The Canadian non-electric bicycle market has shown mixed trends over the past decade. From 2013 to 2023, the market fluctuated with periods of growth and decline. The market in 2023 stood at 915.94 million USD. The market experienced a significant drop in 2016 but has generally increased since 2017. The year-on-year variation from 2022 to 2023 was a slight growth of 0.55%, with a five-year CAGR leading up to 2023 at 1.22%. Forecasts from 2024 to 2028 predict a steady but modest growth, with a five-year CAGR of 0.44% and an overall growth rate of 2.24%.
Future trends to watch for include potential shifts in consumer behavior towards eco-friendly transportation, governmental policies supporting cycling infrastructure, and the impact of technological advancements on bicycle design and materials. Also, watch for increasing competition from electric bicycles, which might influence market dynamics.
