Mexico Bicycle Market Overview, 2027

A bicycle is a useful vehicle that helps to reach a destination without polluting the environment. Switching to walking or cycling for more of our shorter journeys helps to protect biodiversity. It creates less noise, less air pollution, and results in fewer emissions that are warming the atmosphere. From the research, it has been found that cycling to work is linked with a 45 per cent lower risk of developing cancer and a 46 per cent lower risk of cardiovascular disease, compared to commuting by car or public transport. Also, a surge in oil prices and the need to conserve natural resources are expected to drive the market for bicycles. More people around the world are choosing to pedal shorter distances to save on oil and fuel. Furthermore, riding a bicycle does not require a license, making it a healthy, inexpensive, and accessible mode of transportation for everybody. According to the report, "Mexico Bicycle Market Overview, 2027" published by Bonafide Research, the market is anticipated to witness prominent market growth during the upcoming timeframe. Continuously mounting demand for faster and cleaner modes of transportation is creating new opportunities for bicycle manufacturers across the country as the pollution created by emissions from gasoline-powered automobiles has reached new heights. In the meantime, green solution suppliers and manufacturers have seen this as an opportunity. Bicycle manufacturing companies present in the country are taking advantage of these circumstances to expand and grow their business. In addition to that, the bicycle market's growth is also driven by a rise in disposable income and a surge in consumer spending on the industry. Further, increased demand for bicycles as a handy mode of transportation to maintain a healthy lifestyle free of overweight and other illnesses is predicted to fuel future growth in the market. As a result, dockless bicycle-sharing systems, which do not need a docking station, are becoming more popular. Using this method, users may detect a bicycle in their immediate vicinity and electrically unlock it. On the other hand, electric bicycles, or e-bikes, have the highest potential for growth and will register an absolute incremental opportunity during the forecast period of 2022-2027 across the country. Electric cycles have emerged as the most convenient option for local commutes, which will drive the bicycle sector due to their numerous advantages. Electric bicycles, also referred to as pedelecs, provide a faster commute than traditional bicycles, and they also require less human effort to ride, overcoming one of the major disadvantages of traditional cycles. According to the report, the Mexico bicycle market is segmented into various types of bicycles, including road bikes, mountain bikes, hybrid bikes, and electric bikes. Among these types, e-bikes are projected to acquire a higher market share in 2021 and are expected to continue this growth. Further, the market is categorized into three end users, including men, women, and kids. The men's segment holds a major share of the market as the male population is more inclined towards biking and cycling than other segments. Additionally, men's growing inclination towards hiking and leisure activities is further driving the segmental growth. On the other hand, the kids & women segment is expected to showcase considerable growth during the forecast period owing to the increasing trend of holiday bicycling among households across the country. Based on the biker’s type, the market is segmented into four types, such as highly engaged, engaged, leisure, and travel. Among these types, leisure is anticipated to witness higher market growth by 2027 in the Mexico bicycle market. COVID-19 Impact: Strong consumer demand for various kinds of exercise-related items such as indoor and outdoor bikes, dumbbells, rowers, and other gym equipment to maintain health and fitness during the COVID-19 pandemic is likely to skyrocket the demand for bikes in Mexico. Additionally, the lack of public mobility vehicles such as trains, buses, and others due to lockdown restrictions has further sparked the consumer interest in buying such vehicles. However, sudden supply chain disruptions in the automobile industry during the pandemic period are expected to impose severe challenges to the overall industry growth. These challenges primarily include tightening cash flows between the small-scale equipment distributors companies associated with this market. The growing popularity of remote work among corporate professionals and others is expected to reduce the number of daily road commuters across the country. Considered in this report • Geography: Mexico • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Mexico Bicycle 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 Type • Road Bikes • Mountain Bikes • Hybrid Bikes • E-bikes • others By End User • Men • Women • Kids By Bikers Type • Highly Engaged • Engaged • Leisure • Travel 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 listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, 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 started, verifying the details obtained from secondary sources. Intended audience This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to 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.

Make this report your own

Have queries/questions regarding a report

Take advantage of intelligence tailored to your business objective

Ask an Expert

Manmayi Raval

Research Consultant

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now