Latin America and the Caribbean: Market for Motorcycles and Cycles With an Auxiliary Motor 2025

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Latin America and the Caribbean

After two years of growth, the Latin American market for motorcycles and cycles with an auxiliary motor decreased by -0.1% to $X in 2021. Overall, consumption showed a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Motorcycles and Cycles With an Auxiliary Motor in Latin America and the Caribbean

In value terms, production of motorcycles and cycles with an auxiliary motor shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 43%. As a result, production attained the peak level of $X. From 2017 to 2021, production of growth remained at a lower figure.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports in Latin America and the Caribbean

In 2021, shipments abroad of motorcycles and cycles with an auxiliary motor increased by 15% to X units, rising for the third year in a row after three years of decline. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +59.2% against 2018 indices. The growth pace was the most rapid in 2014 when exports increased by 89%. Over the period under review, the exports of reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, exports of motorcycles and cycles with an auxiliary motor skyrocketed to $X in 2021. Over the period under review, exports recorded resilient growth. The pace of growth appeared the most rapid in 2014 when exports increased by 82%. Over the period under review, the exports of attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Panama dominates motor structure, reaching X units, which was approx. 75% of total exports in 2021. Ecuador (X units) took a 9.2% share (based on physical terms) of total exports, which put it in second place, followed by the Dominican Republic (5.9%). Mexico (X units) and Costa Rica (X units) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to motorcycles and cycles with an auxiliary motor exports from Panama stood at +13.2%. At the same time, Ecuador (+43.8%) and Costa Rica (+14.6%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +43.8% from 2012-2021. By contrast, the Dominican Republic (-7.1%) and Mexico (-14.2%) illustrated a downward trend over the same period. While the share of Panama (+36 p.p.) and Ecuador (+8.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Dominican Republic (-12.5 p.p.) and Mexico (-16 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Panama ($X) remains the largest motorcycles and cycles with an auxiliary motor supplier in Latin America and the Caribbean, comprising 94% of total exports. The second position in the ranking was taken by Mexico ($X), with a 2% share of total exports. It was followed by the Dominican Republic, with a 0.5% share.

In Panama, exports of motorcycles and cycles with an auxiliary motor expanded at an average annual rate of +17.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-12.0% per year) and the Dominican Republic (-25.4% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, picking up by 2.2% against the previous year. Export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 62%. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+4.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of motorcycles and cycles with an auxiliary motor increased by 55% to X units, rising for the fourth year in a row after three years of decline. Overall, imports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 56% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of motorcycles and cycles with an auxiliary motor soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of 71%. Over the period under review, imports of attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X units), distantly followed by the Dominican Republic (X units), Chile (X units), Mexico (X units) and Colombia (X units) were the major importers of motorcycles and cycles with an auxiliary motor, together generating 89% of total imports. Panama (X units) and Suriname (X units) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Chile (with a CAGR of +27.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest motorcycles and cycles with an auxiliary motor importing markets in Latin America and the Caribbean were Brazil ($X), the Dominican Republic ($X) and Chile ($X), with a combined 71% share of total imports. These countries were followed by Panama, Colombia, Suriname and Mexico, which together accounted for a further 20%.

Panama, with a CAGR of +27.4%, 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 2021, the import price in Latin America and the Caribbean amounted to $X per unit, shrinking by -13.5% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for motorcycles and cycles with an auxiliary motor decreased by -39.3% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 53%. Over the period under review, import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Suriname (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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