The Canadian market for bicycle frames, forks, and related parts has steadily declined from 2013 to 2023. In 2013, the market was valued at $92.654 million, decreasing to $60.822 million by 2023. This represents a significant downward trajectory, with the last five years experiencing an average annual contraction rate (CAGR) of about -5.86%. In 2023, the market stood at this reduced level, marked by a year-on-year decrease of 6.6%. The most substantial decline occurred between 2018 and 2020, reflecting broader industry pressures and shifting consumer preferences.
Future trends to watch for include:
- Increasing adoption of electric bikes, which could shift demand towards compatible frames and forks.
- Emphasis on lightweight and sustainable materials in frame manufacturing.
- Potential resurgence post-2024 supported by lifestyle and environmental awareness.
- Further market consolidation could influence pricing and availability.
How does Canada rank in Bicycle Frames, Bicycle Forks and Bycicle Frames and Forks Parts Market Size Value?
| # | 15 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 1,262,600,000 | 2023 | -0.44% | -0.82% | View data |
| 2 | 2 Italy | 464,770,000 | 2023 | +0.21% | +0.033% | View data |
| 3 | 3 France | 289,850,000 | 2023 | -1.26% | -2.52% | View data |
| 4 | 4 Spain | 249,040,000 | 2023 | +1.03% | +0.48% | View data |
| 5 | 5 United Kingdom | 231,440,000 | 2023 | +0.36% | +0.31% | View data |
| 7 | 7 Poland | 177,910,000 | 2023 | +3.31% | +5.37% | View data |
| 8 | 8 Mexico | 82,808,000 | 2023 | -1.22% | -0.67% | View data |
| 9 | 9 Canada | 60,822,000 | 2023 | -6.6% | -5.86% | |
| 10 | 10 Australia | 37,529,000 | 2023 | -9.92% | -9.01% | View data |
| 11 | 11 Belgium | 19,676,000 | 2023 | -12.63% | -9.72% | View data |
