The motorcycles market in Canada exhibited varied trends from 2012 to 2022. Initially, the market grew significantly, particularly in 2013, which saw a substantial year-on-year increase of 12.09%. However, this growth was offset by notable contractions in 2014 and 2015, with year-on-year declines of 7.8% and 18.45%, respectively. From 2016 onward, the market struggled to maintain consistent growth, displaying fluctuations with minimal average annual changes. By 2022, the market illustrated a slight recovery with a 5.17% increase from the previous year, although the overall five-year CAGR hovered around 0.025%. In 2023, the market size stood at 1.9 billion USD.
Future trends to watch for include:
- Greater adoption of electric motorcycles as environmental concerns intensify.
- Technological advancements in safety and connectivity features.
- Potential impact of economic fluctuations on consumer spending.
- Evolving regulatory frameworks and their effects on market dynamics.
How does Canada rank in Motorcycles Market Size Value?
| # | 15 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 9,469,400,000 | 2023 | +3.95% | +6.61% | View data |
| 2 | 2 Italy | 5,294,200,000 | 2023 | -1.59% | -0.74% | View data |
| 3 | 3 France | 4,765,200,000 | 2023 | -10.74% | -6.61% | View data |
| 4 | 4 United Kingdom | 3,144,100,000 | 2023 | -0.48% | -1.07% | View data |
| 5 | 5 Canada | 1,822,400,000 | 2023 | -0.11% | -1.67% | |
| 6 | 6 Austria | 1,301,400,000 | 2023 | +2.95% | +4.67% | View data |
| 7 | 7 Kenya | 807,070,000 | 2023 | +5.19% | +6.5% | View data |
