Over the years, the non-electric bicycles market in Australia has shown fluctuations. From 2013 to 2023, the market size value has declined from 1.2664 Billion USD to 0.92179 Billion USD. Notably, from 2013, there were steep drops, especially in 2016 (-13.83%) and 2019 (-5.33%). The average annual growth over the last five years (CAGR) is -1.65%. In the last two years specifically, the market contracted by approximately 0.97% each year.
Looking ahead, forecasts suggest a continued but modest decline in market size, with the 5-year forecast CAGR estimated at -0.75% from 2024 to 2028. By 2028, the market is predicted to further drop to 0.87936 Billion USD, marking an overall 3.68% decrease from 2023.
Future trends to watch for include potential influences from sustainability and fitness trends, evolving consumer preferences towards higher quality or specialized bicycles, and potential economic factors impacting disposable income and leisure spending. These aspects could impact the extent to which the market stabilizes or continues to decline.
