Latin America and the Caribbean: Motorcycle And Bicycle Market 2025

Motorcycle And Bicycle Market Size in Latin America and the Caribbean

In 2021, the Latin American motorcycle and bicycle market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Motorcycle And Bicycle Production in Latin America and the Caribbean

In value terms, motorcycle and bicycle production totaled $X in 2021 estimated in export price. Over the period under review, production showed a abrupt shrinkage. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Motorcycle And Bicycle Exports

Exports in Latin America and the Caribbean

Motorcycle and bicycle exports skyrocketed to X units in 2021, increasing by 42% on the previous year. In general, exports, however, continue to indicate a noticeable contraction. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, motorcycle and bicycle exports surged to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil represented the main exporter of motorcycles and bicycles in Latin America and the Caribbean, with the volume of exports resulting at X units, which was approx. 52% of total exports in 2021. Chile (X units) took the second position in the ranking, followed by Panama (X units), Mexico (X units) and Colombia (X units). All these countries together held near 43% share of total exports. Guatemala (X units) took a little share of total exports.

Exports from Brazil decreased at an average annual rate of -2.0% from 2012 to 2021. Panama, Colombia and Mexico experienced a relatively flat trend pattern. Chile (-5.3%) and Guatemala (-13.2%) illustrated a downward trend over the same period. Panama (+2.7 p.p.), Colombia (+1.8 p.p.) and Brazil (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Guatemala and Chile saw its share reduced by -3.7% and -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Chile ($X) constituted the countries with the highest levels of exports in 2021, with a combined 85% share of total exports.

Among the main exporting countries, Mexico, with a CAGR of +41.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, picking up by 5.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2015 an increase of 12% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+41.7%), while the other leaders experienced more modest paces of growth.

Motorcycle And Bicycle Imports

Imports in Latin America and the Caribbean

In 2021, imports of motorcycles and bicycles in Latin America and the Caribbean surged to X units, jumping by 64% against the year before. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.4% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, motorcycle and bicycle imports soared to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Chile (X units), Mexico (X units) and Colombia (X units) represented the largest importer of motorcycles and bicycles in Latin America and the Caribbean, comprising 51% of total import. Peru (X units) held a 9.2% share (based on physical terms) of total imports, which put it in second place, followed by Ecuador (6.4%) and Argentina (5%). The Dominican Republic (X units), Uruguay (X units), Brazil (X units), Honduras (X units), Guatemala (X units), Paraguay (X units) and Costa Rica (X units) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +19.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest motorcycle and bicycle importing markets in Latin America and the Caribbean were Colombia ($X), Mexico ($X) and Chile ($X), with a combined 45% share of total imports. These countries were followed by Peru, Argentina, Guatemala, Ecuador, the Dominican Republic, Honduras, Paraguay, Costa Rica, Brazil and Uruguay, which together accounted for a further 46%.

Among the main importing countries, the Dominican Republic, with a CAGR of +13.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, rising by 8.3% against the previous year. Over the period under review, the import price, however, showed a slight reduction. The most prominent rate of growth was recorded in 2013 when the import price increased by 9.6%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Guatemala ($X per unit), while Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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