The non-electric bicycle market in Colombia has shown a consistent upward trajectory over the past decade, starting from a value of 99.632 million USD in 2013 to reaching 330.46 million USD in 2023. The market experienced notable growth spurts in 2014 (55.79%) and 2017 (34.19%). Despite a slight downturn in 2016 (-6.98%), the overall trend has been positive with a consistent increase in market size. Over the last two years, the market grew by 5.03% in 2022 and 4.69% in 2023. The compounded annual growth rate (CAGR) over the last five years stood at 4.5%, reflecting steady growth in the sector.
Future trends to watch for include the potential rise in environmental consciousness driving an increased demand for non-electric bicycles, as well as the influence of urbanization and changes in transportation policies. Additionally, technological advancements in bicycle design and materials could spur further market growth. Tracking these factors will be crucial for anticipating future shifts in the market.
How does Colombia rank in Bicycles (Non Electric) Market Size Value?
| # | 35 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 10,808,000,000 | 2023 | +0.63% | +0.14% | View data |
| 2 | 2 China | 9,611,600,000 | 2023 | +3.86% | +4.78% | View data |
| 3 | 3 Japan | 2,612,000,000 | 2023 | -7.72% | -6.26% | View data |
| 4 | 4 Germany | 2,427,700,000 | 2023 | +0.54% | +0.24% | View data |
| 5 | 5 United Kingdom | 1,760,700,000 | 2023 | -3.17% | -0.95% | View data |
| 14 | 14 Switzerland | 434,520,000 | 2023 | -0.32% | +0.52% | View data |
| 15 | 15 Sweden | 343,980,000 | 2023 | +0.61% | +0.1% | View data |
| 16 | 16 Colombia | 330,460,000 | 2023 | +4.69% | +4.5% | |
| 17 | 17 Belgium | 298,050,000 | 2023 | +0.64% | +1.11% | View data |
| 18 | 18 Israel | 141,010,000 | 2023 | +1.15% | +1.31% | View data |
