Market Size of south america e-bike Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 122.13 Million |
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Market Size (2029) | USD 162.03 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 5.82 % |
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Largest Share by Country | Brazil |
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Market Concentration | High |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
South America E-Bike Market Analysis
The South America E-Bike Market size is estimated at 122.13 million USD in 2024, and is expected to reach 162.03 million USD by 2029, growing at a CAGR of 5.82% during the forecast period (2024-2029).
122.13 Million
Market Size in 2024 (USD)
162.03 Million
Market Size in 2029 (USD)
11.12 %
CAGR (2017-2023)
5.82 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
83.91 %
value share, Pedal Assisted, 2023
Pedal assist is the largest propulsion type since it is easy to buy, offers good health advantages, can easily lift weights, and requires little maintenance.
Largest Segment by Application Type
81.72 %
value share, City/Urban, 2023
The use of e-bikes for various applications, such as logistics and e-bike rental services and daily commuting to school and offices, has made the city/urban segment the largest application type.
Largest Segment by Battery Type
80.71 %
value share, Lithium-ion Battery, 2023
Modern technology, improved range options, long battery lifespan, and quick charging capabilities are the factors promoting the usage of lithium-ion batteries in e-bicycles.
Largest Country
16.47 %
value share, Brazil, 2023
Due to Brazil having the highest population in the region and the usage of e-bikes for various purposes, such as traveling to offices, schools, and market areas, the country is the largest market for e-bikes.
Leading Market Player
24.81 %
market share, Pon Bicycle Holding BV, 2022
Pon Bike is the largest company for electric bikes in South American countries due to its broad product offering, reputed brand name, and easy access to its products as of its strong supply chain network.
Propulsion Segment Market Overview
- The South American e-bike market, characterized by its diverse range of propulsion types, is experiencing significant growth and transformation. Among the various propulsion types, pedal-assisted and throttle-on-demand e-bikes are the most prevalent. Pedal-assisted e-bikes are favored for their efficiency and the ability to offer a more traditional cycling experience, aligning well with the health-conscious and environmentally aware consumer base. Throttle-on-demand e-bikes cater to those seeking convenience and ease of use, particularly in urban settings where quick and effortless commuting is a priority.
- However, because of the economic crisis in some of the major market regions, which was there even before the world was hit by the COVID-19 pandemic and Argentina was facing a third year of recession in 2020. Now, with the pandemic’s economic shock, it is expected that a record contraction in the crisis-prone country. Yet, it is expected that in the near future, the government of the country will take the necessary steps to bring the economy back to the growth trajectory, and the market will grow even at a high rate.
- With the government ramping up the country's e-bikes, many bike-sharing platforms have entered Argentina to leverage the business opportunities created. The government and private investors are launching several bike-sharing programs in the country to promote e-bikes and control environmental pollution. For instance, in November 2019, Canadian bike-sharing company, PBSC Urban Solutions, announced a successful rollout in Buenos Aires, the capital of Argentina, introducing 4,000 ICONIC bikes to the capital city, doubling the shared bikes available in the city.
Understand The Key Trends Shaping This Market
SOUTH AMERICA COUNTRY LEVEL MARKET OVERVIEW
- Although the Latin American market for electric mobility is nascent, at least 45% of the countries in the region have already adopted measures that favor its growth. Some local and global companies have also decided to make partial replacements of their existing fleets regionally to adapt to GHG reduction targets and reduce their costs. The Latin American region can particularly benefit from the accelerated transition to electric mobility, considering that it has one of the electricity generation matrices with lower GHG emissions due to the high hydroelectricity generation and the progressive evolution of other renewable energy sources in the market. In the South American economies, public policies are also helping drive the market for electric vehicles.
- The South American electric bicycle market is highly fragmented and not dominated by a few major players with a monopoly over manufacturing and sales of the product. Instead, the market is highly competitive without any dominant players. The companies recording the highest sales include Giant Bicycles, Merida, Trek Bikes, and Riese & Muller.
- In line with rising gasoline costs, governments and the general public are increasingly expected to choose electric vehicles. The speed pedelec will soon be the most practical choice among e-bikes because the pedal-assisted e-bike is better suited for shorter trips. Over the coming years, people are expected to gravitate toward speed pedelecs as their power and speed capabilities advance. Although throttle-assisted e-bikes are prohibited by law in South America, they are far less common than pedal-assisted e-bikes.
