Market Size of Latin America Bike Sharing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Bike Sharing Market Analysis
The Latin America bike sharing market is poised to register a CAGR of over 6% during the forecast period (2020-2025).
- Increasing traffic congestion, insufficient mass public transport, increasing rates of road fatalities, growing awareness among peoples for environmental concerns, will drive the bike sharing market. Bike sharing provide a convenient way of transportation at minimum cost without any hassle.
- The idea of company bike leasing is becoming increasingly popular in Latin America. bike sharing solutions are successfully adapting success stories of developed countries to small Latin American countries.
- After the success of bike sharing option of conventional bikes many startups and companies started adding electric bikes in their fleet or increasing their fleet. For instance, in June 2020, Tembici has received a USD 47 million series B funding by Valor Capital and Redpoint eventures, through which company is planning to double its electric bike fleet and to expand in other major cities of the region.
Latin America Bike Sharing Industry Segmentation
The bike sharing market is segmented by bike type (traditional/regular bike and e-bike), sharing system (docked and dockless), and by Country.
| By Bike Type | |
| Traditional/Regular Bike | |
| E-bike |
| By Sharing System Type | |
| Docked | |
| Dockless |
| By Country | |
| Brazil | |
| Argentina | |
| Mexico | |
| Colombia | |
| Rest of Latin America |
Latin America Bike Sharing Market Size Summary
The Latin America bike sharing market is experiencing significant growth, driven by factors such as increasing traffic congestion, inadequate public transport, and heightened environmental awareness. The market is characterized by the adoption of bike sharing solutions that offer cost-effective and convenient transportation alternatives. The trend of company bike leasing is gaining traction, with startups and established companies expanding their fleets to include electric bikes, adapting successful models from developed countries to the region. This shift is further supported by investments from venture capital firms, enabling companies like Tembici and MUVO to expand their operations and enhance their offerings in major cities. The market is also witnessing the entry of US-based startups, such as Bird and Lime, which are introducing innovative solutions to address challenges like irresponsible riding and parking.
The Latin America bike sharing market is relatively consolidated, with a few regional players dominating the landscape, although new startups are continuously emerging. The market's growth is fueled by advanced technology, user-friendly rental schemes, and increasing investments. Major players are expanding their market presence and fleet sizes to provide a more convenient commuting experience. Notable developments include the merger of Grin and Yellow to form Grow Mobility, which aims to double its fleet and expand regionally. Additionally, Uber's introduction of electric bikes in Chile and Bird's acquisition of Scoot highlight the dynamic nature of the market. The evolving consumer preferences, particularly among the younger generation, are shifting from car ownership to on-demand transportation options, further propelling the growth of bike sharing services in the region.
Latin America Bike Sharing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Bike Type
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2.1.1 Traditional/Regular Bike
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2.1.2 E-bike
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2.2 By Sharing System Type
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2.2.1 Docked
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2.2.2 Dockless
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2.3 By Country
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2.3.1 Brazil
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2.3.2 Argentina
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2.3.3 Mexico
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2.3.4 Colombia
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2.3.5 Rest of Latin America
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Latin America Bike Sharing Market Size FAQs
What is the current Latin America Bike Sharing Market size?
The Latin America Bike Sharing Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Latin America Bike Sharing Market?
Tembici, Bim Bim Bikes, Grow mobility, Loop and Mobike are the major companies operating in the Latin America Bike Sharing Market.
