The Bicycles and Motorcycles Parts and Accessories market in Mexico has shown fluctuating growth over the years. Starting from $905.46 million in 2012, the market experienced variations with several highs and lows. Significant growth was noted in the year 2014 with a year-on-year increase of 15.86%, followed by a consistent rise up to 2019, reaching $1303.9 million. However, the 2020 pandemic-induced decline led to a drop to $1235.4 million, with a minor recovery in subsequent years, reaching $1304.9 million in 2022. The Compound Annual Growth Rate (CAGR) over the five years leading to 2022 was a modest 1.92%. Current data indicates the market continues to rebound, standing at $1330 million in 2023.
Future trends to watch for in the market include the increasing adoption of electric bicycles and motorcycles, technological advancements in parts and accessories enhancing durability and efficiency, and the rising popularity of personalized and custom-made parts. Additionally, economic factors and regulatory changes within Mexico regarding transportation could significantly impact this market's growth trajectory.
| # | 34 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 19,036,000,000 | 2023 | +3.17% | +3.84% | View data |
| 2 | 2 Japan | 5,033,800,000 | 2023 | -4.63% | -4.83% | View data |
| 3 | 3 Italy | 4,449,600,000 | 2023 | +0.34% | +0.61% | View data |
| 4 | 4 India | 3,932,600,000 | 2023 | +2.22% | +2.55% | View data |
| 5 | 5 France | 3,497,300,000 | 2023 | +2.42% | +1.52% | View data |
| 6 | 6 Spain | 2,434,400,000 | 2023 | +5.22% | +6.59% | View data |
| 7 | 7 United Kingdom | 2,055,500,000 | 2023 | -0.91% | -1.82% | View data |
| 8 | 8 Mexico | 1,409,400,000 | 2023 | +3.04% | +2.54% | |
| 9 | 9 Canada | 913,360,000 | 2023 | -0.74% | -0.59% | View data |
| 10 | 10 Poland | 881,080,000 | 2023 | +3.31% | +2.6% | View data |
