100 countries and regions. CBIA said that the growth of China's motorcycle is largely due to the contraction of the domestic market. China's bicycle factories are facing a severe overcapacity situation, so they are actively expanding their motorcycle export business. However, even if the consumer market is stagnant, we still manufacture more than 30 million units in 2018, ranking first in the world. Because of the rise of shared bicycles, it is expected that China's bicycle production will continue to climb in 2020.