South & Central America E-Bike Market Forecast to 2030 - Regional Analysis - by Battery Type, Motor Type, Class, and Mode

The South & Central America e-bike market was valued at US$ 306.92 million in 2022 and is expected to reach US$ 944.16 million by 2030; it is estimated to grow at a CAGR of 15.1% from 2022 to 2030.

Rising Adoption of Connected E-Bikes Among Business and Government Sectors Fuels the South & Central America E-Bike Market

The connected e-bike is gaining popularity across the world owing to growing urbanization and rising traffic congestion issues. The urban population uses e-bikes to avoid the traffic congestion problems. Also, rising urbanization and increasing government spending on cycling tracks and e-bike connection infrastructure would offer opportunities for the global e-bike market in the coming years. According to the U.N. Organizations, around 55.0% of the global population lives in urban areas, and it is projected to reach 68% by 2050. Transportation systems are not built to cope with the future demand of rising congestion and pollution. To tackle such problems, the key players are launching connected e-bikes with built-in scanners to pay and lock. This electric bike is available and can be charged based on the time and distance traveled by the users. Several business entities and key players are adopting multiple strategies such as partnerships and collaborations to provide connected e-bikes for traveling short distances to avoid traffic congestion.

Further, in July 2023, Hero Electric partnered with Maxwell Energy Systems to offer battery management systems to more than 1 million units for the next three years.

Such, rising adoption and development of the e-bike models and e-bike sharing platforms among the individuals around the globe is expected to create ample opportunity for the market growth. Several companies are launching the e-bike sharing platforms to avoid the traffic congestion problems around the globe which is expected to create tremendous opportunity in upcoming future.

South & Central America E-Bike Market Overview

Growing urbanization, rising investments in cycling track development, and increasing consumer awareness regarding environmentally friendly transportation drive the e-bike market growth. Governments of several countries announce ample investments and subsidies for the adoption of e-bikes.

The e-bike market in South American countries is growing moderately due to a lack of manufacturers and government incentive schemes to adopt e-bikes and electric vehicles. According to data from the Brazilian Bicycle Association, sales of e-bikes in Brazil increased by 27% in 2021 compared to previous year 2020. The market predicts that this year's sales may increase by another 50%. In other words, total sales of electric bicycles in Brazil exceeded to around 60,000 in 2022. According to Alianca Bike, the Brazilian Association of the Bicycle Sector, the market for electric bicycles expanded by 24.5% from January to August 2021 compared to the previous year's period.

South & Central America E-Bike Market Segmentation

The South & Central America e-bike market is segmented based on battery type, motor type, class, mode, and country.

Based on battery type, the South & Central America e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held the largest South & Central America e-bike market share in 2022.

In terms of motor type, the South & Central America e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held a larger South & Central America e-bike market share in 2022.

Based on class, the South & Central America e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held the largest South & Central America e-bike market share in 2022.

By mode, the South & Central America e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held a larger South & Central America e-bike market share in 2022.

Based on country, the South & Central America e-bike market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America e-bike market in 2022.

Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd are some of the leading companies operating in the South & Central America e-bike market.