The non-electric bicycles market in South Africa experienced significant fluctuations over the years from 2012 to 2023. The market showed positive growth early in the period with notable year-on-year increases in 2012 and 2013. However, from 2014 onward, the market began to contract, leading to a decrease in value through 2023. Despite brief periods of recovery in 2015 and 2017, the consistent decline from 2016 indicates a struggling market.
Over the last two years, the market has shown minimal improvement, with year-on-year variations of -1.28% in 2021 and -1.27% in 2022. The Compound Annual Growth Rate (CAGR) over the last 5 years stands at -1.52%, reflecting a general downtrend in the market value.
Future trends to watch for in the South African non-electric bicycle market include the impact of shifting consumer preferences towards electric bicycles, potential growth in eco-friendly transportation initiatives, and the influence of economic conditions on discretionary spending. Additionally, trends in urban mobility and an increased focus on health and wellness may offer new opportunities for market growth.
