The non-electric bicycle market size in Malaysia stood at 104.57 million USD in 2023. Over the past decade, the market has experienced fluctuations with notable decreases observed from 2016 onwards. Year-on-year variations show some recovery in 2017 but a steady decline from 2018 through 2023. The CAGR from 2018 to 2023 indicates an annual decrease of approximately 0.99%. Forecasts for 2024 and beyond project a continued downward trend, with an average annual shrinkage rate of 0.88%, leading to a 4.34% reduction by 2028.

Future trends to watch for:

Shifts towards electric alternatives could further reduce non-electric bicycle demand.
Urbanization and infrastructure developments may impact market dynamics.
Environmental policies and consumer behavior towards sustainability could create new opportunities.