Mexico E-bike Market Size

The Mexico E-bike Market is experiencing growth, driven by the increasing adoption of e-bike culture and technological advancements. The market's expansion is influenced by the demand for speed pedelecs, which offer enhanced power and speed, making them suitable for urban commuting in congested cities. Despite regulatory limitations on throttle-assisted e-bikes, the market is seeing a shift towards pedal-assisted models due to their practicality for shorter distances. The rising fuel prices are prompting both the government and consumers to embrace electric mobility, contributing to the market's growth trajectory.

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Market Size of mexico e-bike Industry

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Mexico E-bike Market Summary
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 6.07 Million
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 7.50 Million
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Propulsion Type Pedal Assisted
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 4.32 %
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Propulsion Type Speed Pedelec

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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Mexico E-bike Market Analysis

The Mexico E-bike Market size is estimated at 6.07 million USD in 2024, and is expected to reach 7.50 million USD by 2029, growing at a CAGR of 4.32% during the forecast period (2024-2029).

6.07 Million

Market Size in 2024 (USD)

7.50 Million

Market Size in 2029 (USD)

5.72 %

CAGR (2017-2023)

4.32 %

CAGR (2024-2029)

Largest Segment by Propulsion Type

87.04 %

value share, Pedal Assisted, 2023

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The integration of pedal-assisted e-bikes in bike-sharing systems by operators and the preference for such bikes by customers due to the non-requirement of a driving license benefitted the growth of the pedal-assisted e-bike segment in the Mexican e-bike market.

Largest Segment by Application Type

79.65 %

value share, City/Urban, 2023

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After the COVID-19 pandemic, commuters were hesitant to travel using public transportation, which created a favorable condition for the city/urban e-bike segment as city/urban e-bikes are the cheapest means of personal transport.

Largest Segment by Battery Type

82.83 %

value share, Lithium-ion Battery, 2023

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Li-ion batteries have a greater life span (more than 2,000 charge cycles) compared to sealed lead-acid batteries (maximum of 400 charges). Li-ion batteries allow fast charging (2-3 hours) compared to sealed lead-acid batteries (7-8 hours).

Fastest-growing Segment by Propulsion Type

13.71 %

Projected CAGR, Speed Pedelec, 2024-2029

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The improving e-bike infrastructure in major cities in the country and the increasing demand for mountain bikes are expected to give rise to the sales of speed pedelec e-bikes during the forecast period.

Leading Market Player

16.70 %

market share, Bicicletas Mercurio SA De CV, 2022

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Mexico electric bike market was highly fragmented in nature in 2022. Bicicletas Mercurio SA De CV and Trek Bicycles witnessed increase in sales of electric bikes by significant rate in 2022.

PROPULSION SEGMENT MARKET OVERVIEW

  • Mexico is one of the first countries in North America to embrace the e-bike culture. In 2019, Mexico had 340 pedal-assisted bicycles and 28 new stations, accounting for 5% of the overall fleet. The function of a speed pedelec is similar to a standard e-bike pedelec, where turning the pedals activates the electric help. These bicycles have recently gained popularity in Mexico due to their increased feasibility and features. Throttle-assisted e-bikes are utilized in mountainous and difficult terrains, allowing users to travel faster and with less effort.
  • Traffic is a serious issue in Latin American cities such as Mexico City and Sao Paulo. Nonetheless, technological development and lightweight materials assist the e-bike market's quick growth. Speed pedelecs, which allow riders to reduce the time taken for journeys more than regular pedelecs, could be one of the keys to unlocking a more sustainable transportation future in Mexico. As such power and speed capabilities improve, consumers will surely gravitate toward the speed pedelecs segment in the next years. Still, from a price standpoint, some audiences will undoubtedly opt for pedal-assisted e-bikes as well.
  • The government and consumers are expected to turn toward electric mobility due to the increasing fuel prices. As the pedal assist bicycle is better suited for shorter distances, the speed pedelec will be the most practical option in the near future. As power and speed capabilities improve, consumers may likely gravitate toward speed pedelecs in the coming years. Although Mexico has legislation limiting the use of throttle-assisted e-bikes, they are far less common than pedal-assisted e-bikes. 
Mexico E-bike Market

Mexico E-bike Industry Segmentation

Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type.

