Mexico Electric Bicycle (e-bike) Market Overview, 2027

"Mexico is witnessing a growing demand for sustainable mobility options, and electric bicycles (e-bikes) are at the forefront of this trend. With increasing concerns about environmental impact and the need to reduce carbon emissions, e-bikes have gained significant traction among Mexican consumers. The market reflects a strong appetite for eco-friendly transportation alternatives. E-bikes have emerged as a practical solution for urban commuting and addressing traffic congestion in Mexican cities. With the challenges of crowded streets and limited parking, e-bikes offer a convenient and efficient mode of transportation. They allow riders to navigate through traffic, bypass congested areas, and reach their destinations faster, all while reducing their carbon footprint. E-bikes are playing a pivotal role in addressing last-mile connectivity challenges in Mexico. They bridge the gap between public transportation hubs and final destinations, providing a convenient and sustainable option for short-distance travel. E-bikes enable commuters to complete their journeys seamlessly, reducing reliance on cars and contributing to enhanced urban connectivity. Mexico's rich cultural heritage and diverse landscapes make it an ideal destination for cultural exploration and tourism. E-bikes offer an exciting and eco-friendly way to explore Mexico's attractions, such as historical sites, scenic routes, and charming towns. E-bike rentals and guided tours have emerged as popular options, allowing visitors to immerse themselves in the local culture while embracing sustainable travel. According to the report, ""Mexico Electric Bicycle Market Overview, 2027"", published by Bonafide Research, the market is projected to expand at a significant growth rate during the forecast period. E-bikes have seamlessly integrated into Mexican culture, becoming a common sight on city streets and rural areas. Mexicans have embraced e-bikes as a practical and efficient mode of transportation that aligns with their vibrant and active lifestyle. Mexico's diverse landscapes, including coastal areas, ancient ruins, and natural wonders, provide unique opportunities for e-bike eco-tourism. E-bike tours and rentals have become popular among tourists and locals alike, offering an exciting and sustainable way to explore Mexico's cultural and natural treasures. E-bikes in Mexico are designed to handle both urban and rural environments. They can navigate through bustling city streets and conquer challenging terrains, such as hilly landscapes and unpaved roads. This versatility makes e-bikes suitable for a wide range of riding experiences. The Mexican government has shown support for e-bikes through various initiatives and policies. This includes promoting sustainable transportation alternatives, developing cycling infrastructure, and providing financial incentives for the purchase of e-bikes. Government support has played a crucial role in encouraging the adoption of e-bikes and fostering the growth of the market.

The e-Bike market is witnessing a lot of technological advancements for more optimized and reliable products. The connected e-Bike is one such advancement, wherein the SIM module enables the eBike to send and receive data to and from the cloud without a connected smartphone. The connected e-bikes provide advanced features like emergency calls, integrated navigation, social media connection, an anti-theft system, and remote diagnostics, which attract a larger customer base. Therefore, the trend for connected e-Bikes would create an opportunity for the e-Bike market to develop and grow during the forecast period. Consumer preference for e-bikes as an eco-friendly and efficient mode of transportation, rising fuel costs, and increased interest in cycling as a fitness and recreational activity across the country are expected to drive market growth. Furthermore, improvement in biking infrastructure and battery technology is expected to offer lucrative opportunities for the electric bike market's growth. According to the report, the Mexico electric bicycle (E-bike) market is segmented into two propulsion types, including pedal assist and throttle. Among these types, the pedal assist segment occupied a major portion of the market share in 2021 and is expected to continue growing during the forecast period. The higher market growth is attributed to its better battery life, lower servicing needs, and the ability for users to choose from three to five modes of pedal-assist depending on the model. However, the throttle segment is anticipated to exhibit a higher CAGR during the forecast period. Factors such as decreased pedaling effort in scenarios such as accelerating up a hill or cruising will drive the growth of this segment. Further, the market is segmented into three class types, including Class 1: Pedal Assist, Class 2: Throttle On Demand, and Class 3: Speed Pedelec. Class 1 e-bikes had the highest market revenue share in 2021 and are expected to maintain their dominance in the coming years. The rising demand for pedelecs because of their health assistance along with power assistance within the range of 25 kph that does not have any regulation on its driving is likely to propel the growth of class 1 e-bikes. Furthermore, based on the application, the city/urban segment is anticipated to dominate the market during the upcoming timeframe. COVID-19 Impacts: The COVID-19 outbreak has given a huge boost to the electric bike market. As people have become more cautious and with public transport taking a backseat even after the lifting of lockdowns, electric bikes have turned out to be the preferred choice of transport because it's fast, easy to ride, cheap and safe. The government restrictions and lockdowns during the first quarter of 2020 dampened the sale of e-Bikes as the stores were closed, and the commute was allowed for only essential services. However, after removing all impositions due to increased vaccination drives, things have started to normalize with the opening of offices and all other regular activity stores globally, which has again increased the regular travel scenario of commuters. The electric bike market is estimated to observe a huge boost in sales post-COVID-19 during the forecast period.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: Mexico • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Mexico Electric Bicycle (E-Bikes) market with its value and forecast along with its segments • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation Segment covered in the report • By Propulsion Type • Pedal Assist • Throttle

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By Class Type • Class 1: Pedal Assist • Class 2: Throttle On Demand • Class 3: Speed Pedelec By Battery Type • Lithium-Ion Battery • Lead-Acid Battery • Others By Application • City/Urban • Trekking (E-mountain Bikes/e-MTB) • Cargo • Others (Speed e-bikes, Foldable, Fat Bicycle) 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 electric 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. "