Colombia Bicycle Market Size, Share, Report, Analysis: By Technology: Conventional, Electric; By Type: Mountain Bicycles, Road Bicycle, Hybrid Bicycle, Others; By Price Category: Low-Range, Mid-Range, Premium; By End Use: Men, Women, Kids; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Colombia Bicycle Market Outlook

The Colombia bicycle market size reached approximately USD 195.33 million in 2023. The market is projected to grow at a CAGR of 6.8% between 2024 and 2032, reaching a value of around USD 363.09 million by 2032.

Key Takeaways

• The Colombian government’s aim to achieve carbon neutrality by 2050 aids the adoption of bicycles.

• In 2022, Bogota's estimated cycling rates were around 8% or about 900,000 trips per day.

• In 2023, around 23.9% of Colombians aged above 18 years suffered from obesity, providing an opportunity for the market.

• The Bogota government aims to expand the cycling network from around 590 km to 830 km by 2024.

• Ciclovia is a weekly biking event in Bogota, Colombia. During the event, the city’s robust cycling infrastructure is filled with around 2 million people and roads are closed to vehicular traffic.

Cycling is popular as a convenient mode of transport in Colombia. Traffic congestion on roads combined with the benefits of cycling on one’s health drive the demand for cycling. The expansion of the cycling network along with the health and environmental benefits of cycling, aids the Colombia bicycle market development.

The bicycle market in Colombia is expected to grow due to factors such as rising obesity, a demand for eco-friendly transportation, government initiatives to reduce emissions, and the expansion of cycling networks.

Key Trends and Developments

Rising demand for sustainable transportation, government investments, and the rising popularity of electric bicycles are increasing the Colombia bicycle market growth.

Figure: Bicycle Initiatives in Bogota City, Colombia

• Bogotá has established one of the largest networks of bicycle lanes in the world. The cycling network includes, 162 kilometres in the roadway, 299 kilometres integrated within sidewalks, 124 kilometres as shared low-speed areas, and 5 km of cycle bridges and tunnels.
  • Through a robust cycling network, bicycle ridership has increased steadily in Bogota. The Bogota bike sharing programme will cover Usaquén, Chapinero, Barrios Unidos, Santa Fe, and La Candelaria, a total of 27 km area and satisfy the public transportation needs of Bogotá's 11 million residents.
  • In February of 2021, Bogota adopted Acuerdo 804, or Agreement 804. The Agreement made biking a priority as a means of transport in the city and authorised the city to redistribute road space to create temporary emergency lanes for bicycles. 
  • Bogota has installed supportive cycling infrastructure, such as bike parking and wayfinding to assist cyclists. Bogota also uses Quality Seals, a unique bike parking recognition programme, to incentivise private sector bike parking. Through these efforts, 50,293 parking places have been guaranteed in the current bicycle network, including 24,650 with quality seals.
  • In September 2022, the first bikeshare system for the country was launched.

Colombia Bicycle Market Trends

The bicycle market in Colombia is expanding owing to the rising need for mobility among Colombians. The Colombian government’s goal to achieve carbon neutrality by 2050, and the growing popularity of electric bicycles, further aid the market growth. E-bikes benefit people of different age groups, from kids to older adults. These bikes allow the aged population to cycle effortlessly, lowering the risk of inflammation in joints and ensuring their health and well-being.

Colombia offers beginners and regular cyclists impressive biking opportunities on its permanent cycle lanes as well as steep mountain paved roads. Tour operators regularly conduct mountain bike trips in various areas, such as San Gil, Minca and Medellín, aiding the market growth. The expansion of the Colombian cycling network is encouraging consumers to adopt cycling to travel to work or run errands, thereby boosting the Colombia bicycle market share.

Market Segmentation

Colombia Bicycle Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

By technology, conventional bikes hold a significant Colombia bicycle market share due to their cost-effectiveness

Conventional bicycles cost significantly less than e-bikes, making them an ideal investment for low-income Colombians. Initiatives such as Bogota’s bike sharing programme introduced in September 2022 aids the demand for electric and regular bicycles.  The system deploys a fleet of 3,300 bicycles including regular and electric bikes.

The popularity of electric bicycles is rising as it helps consumers ride faster than traditional bicycles. Prominent electric bicycle brands in Colombia include Momentum Bikes and PBSC® Urban Solutions.

Mountain bicycles hold a significant share of the Colombia market due to the presence of mountain biking adventure parks and tours

Colombians regularly take part in mountain cycling in Salento and the mountainous regions north of Bogota. The presence of mountain biking tours in Colombia, such as Cross Country MTB tours in Salento and Manizales, aids the demand for mountain bicycles.

According to the Colombia bicycle market analysis, a robust cycling network aids road bicycle demand in the country. Bogota is renowned globally for its cycling infrastructure. The city’s cycling network includes over 593 kilometres of permanent cycle paths.

Hybrid cycles combine the benefits of road and mountain bikes. These bicycles are designed for everyday use as well as for various terrains, from paved roads to light off-road trails. This provide consumers with the benefits of versatility and performance.

Competitive Landscape

Major Colombia bicycle market players are introducing innovative bicycle models in the market, which is expected to drive the market forward.

Other key players in the Colombia bicycle market include Scott Sports SA, Marin Mountain Bikes Inc, Accell Group N.V., and GW Bicycles, among others.

Colombia Bicycle Market Analysis

Cycling is the second-most popular sport in Colombia. Several annual cycling events, including La Leyenda and the Transcordilleras Rally, as well as weekly events, like Ciclovía in Bogota, encourage consumers to adopt cycling. The presence of such events aids the market for bicycles in the country. Further, 30% of Colombia’s emissions are produced from the energy sector, including transportation. As a result, the Colombian government’s aim to achieve carbon neutrality by 2050 aids the adoption of bicycles, thus propelling the Colombia bicycle market growth. Colombian cities, such as Bogota are investing to strengthen their public bike-sharing systems and cycling infrastructure to provide riders safe and fast journeys.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.