The market size for bicycle frames, forks, and parts in Belgium has shown a declining trend from 2013 to 2023, decreasing from $4.45 to $2 per capita. This represents a noticeable overall downward trajectory over the last decade. The year-on-year decrease in value became significant from 2020 onwards, with the most recent two years (2022-2023) showing a 6.5% decrease. The compound annual growth rate (CAGR) over the last five years is approximately -7.9%.
Looking towards the future, potential trends to monitor include the impact of increased urban cycling infrastructure, rising environmental consciousness, and potential fluctuations in manufacturing costs, which may influence the market’s recovery or further decline.
| # | 14 Countries | US Dollars Per Capita | Last Year | |||
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 7.76 | 2023 | View data | ||
| 2 | 2 Spain | 5.32 | 2023 | View data | ||
| 3 | 3 Poland | 4.69 | 2023 | View data | ||
| 4 | 4 France | 4.42 | 2023 | View data | ||
| 5 | 5 United Kingdom | 3.42 | 2023 | View data | ||
| 6 | 6 Belgium | 2 | 2023 | |||
| 7 | 7 Sweden | 1.85 | 2023 | View data | ||
| 8 | 8 Japan | 1.83 | 2023 | View data | ||
