Latin America and the Caribbean: Market for Cycles with Auxiliary Motors and Side Cars 2024

Market Size for Cycles with Auxiliary Motors and Side Cars in Latin America and the Caribbean

In 2021, after seven years of growth, there was significant decline in the Latin American market for cycles with auxiliary motors and side cars, when its value decreased by -7.3% to $X. In general, consumption posted a significant expansion. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Production of Cycles with Auxiliary Motors and Side Cars in Latin America and the Caribbean

In value terms, production of cycles with auxiliary motors and side cars fell remarkably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a significant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 108% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020, and then contracted remarkably in the following year.

Exports of Cycles with Auxiliary Motors and Side Cars

Exports in Latin America and the Caribbean

In 2021, after four years of growth, there was significant decline in overseas shipments of cycles with auxiliary motors and side cars, when their volume decreased by -24.3% to X units. Over the period under review, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2019 when exports increased by 230%. Over the period under review, the exports of hit record highs at X units in 2020, and then dropped sharply in the following year.

In value terms, exports of cycles with auxiliary motors and side cars shrank markedly to $X in 2021. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 283%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Chile (X units) represented the main exporter of cycles with auxiliary motors and side cars, comprising 37% of total exports. Brazil (X units) ranks second in terms of the total exports with a 20% share, followed by Panama (14%), Mexico (13%), the Dominican Republic (7.3%) and Colombia (5.4%). Peru (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +64.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Panama ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 76% of total exports. Brazil, Colombia, the Dominican Republic and Peru lagged somewhat behind, together comprising a further 21%.

In terms of the main exporting countries, Brazil, with a CAGR of +69.8%, saw 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, shrinking by -14% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 72% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood 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 ($X per unit), while Peru ($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 (+9.7%), while the other leaders experienced more modest paces of growth.

Imports of Cycles with Auxiliary Motors and Side Cars

Imports in Latin America and the Caribbean

In 2021, the amount of cycles with auxiliary motors and side cars imported in Latin America and the Caribbean amounted to X units, picking up by 14% compared with the previous year's figure. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2019 with an increase of 160%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of cycles with auxiliary motors and side cars skyrocketed to $X in 2021. Overall, imports saw a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 105%. Over the period under review, imports of attained the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Chile represented the largest importing country with an import of around X units, which reached 37% of total imports. Brazil (X units) ranks second in terms of the total imports with a 13% share, followed by Mexico (11%), Argentina (8.9%), Colombia (5.9%), Peru (5.8%) and Uruguay (5.4%).

Chile was also the fastest-growing in terms of the cycles with auxiliary motors and side cars imports, with a CAGR of +53.6% from 2012 to 2021. At the same time, Argentina (+52.6%), Uruguay (+42.5%), Mexico (+34.8%), Peru (+34.4%), Colombia (+26.1%) and Brazil (+13.8%) displayed positive paces of growth. From 2012 to 2021, the share of Chile, Argentina, Uruguay and Mexico increased by +28, +6.7, +2.9 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported cycles with auxiliary motors and side cars in Latin America and the Caribbean, comprising 22% of total imports. The second position in the ranking was taken by Brazil ($X), with an 11% share of total imports. It was followed by Argentina, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile totaled +39.1%. In the other countries, the average annual rates were as follows: Brazil (+12.9% per year) and Argentina (+53.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, rising by 3.3% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The pace of growth was the most pronounced in 2017 when the import price increased by 53%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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