Market Size of mexico e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 6.07 Million |
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Market Size (2029) | USD 7.50 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 4.32 % |
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Fastest Growing by Propulsion Type | Speed Pedelec |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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
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
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
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
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
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.
Understand The Key Trends Shaping This Market
