People at a bike exhibition. — VNA/VNS Photo

HÀ NỘI — The Việt Nam Cycle Expo – a major international event in Việt Nam for bicycles, electric bikes, electric motorcycles, motorcycles and accessories will return in September in HCM City.

The event, co-organised by the VINEXAD company under the Ministry of Industry and Trade (MoIT) and the Việt Nam Automobile, Motorcycle and Bicycle Association (VAMOBA), is expected to attract 180 exhibitors from 12 countries and territories across the worlds.

With up to 300 display booths in an area of 2,500sq.m, the exhibitors will introduce latest products and services relating to bikes, electric bikes, electric vehicles, components and accessories. Besides world famous brandings, the expo also welcomes newly established start-ups.

Visitors to the expo can take part in interactive activities, an adventure cycle show and a bike fashion show.

The expo will take place at the same time and venue with other major exhibitions including the Việt Nam Sport Show 2024 and Zhejiang Expo Fair. The series of events featuring more than 500 display booths are expected to attract over 20,000 visitors.

A report by Mordor Intelligence shows that the world bicycle market is estimated to reach US$56.16 billion this year and $69 billion in 2029.

In Việt Nam, the trend of using bicycles for exercise and transportation has been increasing sharply recently.

Data from Statista, a German market research company, shows that revenue from the bicycle segment in Việt Nam was estimated at $295.8 million last year, and is expected to reach $371.8 million with 2.49 million bicycles sold in 2027.

Meanwhile, according to the MoIT, electric motorbike sales in Việt Nam have increased by about 30-35 per cent, making Việt Nam the largest electric motorbike market in Southeast Asia and the second largest in the world, just behind China.

Environmental issues and fluctuations in petrol prices are also factors that affect consumer demand for electric vehicles, which are expected to increase sharply in the near future. — VNS