  • Mexico is one of the first countries in North America to embrace the e-bike culture. In 2019, Mexico had 340 pedal-assisted bicycles and 28 new stations, accounting for 5% of the overall fleet. The function of a speed pedelec is similar to a standard e-bike pedelec, where turning the pedals activates the electric help. These bicycles have recently gained popularity in Mexico due to their increased feasibility and features. Throttle-assisted e-bikes are utilized in mountainous and difficult terrains, allowing users to travel faster and with less effort.
  • Traffic is a serious issue in Latin American cities such as Mexico City and Sao Paulo. Nonetheless, technological development and lightweight materials assist the e-bike market's quick growth. Speed pedelecs, which allow riders to reduce the time taken for journeys more than regular pedelecs, could be one of the keys to unlocking a more sustainable transportation future in Mexico. As such power and speed capabilities improve, consumers will surely gravitate toward the speed pedelecs segment in the next years. Still, from a price standpoint, some audiences will undoubtedly opt for pedal-assisted e-bikes as well.
  • The government and consumers are expected to turn toward electric mobility due to the increasing fuel prices. As the pedal assist bicycle is better suited for shorter distances, the speed pedelec will be the most practical option in the near future. As power and speed capabilities improve, consumers may likely gravitate toward speed pedelecs in the coming years. Although Mexico has legislation limiting the use of throttle-assisted e-bikes, they are far less common than pedal-assisted e-bikes. 
Propulsion Type
Pedal Assisted
Speed Pedelec
Throttle Assisted
Application Type
Cargo/Utility
City/Urban
Trekking
Battery Type
Lead Acid Battery
Lithium-ion Battery
Others
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Mexico E-bike Market Size Summary

The Mexico e-bike market is experiencing a notable transformation, driven by the country's early adoption of e-bike culture in North America. The market is characterized by the growing popularity of pedal-assisted and throttle-assisted e-bikes, particularly in urban areas like Mexico City, where traffic congestion is a significant issue. Technological advancements and the use of lightweight materials are facilitating the rapid expansion of this market. Speed pedelecs, which offer enhanced power and speed, are expected to attract more consumers in the coming years, although pedal-assisted e-bikes remain a cost-effective option for many. The increasing fuel prices and a shift towards electric mobility are further propelling the market's growth, with government initiatives and consumer preferences aligning towards more sustainable transportation solutions.

The market landscape is fragmented, with key players such as Bicicletas Mercurio SA De CV, Propella Electric Bikes, Specialized Bicycle Components, Trek Bicycle Corporation, and Yamaha Bicycles holding significant shares. The market faced challenges during the COVID-19 pandemic, leading to a decline in sales due to import dependencies and product shortages. However, the resumption of business operations and the easing of trade barriers have spurred a recovery, with advanced e-bike models attracting more consumers. The market is projected to continue its growth trajectory, supported by increasing health consciousness, environmental awareness, and government efforts to promote e-bicycles.

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Mexico E-bike Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Propulsion Type

      1. 1.1.1 Pedal Assisted

      2. 1.1.2 Speed Pedelec

      3. 1.1.3 Throttle Assisted

    2. 1.2 Application Type

      1. 1.2.1 Cargo/Utility

      2. 1.2.2 City/Urban

      3. 1.2.3 Trekking

    3. 1.3 Battery Type

      1. 1.3.1 Lead Acid Battery

      2. 1.3.2 Lithium-ion Battery

      3. 1.3.3 Others

Mexico E-bike Market Size FAQs

The Mexico E-bike Market size is expected to reach USD 6.07 million in 2024 and grow at a CAGR of 4.32% to reach USD 7.50 million by 2029.

In 2024, the Mexico E-bike Market size is expected to reach USD 6.07 million.

Mexico E-bike Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029