Latin America and the Caribbean: Bicycle Market 2024

Bicycle Market Size in Latin America and the Caribbean

The Latin American bicycle market fell to $X in 2022, waning by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Bicycle Production in Latin America and the Caribbean

In value terms, bicycle production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

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Bicycle Exports

Exports in Latin America and the Caribbean

After two years of growth, overseas shipments of bicycles and other cycles decreased by X% to X units in 2022. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, bicycle exports contracted significantly to $X in 2022. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Brazil (X units) was the largest exporter of bicycles and other cycles, creating X% of total exports. Chile (X units) held the second position in the ranking, followed by Costa Rica (X units), Panama (X units) and Colombia (X units). All these countries together held near X% share of total exports. The following exporters - Guatemala (X units) and Peru (X units) - each resulted at a X% share of total exports.

Exports from Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Peru (X%), Colombia (X%), Costa Rica (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Chile (X%) and Panama (X%) illustrated a downward trend over the same period. Brazil (X p.p.), Costa Rica (X p.p.), Colombia (X p.p.) and Peru (X p.p.) significantly strengthened its position in terms of the total exports, while Chile and Panama saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest bicycle supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Panama, with an X% share.

In Chile, bicycle exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Panama (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, waning by X% against the previous year. Overall, the export price, however, continues to indicate a mild increase. The growth pace was the most rapid in 2019 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per unit), while Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Bicycle Imports

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in overseas purchases of bicycles and other cycles, when their volume decreased by X% to X units. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then declined notably in the following year.

In value terms, bicycle imports reduced sharply to $X in 2022. Over the period under review, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then fell significantly in the following year.

Imports by Country

In 2022, Chile (X units), distantly followed by Mexico (X units), Colombia (X units), Peru (X units) and Ecuador (X units) represented the key importers of bicycles and other cycles, together achieving X% of total imports. Costa Rica (X units), the Dominican Republic (X units), Paraguay (X units), Uruguay (X units), Venezuela (X units), Guatemala (X units) and Panama (X units) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Colombia ($X), with a combined X% share of total imports.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, picking up by X% against the previous year. Import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bicycle import price increased by X% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Colombia ($X per unit), while the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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