Mexico Bicycle Market Size & Outlook, 2023-2030
Mexico bicycle market, 2018-2030 (US$M)
Related Markets
Mexico bicycle market highlights
- The Mexico bicycle market generated a revenue of USD 2,451.5 million in 2023 and is expected to reach USD 4,373.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 8.6% 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.
Bicycle market data book summary
| Market revenue in 2023 | USD 2,451.5 million |
| Market revenue in 2030 | USD 4,373.7 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Road bikes |
| Fastest growing segment | Cargo Bikes |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Mexico accounted for 3.6% of the global bicycle market in 2023.
- Country-wise, Canada is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil bicycle market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 4,373.7 million by 2030.
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Bicycle Market Scope
Bicycle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico 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 39.48% in 2023. Horizon Databook has segmented the Mexico 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 in Mexico is anticipated to witness prominent growth in the coming years. Bicycle sales in Mexico increased by 30% in 2020 during the pandemic. The market is expected to grow as a result of the rising demand for bicycles as a convenient means of transportation to maintain a healthy lifestyle.
Moreover, the growing demand for a cleaner and faster modes of transportation is creating opportunities for bicycle manufacturers in the country, which, in turn is anticipated to drive market growth. Further, electric bicycles have gained the attention of the major population in the country and have emerged as the convenient option for local commuting, which is driving the market growth.
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Target buyers of Mexico bicycle market databook
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Our clientele includes a mix of bicycle market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico bicycle market , including forecasts for subscribers. This country databook contains high-level insights into Mexico bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico bicycle market size, by product, 2018-2030 (US$M)
Mexico Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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