The market size value per capita for bicycle frames, forks, and parts in Guatemala was stable in 2023 at $0.67, showing no change from the previous two years (2021-2022). The analysis over the last five years (2018-2023) reveals a compound annual growth rate (CAGR) of approximately 0.93%, indicating moderate growth.
From 2013 to 2023, the value increased by 8.1%, demonstrating long-term positive growth despite fluctuations. Notable variations include a decline from 2014 to 2015 and growth peaking in 2020, potentially driven by the pandemic-induced cycling boom.
Looking ahead, watch for:
- Economic developments influencing discretionary spending on leisure products.
- Potential growth in eco-friendly transportation impacting bicycle usage.
- Technological advancements in bicycle manufacturing.
| # | 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 | ||
| 10 | 10 Australia | 1.6 | 2023 | View data | ||
| 11 | 11 Norway | 1.5 | 2023 | View data | ||
| 12 | 12 Guatemala | 0.67 | 2023 | |||
| 13 | 13 Mexico | 0.63 | 2023 | View data | ||
| 14 | 14 Malaysia | 0.26 | 2023 | View data | ||
