The import of parts and accessories of bicycles and motorcycles to Canada saw steady growth from 2023, where it stood at $255 million. The forecast indicates a consistent year-on-year increase of approximately 0.67% through 2028. The Compound Annual Growth Rate (CAGR) suggests a stable growth trend of approximately 0.69% over the five-year span. This moderate growth points to a continuously expanding market as demand for bicycles and motorcycles rises in various segments.
Looking ahead, key trends to monitor include:
- The rising popularity of e-bikes and electric motorcycles which may lead to increased demand for specialized parts.
- Potential tariff changes or trade agreements impacting import dynamics.
- Shifts in consumer preferences towards sustainable and eco-friendly transportation alternatives.
