The non-electric bicycle market in Singapore showed varying dynamics over the historical period from 2013 to 2023. The market size stood at $47.21 million in 2023. From 2013 to 2014, the market experienced significant growth of 8.81%, followed by a decline in the subsequent years. Between 2021 and 2023, the year-on-year variation displayed minimal contraction around -0.053%. The Compound Annual Growth Rate (CAGR) over the last five years was relatively stable at 0.18%.

Looking ahead, the market is forecasted to exhibit a slight declining trend with a projected 5-year CAGR of -0.04%, resulting in a total growth rate of -0.22% by 2028. This suggests a fairly stable yet slightly shrinking market condition.

Future trends to watch for include:

Consumer preference shifts towards electric bicycles and other sustainable transport options.
Technological advancements in lightweight and durable materials.
Government policies promoting eco-friendly transportation and their impacts.
Health and fitness trends influencing the demand for traditional bicycles.