The South African market for bicycle and motorcycle parts and accessories experienced a decline from 2013 to 2023, reaching a value of USD 213.44 million in 2023. The market saw consistent decreases in the early years, with minor recoveries post-2020, indicating some resilience. Despite this, the overall compound annual growth rate (CAGR) over the last five years stands at -1.8%, showing persistent contraction.
- Year-on-year variations show significant fluctuations, especially a drastic fall in 2020, followed by a modest rebound in 2021 and 2022.
- Minor decline again in 2023 suggests a lack of sustained recovery momentum.
Future trends to watch for include innovations in e-bike and electric motorcycle components, which could stimulate market growth. Growth will also depend on economic conditions, government policies promoting sustainable transport, and consumer preferences shifting towards eco-friendlier options.
