The non-electric bicycle market in Japan has shown a continuous decline in value over the past decade, decreasing from 4.6366 Billion USD in 2013 to 2.612 Billion USD in 2023. Specifically, the market has decreased by an average of 6.26% per year over the last five years. The last two years also reflect this downward trend with a year-on-year decrease of 7.23% in 2022 and 7.72% in 2023.
Forecasts suggest that this decline will continue, with the market expected to reach 1.5516 Billion USD by 2028, reflecting an average annual decrease of 8.32% over the next five years.
Future trends to watch for include innovations in electric bicycles, which might be drawing away consumers from traditional bicycles, changes in urban mobility preferences, and government policies promoting eco-friendly transportation options. Additionally, the impact of population aging and urbanization trends may also influence future market dynamics.
