South America Bicycle Market Outlook, 2029

From Bogota to Ushuaia or from Ushuaia to Quito, both are iconic bicycle touring routes, and every year there are many cyclists undertaking adventures. Although South America is twice the size of Europe, it is anything but flat; there are many unpaved roads; and the weather has a big influence. Bicycles are making an impact in the cities of the region. In South America, there are already 12 cities that have a network of more than 12,000 public bicycles. However, the scenario varies considerably. While cities such as Bogota and Rio de Janeiro are breaking records in terms of kilometers of bike lanes, most central countries have no institutionalized networks.

Bogotá claimed the 12th spot in the Copenhagener Index, the most comprehensive ranking of bicycle-friendly cities in the world. That puts the Colombian metropolis ahead of Barcelona, Berlin, Montréal, and Vancouver, and behind heavy hitters like Copenhagen or Amsterdam. As other major South American cities step up their cycling ambitions, the region is expected to witness higher market growth. For instance, the city of Lima, with World Bank support, plans to retrofit no less than 1,300 kilometers of roads to make them safer and more bicycle-friendly. In 2018, Yellow, a Brazil-based bike sharing startup, raised around USD 9 million in seed round funding. At that time, it was the first dockless bike-sharing platform in Brazil. And for next year, the company has plans to introduce dockless electric bikes. Many startups are adding new bikes to their fleet to provide better options to customers. For instance, in 2019, Bird unveiled its new electric scooter, called the Bird Cruiser; It includes features such as hydraulic disc brakes, an LCD matrix display, and a 52-volt battery. At first, Bird Cruiser will only be utilized for the company’s bike sharing fleet, not for customer sales.

According to the research report “South America Bicycle Market Outlook, 2029,', The market is projected to reach market size USD 3.44 Billion by 2029. The growth of the bicycle market in South America is driven by several key factors. Increasing health consciousness among the population has led to a rise in demand for bicycles as a means of fitness and recreation. Additionally, environmental concerns are prompting consumers to seek eco-friendly transportation options, with e-bikes gaining popularity for their low emissions and efficiency. Government initiatives promoting cycling as a sustainable mode of transport, along with subsidies and tax breaks for bicycle purchases, further stimulate market growth.

The expansion of cycling infrastructure in countries like Brazil enhances accessibility and safety for cyclists, encouraging more people to adopt biking as a primary means of commuting. Moreover, the rising popularity of cycling-related sports and leisure activities contributes to the demand for various bicycle types, including road, mountain, and hybrid bikes.

The South American bicycle market showcases a variety of segments, including road bikes, mountain bikes, hybrid bikes, e-bikes, and others such as kids' bikes and standard models. Among these, e-bikes and road bikes emerge as the largest segments, reflecting a shift towards more efficient and performance-oriented cycling options. Road bikes are particularly popular among enthusiasts and competitive cyclists, as they offer speed and agility on paved surfaces, making them ideal for urban commuting and long-distance rides. Mountain bikes cater to the adventurous spirit, designed for rugged terrains and off-road trails, appealing to those who seek outdoor exploration.

Hybrid bikes, which combine features of both road and mountain bikes, provide versatility for various riding conditions. Additionally, the 'others' category includes bikes for children and specialized models like Mobility as a Service (MaaS) bikes, which are gaining traction in urban areas. The growing interest in cycling for leisure, fitness, and sustainable transportation is driving the expansion of these segments across South America.

In the South American athleisure market, the segmentation by end user includes men, women, and kids, with men holding the largest market share. This trend is largely attributed to the increasing popularity of athleisure wear among male consumers who prioritize comfort and versatility in their clothing choices. The women's segment is also growing rapidly, driven by a rising interest in fitness and wellness, which encourages women to seek stylish yet functional apparel for both athletic and casual settings. Additionally, the market is segmented by biker types into highly engaged, engaged, leisure, and travel bikers.

Among these categories, leisure bikers represent a significant portion of the market, as they favor comfortable attire for casual rides and outdoor activities. Notably, men and leisure bikers have the highest share inter-segmentally, indicating a strong preference for athleisure products that cater to relaxed yet active lifestyles. This dynamic landscape highlights the evolving consumer behavior in South America, where athleisure wear is becoming a staple for various demographics and activities.

The South American bicycle market is increasingly characterized by two primary technology types: electric and conventional bicycles. The electric bicycle segment is experiencing significant growth, driven by rising environmental awareness, urban congestion, and a preference for sustainable transportation options. Consumers are increasingly attracted to electric bikes for their ability to ease commuting challenges while promoting a healthier lifestyle.

In contrast, conventional bicycles continue to hold their ground, appealing to traditional cyclists who prefer a more straightforward and cost-effective riding experience. Despite the higher upfront costs associated with electric bikes, their benefits in terms of convenience and performance are leading to a shift in consumer preferences. However, the conventional segment remains relevant, particularly among budget-conscious consumers.

The South American bike sharing market is consolidated with the presence of a limited number of regional players, although various new startups are entering the market, such as Grin, Tembici, and Bird. The market is highly driven by factors like advanced technology, easy-to-use rental schemes, growing investment, and startups entering into new countries. Major bike rental service providers are expanding their market reach and adding more bikes to their fleet to provide a more convenient experience for commuters.

COVID-19 Impact

The COVID-19 pandemic significantly impacted the bicycle market. As lockdowns and social distancing measures were implemented, people turned to bicycles as a safe, healthy, and environmentally friendly mode of transportation and exercise. This led to a surge in demand, particularly for bicycles suitable for commuting and recreational activities. Additionally, the pandemic accelerated the development of cycling infrastructure in many cities, making cycling more accessible and convenient. While supply chain disruptions posed challenges, the long-term impact of the pandemic on the bicycle market is likely to be positive, with a sustained increase in cycling participation and a shift towards healthier and more sustainable lifestyles.

Considered in this report

• Geography: South America
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report

• South America Bicycle market with its value and forecast along with its segments
• Country-wise toy market analysis
• Various divers and challenges
• Ongoing trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation

Countries covered in the report

• Brazil
• Argentina
• Colombia

Segment covered in the report

By Type

• Road Bikes
• Mountain Bikes
• Hybrid Bikes
• E-bikes
• Others (Kids, standard, maas)

By End User

• Men
• Women
• Kids

By Bikers Type

• Highly Engaged
• Engaged
• Leisure
• Travel

By Technology Type

• Electric
• Conventional

The approach of the report

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing the government- generated reports and databases.

After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have verified the details obtained from secondary sources.

Intended audience

This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to bicycle products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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