The event, co-organized by the Vietnam Cycle Expo company under the Ministry of Industry and Trade (MoIT) and the Vietnam Automobile, Motorcycle and Bicycle Association (VAMOBA), is expected to attract 180 exhibitors from 12 countries and territories across the world.

People at a bike exhibition. (Source: VNA)

With up to 300 display booths in an area of 2,500 sq.m, the exhibitors will introduce the 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 as other major exhibitions including the Vietnam 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 56.16 billion USD in 2024 and 69 billion USD in 2029.

In Vietnam, 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 Vietnam was estimated at 295.8 million USD in 2023, and is expected to reach 371.8 million USD with 2.49 million bicycles sold in 2027.

Meanwhile, according to the MoIT, electric motorbike sales in Vietnam have increased by about 30-35%, making Vietnam 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.