The Motorcycle Parts (Except Saddles) market in Mexico has displayed a consistent upward trend from 2012 to 2022. Initially valued at $463.52 million in 2012, it has grown significantly to reach $1011.9 million by 2022. This growth was characterized by notable year-on-year fluctuations, with peak growth rates observed in 2014 (28.24%) and a slight dip in 2016 (-1.47%) and 2020 (-5.36%). Despite these variations, the market maintained an upward momentum, particularly demonstrated by an impressive Compounded Annual Growth Rate (CAGR) of 5.79% over the last five years.
The variations over the previous two years were relatively balanced, with 2020 seeing a decrease of 5.36% and 2021 experiencing a marginal increase of 0.2%. The trend reversed positively in 2022, with an 8.83% increase. This signifies a robust recovery despite past downturns, likely driven by economic recovery and increasing demand for motorcycle parts.
Looking forward, the market is anticipated to continue its growth trajectory into 2024. Key trends to watch include technological advancements in motorcycle manufacturing, the shift towards electric motorcycles, and an increase in consumer preferences for customized parts. Additionally, ongoing investments in infrastructure and a rise in motorcycles' popularity as a mode of transportation are expected to further drive demand.
How does Mexico rank in Motorcycle Parts (Except Saddles) Market Size Value?
| # | 26 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 6,271,200,000 | 2023 | +0.87% | +0.89% | View data |
| 2 | 2 Germany | 2,381,600,000 | 2023 | +3.05% | +4.57% | View data |
| 3 | 3 France | 1,274,000,000 | 2023 | +0.088% | +0.44% | View data |
| 4 | 4 Mexico | 1,099,700,000 | 2023 | +5.25% | +4.91% | |
| 5 | 5 United Kingdom | 648,070,000 | 2023 | -2.3% | -2.54% | View data |
| 6 | 6 Pakistan | 442,820,000 | 2023 | +1.21% | +1.49% | View data |
