The Canadian market for motorcycles with spark ignition engines of 500-800 cc has shown varied trends from 2013 to 2023. The per capita value decreased from 7.4 USD in 2013 to 4.06 USD in 2023. The market experienced a significant drop from 2013 to 2020, reaching a low of 3.72 USD in 2020. Since then, there has been a slight recovery with a per capita value of 4.06 USD in 2023, showing modest growth post-2020. The YoY variation from 2021 to 2022 witnessed an increase of 1.94%, while from 2022 to 2023, a decrease of 3.33% was observed. Over the last five years, the compound annual growth rate (CAGR) stood at approximately -0.32%.
Future trends to watch for in this market include potential increases in demand driven by technological advancements, increasing urbanization, and evolving consumer preferences for more sustainable and fuel-efficient motorcycles. Rising environmental concerns might also lead manufacturers to innovate in hybrid or electric models, impacting market dynamics. Monitoring economic and regulatory changes in Canada will be crucial for projecting future growth patterns in this segment.
