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Latin America Bike Sharing Market Size (2024 - 2029)

The Latin America bike sharing market is experiencing growth driven by factors such as increasing traffic congestion, inadequate public transport, rising road fatalities, and heightened environmental awareness. This market is benefiting from the adaptation of successful bike sharing models from developed countries to smaller Latin American nations. The popularity of company bike leasing is on the rise, and the introduction of electric bikes is expanding the market's scope.

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Market Size of Latin America Bike Sharing Industry

Latin America Bike Sharing Market Overview
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

Latin America Bike Sharing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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
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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.

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Latin America Bike Sharing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Bike Type

      1. 2.1.1 Traditional/Regular Bike

      2. 2.1.2 E-bike

    2. 2.2 By Sharing System Type

      1. 2.2.1 Docked

      2. 2.2.2 Dockless

    3. 2.3 By Country

      1. 2.3.1 Brazil

      2. 2.3.2 Argentina

      3. 2.3.3 Mexico

      4. 2.3.4 Colombia

      5. 2.3.5 Rest of Latin America

Latin America Bike Sharing Market Size FAQs

The Latin America Bike Sharing Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Tembici, Bim Bim Bikes, Grow mobility, Loop and Mobike are the major companies operating in the Latin America Bike Sharing Market.

Latin America Bike Sharing Market Report Snapshots

Latin America Bike Sharing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)