In 2023, the US imported non-motorized bicycles valued slightly under $1.7 billion. Forecasts for 2024 show a modest increase to $1.7059 billion, with continued growth through 2028, culminating at $1.7832 billion. This reflects a consistent annual increment, suggesting steady consumer interest and demand. The year-on-year growth from 2024 onwards is expected to hover around 1-2%, indicating a stable market environment. The compound annual growth rate (CAGR) over the five years points to an average annual increase in the low single digits.
Future trends to watch for include technological advancements in bicycle design, a potential rise in cycling due to increasing environmental consciousness, and the impact of policy changes promoting green transportation. The demand could also be influenced by emerging fitness trends and infrastructure developments that support cycling.
