From 2013 to 2023, Mexico’s per capita market size for bicycle frames, forks, and related parts decreased from $0.84 to $0.63. The market saw a peak in 2015 at $0.89, followed by a downward trend, with notable declines between 2016 to 2018. The market stabilized slightly in recent years, with minimal year-on-year change at -3.03% from 2022 to 2023. The average CAGR from 2019 to 2023 was -2.3% annually.
Future trends to watch for include the impact of policies promoting cycling as sustainable transportation, potential shifts in consumer preferences towards eco-friendly options, and technological advancements within the industry which could spur market innovation and possibly reversal of the declining trend.
| # | 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 | ||
| 11 | 11 Norway | 1.5 | 2023 | View data | ||
| 12 | 12 Guatemala | 0.67 | 2023 | View data | ||
| 13 | 13 Mexico | 0.63 | 2023 | |||
| 14 | 14 Malaysia | 0.26 | 2023 | View data | ||
