The US market for non-electric bicycles has shown moderate fluctuations over the years, standing at $10.808 billion in 2023. Analyzing the data from 2013 to 2023, we observe notable annual variations, with the market value experiencing both growth and decline. Specifically, after a dip in 2017, the market showed a recovery trend, culminating in a 0.63% year-on-year increase in 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) was a modest 0.14%, indicating a stable yet slow growth trajectory.
Looking ahead from 2024 to 2028, the market is forecasted to grow at a CAGR of 0.46%, achieving a 2.31% overall growth rate by 2028. While the annual growth rates appear subdued, the market is expected to maintain a steady upward trajectory.
Future trends to watch for include potential shifts in consumer preferences towards sustainable and eco-friendly transportation options, which may spur demand for non-electric bicycles. Additionally, advancements in lightweight materials and designs could attract new consumer segments.
