MarkNtel Advisors recently published a detailed industry analysis of the Latin America Electric Bicycle Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Latin America Electric Bicycle Market (2023-2028)
The Latin America Electric Bicycle Market is projected to grow at a CAGR of around 7.2% during the forecast period, i.e., 2023-28.
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What is driving the Latin America Electric Bicycle market?
Gradual Shift Among the Individuals Towards Eco-friendly Mobility – Countries such as Brazil, Mexico, and others have been recording poor air quality & high rates of pollution. This is mainly due to the extensive usage of internal combustion-based vehicles & the heavy traffic congestion rate. According to the Brazil Air Quality Index in 2022, nearly 47% of the country’s energy-related carbon dioxide emissions are released by the transportation sector.
The release of harmful gases & particulate matter, in turn, resulted in severe respiratory diseases among the individuals. Therefore, leading to a behavioral change, where individuals in the region are gradually moving towards cleaner modes of transportation, such as electric bicycles, further augmenting the market growth. Daily urban commuters like working professionals & students have been transitioning to e-bicycles to reduce the overall carbon emissions from the transportation sector.
Bicycles are highly cost-effective in comparison to cars & motorbikes, can easily bypass highly congested city lanes, and do not require any additional parking space. Thus, owing to such environmental & economic factors, the adoption of electric bicycles has been growing, especially among the young population residing in the urban parts of the region.
In addition, the government across the region has set a target to substantially reduce carbon emissions by 2030 & achieve net neutrality by the year 2050. This, in turn, is fuelling the adoption of electric bicycles among the residents as well as mobility service providers across the region, thereby driving the Latin America Electric Bicycle Market.
What segments define the Latin America Electric Bicycle market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Propulsion
(Pedal Assisted, Throttle Assisted (Power on demand)),
By Application
(Urban Commute, Trekking, Cargo),
By Battery Type
(Lithium Ion Battery, Lead Acid Battery, Others (Nickel Metal Hydride, Nickel Cadmium, etc.)),
By Battery Capacity
(Less than 250 W, 251 W to 450 W, 451 W to 650 W, Above 651 W),
By Country
(Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
Explore the Complete Latin America Electric Bicycle Market Analysis Report – https://www.marknteladvisors.com/research-library/latin-america-electric-bicycle-market.html
Who are the leading key players shaping the Latin America Electric Bicycle Market landscape?
E Mov Inc., Trek Bike Corporation, Brazil Electric Bikes, Merida Bikes, Caloi, Ridley Bikes, Haibike, Lev Bicycle, Vela Bikes, E-Moving, and Others
Questions Addressed in this Study
1.What factors are driving the Latin America Electric Bicycle Market growth?
2.How is the Latin America Electric Bicycle Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Latin America Electric Bicycle Market?
4.What is the current size of the Latin America Electric Bicycle Market, and how is it projected to change in the future?
6.What is the future outlook for the Latin America Electric Bicycle Market in terms of technological advancements and market expansion?
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