Market Insights and Analysis: Latin America Electric Bicycle Market Overview and Projections (2023-2028)
The Latin America Electric Bicycle Market is projected to grow at a CAGR of around 7.2% during the forecast period, i.e., 2023-28.
Top leading companies in the Latin America Electric Bicycle Market includes:
E Mov Inc., Trek Bike Corporation, Brazil Electric Bikes, Merida Bikes, Caloi, Ridley Bikes, Haibike, Lev Bicycle, Vela Bikes, E-Moving, and Others
Latin America Electric Bicycle Market Opportunities: Mounting Popularity of Electric Bicycle-sharing Services to Result in the Growth
The transition towards sustainable mobility & the high fuel prices have resulted in people switching to shared electric bicycle services in the region. The daily commuters find it very convenient to rent electric bicycles from their nearby station & travel to their desired destination.
For convenience, shared e-bicycles are cost-effective as no maintenance is needed. Due to this, the popularity of electric bicycles is growing among the population in Latin America. Considering this pattern, the existing shared mobility service providers are introducing their dedicated electric bicycle fleet to grab the emerging revenue opportunity. For instance:
In 2023 Uber Technologies announced to partner with Tembici to offer electric bicycle shared services in Latin America. Under the plan, the company aims to roll out nearly 10,000 electric bikes in Brazil by the end of 2023.
Furthermore, in the coming years, more shared mobility services providers are expected to increase their electric bicycle fleet size to offer services due to the rising tourism industry & surging focus of the regional governments to provide sustainable mobility. This emerges as an opportunity for electric bicycle manufacturers, thus creating a conducive environment for the growth of the Latin America Electric Bicycle market during 2023-28.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Propulsion
-Pedal Assisted
-Throttle Assisted (Power on demand)
- Pedal-assisted electric bicycle holds a significant share as almost every electric bicycle comes in the pedal-assisted format to allow the rider full control over the vehicle.
By Application
-Urban Commute
-Trekking
-Cargo
By Battery Type
-Lithium Ion Battery
-Lead Acid Battery
-Others (Nickel Metal Hydride, Nickel Cadmium, etc.)
By Battery Capacity
-Less than 250 W
-251 W to 450 W
-451 W to 650 W
-Above 651 W
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Latin America Electric Bicycle Market Geographic Reach:
The Geographic Reach of the Latin America Electric Bicycle Market evaluates the spread and significance of Latin America Electric Bicycle Market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- Mexico
- Brazil
- Argentina
- Columbia
- Rest of Latin America
Note: If you require specific information not covered in the current report, we can provide it through customized option
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