From 2013 to 2023, the motorcycles market in Canada displayed fluctuations, with the value per capita starting at USD 37.05 and ending at USD 31.88 in 2023. Notably, 2020 saw a significant drop to USD 26.85. From 2021 to 2023, the market recovered slightly but remained below early decade highs. The two-year span from 2021 to 2023 showed slight decreases with minor variations indicating stability.
Key observations:
- The Compound Annual Growth Rate (CAGR) from 2018 to 2023 is relatively flat, demonstrating minor overall change.
- The market reached a high in 2014, and a low in 2020, showcasing volatility.
Future trends to watch include shifts in consumer preferences, innovation in sustainable engine technology, and economic factors that may influence spending on leisure items such as motorcycles.
