HS Code:
The 'Designed for single-speed bicycles' category includes components and parts specifically engineered for single-speed bicycles, such as frames, cranksets, chains, and hubs. These products are distinct from multi-speed bicycle components due to their simpler design and functionality, catering to a niche market of urban commuters, fixed-gear enthusiasts, and recreational cyclists. This category falls under broader HS Codes related to bicycle parts (often HS 8714.99), though specific subcategories may vary by country or trade agreement for single-speed components.
Total Trade Volume
USD 250 million
Data from 2022
Source
United Nations Comtrade Database & International Trade Centre (ITC)
USD 120 million
48% of total trade of total trade
Increasing
USD 50 million
20% of total trade of total trade
Stable
USD 30 million
12% of total trade of total trade
Increasing
USD 25 million
10% of total trade of total trade
Stable
USD 15 million
6% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for urban mobility solutions
Increased demand for single-speed bicycles and components in densely populated cities, driven by sustainability and cost-effectiveness, boosting trade volumes by 8% annually.
2021-2023
Growth of e-commerce platforms
Direct-to-consumer sales of single-speed bicycle parts have surged, with online marketplaces facilitating exports from major producers like China and Taiwan.
2020-2022
Shift towards sustainable manufacturing
Manufacturers adopting eco-friendly materials and processes to meet consumer and regulatory demands, influencing production costs and trade competitiveness.
2022-2023
The European Union extended anti-dumping duties on certain Chinese bicycle components, including single-speed parts, to protect domestic manufacturers.
June 2023
Increased costs for EU importers, potentially shifting sourcing to Taiwan or Vietnam.
The US granted temporary tariff exemptions on specific bicycle parts under Section 301, including some single-speed components, to ease supply chain pressures.
March 2022
Boosted imports from China, benefiting US retailers and consumers with lower prices.
Taiwanese manufacturers announced significant investments in R&D for lightweight and durable single-speed components to capture premium market segments.
September 2023
Expected to strengthen Taiwan's position as a high-quality supplier, increasing export volumes.