Latin America Bicycle Market Size & Outlook, 2023-2030
Latin America bicycle market, 2018-2030 (US$M)
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Latin America bicycle market highlights
- The Latin America bicycle market generated a revenue of USD 8,172.7 million in 2023.
- The market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, road bikes was the largest revenue generating product in 2023.
- Cargo Bikes is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 8,172.7 million |
| Market revenue in 2030 | USD 13,478.2 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Road bikes |
| Fastest growing segment | Cargo Bikes |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes |
| Key market players worldwide | Accell, Avon Protection PLC, Dorel Industries Inc Shs -B- Subord.Voting, Giant Bicycle, MERIDA BIKES, Specialized Bicycle Components, The Scotts Miracle Gro Co Class A, Trek Resources Inc, Atlas Cycles, Cervelo Cycles, Beistegui Hermanos, Axalko, Mammoth Mountain Ski Area |
Other key industry trends
- In terms of revenue, Latin America region accounted for 12.0% of the global bicycle market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 41,707.7 million by 2030.
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Bicycle Market Scope
Bicycle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America bicycle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bicycle market will help companies and investors design strategic landscapes.
Road bikes was the largest segment with a revenue share of 39.17% in 2023. Horizon Databook has segmented the Latin America bicycle market based on mountain bikes, hybrid bikes, road bikes, cargo bikes covering the revenue growth of each sub-segment from 2018 to 2030.
The bicycle market is gaining popularity in Latin America owing to various reasons. According to INRIX Global Traffic Scorecard, traffic is one of the major problems in Latin American cities such as Bogota, Mexico City, and Sao Paulo. Many individuals are turning to e-bikes as a result of the increasing awareness about environmental concerns and rising traffic congestion.
Additionally, the e-bike leasing practice is becoming popular in the region owing to the cost-effectiveness of e-bikes. The Latin American market is consolidated with the presence of limited players.
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Our clientele includes a mix of bicycle market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America bicycle market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America bicycle market size, by country, 2018-2030 (US$M)
Latin America Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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