Bicycle sales witnessed a 2.4% growth during the period of 2023-24

Amidst a surge in demand, India’s bicycle industry experienced a modest uptick in sales of 2.40 percent during the last fiscal year.

According to data from the All-India Cycle Manufacturers’ Association (ACMA), total bicycle sales reached 1,06,71,582 units in 2023–24, compared to 1,04,20,843 units in 2022-23. The rise in sales primarily stemmed from increased demand for roadster and children’s bicycles. Conversely, there was a decline in demand for bicycles in the premium segment and exports in 2023–24 compared to the previous fiscal year.

Despite the immense potential in the domestic market, the share of the unorganized sector has grown in recent years, encroaching upon the territory of the organized sector. “Analyzing the data, the organized sector’s sales have remained stagnant at approximately 1.1 crore units annually over the past three years, while the unorganized sector’s sales range anywhere between 50 and 60 lakh units,” noted KB Thakur, secretary general of ACMA.

With over 60,000 cycles produced daily, Ludhiana stands as the epicenter of bicycle manufacturing in India, contributing to 75 percent of the nation’s total bicycle production and 92 percent of bicycle part manufacturing. “Numerous entities in the unorganized sector are openly vending non-standard bicycles, disregarding safety standards. This detrimental practice has adversely impacted the sales of the organized sector,” remarked Charanjit Singh Vishwakarma, Chairman of the United Cycle and Parts Manufacturers Association.