Cambodia Bicycle Industry Trends (2022–2025): EU Market, E-Bike Exports & Recovery
From 2022 to 2024, Cambodia's bicycle industry experienced unprecedented pressure, but early 2025 data shows signs of recovery.
📉 Market Pressure & Export Decline (2022–2024)
Between 2022 and 2024, Cambodia's bicycle industry faced severe challenges. All five bicycle factories in the country are located near the Vietnam border. Over this period, numerous international bicycle brands gradually withdrew from Cambodia, despite its former status as a key supplier to the European Union.
Due to overstock in the U.S. and European markets and global supply chain disruptions, production volumes plummeted. In 2023, Cambodia's total bicycle exports fell by 50% year-on-year, followed by another 30% decline in 2024.
🔄 Pivot to E-Bikes & Signs of Recovery in 2025
To adapt to changing market dynamics, Cambodian assemblers shifted their focus toward electric bikes, which led to a noticeable rebound. According to the Ministry of Commerce, the export value of bicycles and e-bikes in the first half of 2025 reached USD 311 million (approx. EUR 266 million), representing a 51.7% increase from USD 205 million (approx. EUR 175 million) in the same period of 2024.
Most of these exports were directed toward the EU, the UK, the U.S., and Canada. The Ministry's spokesperson emphasized that electric bicycles are becoming a key growth driver.
📦 E-Bike Export Surge to the EU
Cambodia's electric bike exports to the European Union grew rapidly—from EUR 1.8 million in 2023 to EUR 15 million in 2024. In the first five months of 2025, Cambodia exported 25,537 e-bikes to the EU, a sharp increase from 10,337 units in the same period of 2024.
🇪🇺 EU Market Share: Shrinking for Bicycles, Growing for E-Bikes
In 2023, Cambodia held a 24% share of total EU bicycle imports. However, by 2024, this share declined significantly. The total number of bicycles exported from Cambodia to the EU dropped 69%—from 819,114 units in 2023 to 456,807 in 2024.
From January to May 2025, the EU imported 138,608 Cambodian-made bicycles, with a total value of EUR 72.7 million, down from 154,381 units during the same period in 2024. Cambodia's share in the EU market has now fallen to around 10%, with mainland China and Taiwan continuing to dominate.
🔍 Outlook
While Cambodia's traditional bicycle exports face intense competition and shrinking market share in Europe, the growth in electric bike shipments highlights a promising transition. With continued investment and supply chain improvements, Cambodia could regain its foothold—especially in the fast-growing global e-bike segment.
