From 2013 to 2023, Canada saw a consistent increase in the market size value per capita for motorcycles with spark ignition engines of 250-500 cc. In 2023, the value stood at $4.8, marking a 1.5% growth from the previous year. The Compound Annual Growth Rate (CAGR) over the last five years is approximately 4.4%. Notably, recent years have seen fluctuations, including a notable recovery between 2020 and 2021.
Future trends to watch for:
- Emerging electric motorcycle options gaining consumer interest
- Potential economic factors influencing discretionary spending
- Shifts in consumer preferences towards eco-friendly transportation