South America E-Bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type. Argentina, Brazil, Rest-of-South America are covered as segments by Country.
- The South American e-bike market, characterized by its diverse range of propulsion types, is experiencing significant growth and transformation. Among the various propulsion types, pedal-assisted and throttle-on-demand e-bikes are the most prevalent. Pedal-assisted e-bikes are favored for their efficiency and the ability to offer a more traditional cycling experience, aligning well with the health-conscious and environmentally aware consumer base. Throttle-on-demand e-bikes cater to those seeking convenience and ease of use, particularly in urban settings where quick and effortless commuting is a priority.
- However, because of the economic crisis in some of the major market regions, which was there even before the world was hit by the COVID-19 pandemic and Argentina was facing a third year of recession in 2020. Now, with the pandemic’s economic shock, it is expected that a record contraction in the crisis-prone country. Yet, it is expected that in the near future, the government of the country will take the necessary steps to bring the economy back to the growth trajectory, and the market will grow even at a high rate.
- With the government ramping up the country's e-bikes, many bike-sharing platforms have entered Argentina to leverage the business opportunities created. The government and private investors are launching several bike-sharing programs in the country to promote e-bikes and control environmental pollution. For instance, in November 2019, Canadian bike-sharing company, PBSC Urban Solutions, announced a successful rollout in Buenos Aires, the capital of Argentina, introducing 4,000 ICONIC bikes to the capital city, doubling the shared bikes available in the city.
| Propulsion Type | |
| Pedal Assisted | |
| Speed Pedelec | |
| Throttle Assisted |
| Application Type | |
| City/Urban | |
| Trekking |
| Battery Type | |
| Lead Acid Battery | |
| Lithium-ion Battery | |
| Others |
| Country | |
| Argentina | |
| Brazil | |
| Rest-of-South America |
Need A Different Region Or Segment?
South America E-Bike Market Size Summary
The South American e-bike market is undergoing significant growth and transformation, driven by a diverse range of propulsion types, including pedal-assisted and throttle-on-demand e-bikes. Pedal-assisted models are particularly popular due to their efficiency and alignment with health-conscious and environmentally aware consumers. In contrast, throttle-on-demand e-bikes offer convenience, especially in urban areas where quick commuting is essential. Despite economic challenges in regions like Argentina, which has faced recession and pandemic-related economic shocks, government initiatives and private investments are fostering the growth of e-bikes. Bike-sharing programs are being launched to promote e-bikes and reduce environmental pollution, with companies like PBSC Urban Solutions expanding their presence in cities like Buenos Aires. The Latin American market, while still nascent, is seeing supportive measures from at least 45% of countries, aiming to accelerate the transition to electric mobility, leveraging the region's low GHG emissions from electricity generation.
The South American e-bike market is characterized by high fragmentation and competitiveness, with no single player dominating the market. Companies such as Giant Bicycles, Merida, Trek Bikes, and Riese & Muller are among those recording significant sales. The market is witnessing a shift towards speed pedelecs, which offer better power and speed for longer trips, although pedal-assisted e-bikes remain more common. The shared e-bike category is experiencing higher growth, particularly in Argentina and Brazil, where bike-sharing operators are expanding their fleets. The COVID-19 pandemic has also influenced consumer behavior, with more people opting for bicycles for short commutes, driven by the need for efficient, carbon-free transportation. The removal of COVID-19 restrictions and the resumption of business operations have further boosted bicycle commuting, making it a popular choice for daily travel in countries like Brazil. The market is fairly consolidated, with major players holding a significant share, and recent developments include new product introductions and strategic acquisitions to enhance market reach.
South America E-Bike Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Propulsion Type
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1.1.1 Pedal Assisted
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1.1.2 Speed Pedelec
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1.1.3 Throttle Assisted
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1.2 Application Type
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1.2.1 City/Urban
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1.2.2 Trekking
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1.3 Battery Type
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1.3.1 Lead Acid Battery
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1.3.2 Lithium-ion Battery
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1.3.3 Others
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1.4 Country
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1.4.1 Argentina
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1.4.2 Brazil
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1.4.3 Rest-of-South America
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South America E-Bike Market Size FAQs
How big is the South America E-Bike Market?
The South America E-Bike Market size is expected to reach USD 122.13 million in 2024 and grow at a CAGR of 5.82% to reach USD 162.03 million by 2029.
What is the current South America E-Bike Market size?
In 2024, the South America E-Bike Market size is expected to reach USD 122.13 million.
