The use of the bicycle as a means of transport does not only commit the citizens to their health and well-being by favouring the weekly physical activity hours proposed by the World Health Organization (WHO) but also improves mobility problems in large cities as are the Latin Americans. According to the report titled 'Latin America Bicycle Market Outlook, 2026' published by Actual Market Research, the market is likely to grow with a CAGR of over 3% in volume terms during the forecasted period.
Latin America is twice the size of Europe, it is anything but flat, there are many unpaved roads, and the weather has a big influence. Cycling in here is much less predictable than in Europe. In general, the wind in South America comes from the north-west. Generally, cyclists from north to south have more tail wind, especially in Patagonia this will be a huge advantage. While the mountain bikes dominate the market by value, the road bikes dominate by volume. The mountain bikes held a share of less than 40% by value, while the road bikes, majorly preferred for the daily commute, lead the market in volume in the same kind.
In 2018, approximately 325.6 million women lived in this region, around 50.77 percent of the total population. Yet to this, the contribution from the women cycle segment in terms of volume remained the least over the period. However, the market is expected to show a marginal rise in the share by the forecasted period, with incline of 0.40% in value share. The demand of social distancing is forcing cities across Latin America and the world to rethink public life. That includes a reconsideration of mass transit, with a number of public sector initiatives encouraging biking as a safer alternative.
The region is dominated by Brazil market, which holds the share of nearly 40% by value. The smaller regions also contribute significantly to the market, provided their financial status and the road quality being in favour of the cycle industry. These regions together are expected to contributed to 27.91% by volume by 2026. Few of the major players in the region are: Accell Group, Caloi, Derby Cycle , Dorel Industries Inc., Giant Bicycles, My Boo, Specialized Bicycle Components, Inc