Press Releases

Market Overview

The Latin America shared mobility market size reached USD 41.7 Billion in 2025, is valued at USD 47.7 Billion in 2026, and is projected to reach USD 112.4 Billion by 2034, growing at a compound annual growth rate (CAGR) of 11.31% from 2026 to 2034. The market is driven by urbanization, rising fuel costs, congestion, mobile apps, and electric and autonomous vehicle adoption.

Latin America Shared Mobility Market Summary

• The Latin America shared mobility market covers ride hailing, bike sharing, ride sharing, car sharing, and other services, booked online or offline, using cars, two-wheelers, and other vehicles, across Brazil, Mexico, Argentina, Colombia, Chile, Peru, and other countries.
• Shared mobility is valued as a flexible, lower-cost alternative to car ownership in congested cities.
• The ecosystem includes ride-hailing and sharing platforms, vehicle makers, fleet operators, drivers and riders, city and national governments, and technology and payment providers.
• IMARC cites rapid urbanization, rising fuel costs, sustainability goals, urban congestion, and demand for multimodal transport integration.
• IMARC notes Brazil had about 51,000 BYD cars on the road in November 2024, 72% of imported vehicles.

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Porter’s Five Forces Analysis

• Competitive Rivalry: High. Global and regional platforms compete on price, wait times, and incentives for drivers and riders. Business implication: Differentiate through reliability, safety, and local partnerships.
• Supplier Power (Vehicles and Drivers): Moderate to High. Vehicle makers, fleet owners, and drivers influence supply and costs. Business implication: Secure fleet partnerships and manage driver incentives.
• Buyer Power (Riders): High. Users compare apps and switch easily. Business implication: Use loyalty programs and transparent pricing.
• Threat of Substitutes: Moderate. Public transport, taxis, and private vehicles compete, depending on the city. Business implication: Integrate with public transport and offer multimodal options.
• Threat of New Entrants: Moderate. Apps are easy to launch, but scale, regulation, and driver supply are barriers. Business implication: Focus on niche cities and services.

Market Growth Drivers

Urbanization and Congestion

Rapid urbanization, urban congestion, and rising fuel costs push people toward shared options instead of owning cars, according to IMARC. Growth of mobile apps makes services easy to book and pay for, and demand for flexible, multimodal transport is rising, which supports ride hailing, bike sharing, and car sharing in large cities.

Electric and Autonomous Vehicles

IMARC cites Brazil’s roughly 51,000 BYD cars on the road in November 2024, 72% of imported vehicles, and a USD 1 billion BYD plant in Camaçari slated to build 150,000 cars in 2025. In July 2024, Uber announced plans to add 100,000 electric BYD cars, focusing on Europe and Latin America.

Government Support and Infrastructure

IMARC points to government support for eco-friendly initiatives, which encourages shared and electric transport. Infrastructure investment also helps, such as the USD 100 million Patrick J. Ottensmeyer International Rail Bridge, which became operational in February 2025. Better transport links support trade and city mobility, and strengthen the case for integrated, shared transport networks.

Latin America Shared Mobility Market Segmentation

Service Model Insights:

• Ride Hailing
• Bike Sharing
• Ride Sharing
• Car Sharing
• Others

Channel Insights:

• Online
• Offline

Vehicle Type Insights:

• Car
• Two-Wheelers
• Others

Country Insights:

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

Competitive Landscape

The Latin America shared mobility market includes global ride-hailing platforms, regional operators, and bike and car sharing providers, with vehicle makers playing a growing role. IMARC says company profiles are in the full report and names only two companies. Competition centers on price, coverage, safety, and electric fleet adoption.

Key Organizations Mentioned in the Report Context Include:

• Uber
• BYD

Regional Analysis

• Brazil: The largest market, with large cities, strong app adoption, and growing electric vehicle presence, according to IMARC’s BYD data.
• Mexico: A major market, with Mexico City’s congestion supporting ride hailing and shared options.
• Argentina: Growing demand in Buenos Aires and other cities.
• Colombia, Chile, and Peru: Urban-led markets, with ride hailing and bike sharing in major cities.
• Others: Smaller markets, developing digital and transport infrastructure. IMARC gives no country values or narrative.

Recent Industry Developments

October 2026: Guadalajara Expands Public Bike-Sharing with 1,000 Electric Bicycles

On 5 October, Guadalajara, Mexico, advanced its shared mobility network through the introduction of 1,000 electric bicycles in the Mi Bici public bike-sharing system, in partnership with BKT Bici Pública and Lyft Urban Solutions. The expansion includes 100 new electrified stations and the relocation of 85 existing stations. During September, the system recorded a daily record of 21,568 trips, with electric bicycles accounting for approximately 50% of all journeys despite representing only 27% of the active fleet. The initiative highlights growing demand for electric micromobility and technology-enabled public transport in Mexican cities.

September 2026: Whoosh Expands Electric Scooter-Sharing Services in Brazil

On 21 September, electric scooter-sharing operator Whoosh launched services in Curitiba and Campos do Jordão, expanding its Brazilian operations to seven locations. The company initially planned to deploy up to 1,500 electric scooters across the two new markets. Whoosh has operated in Latin America since 2023 and has a presence in Brazil, Chile, Colombia and Mexico. The expansion demonstrates the growing importance of shared electric scooters for short-distance urban travel and tourism, while creating opportunities for fleet operators, charging infrastructure providers and mobility technology companies.

September 2026: Tembici Accelerates Electric Bicycle-Sharing Expansion in Brazil

Brazilian shared mobility operator Tembici outlined plans to significantly expand its electric bicycle operations, particularly for app-based delivery workers. The company received approval for R$340 million in financing from Brazil's National Bank for Economic and Social Development (BNDES) to acquire up to 85,000 electric bicycles. According to a September report, Brazil's new electric bicycle sales increased from 7,200 units in 2017 to 53,600 in 2024, demonstrating the expansion of the country's electric cycling market. Tembici's investment highlights opportunities in shared electric mobility, delivery-focused bicycle rentals and subscription-based transport services.

Key Aspects Required for the Latin America Shared Mobility Market

• Market Performance: USD 41.7 Billion in 2025 and USD 47.7 Billion in 2026, with a projected trajectory to USD 112.4 Billion by 2034.
• Market Outlook: An 11.31% CAGR through 2034 indicates very strong growth.
• Growth Drivers: Urbanization and congestion; electric and autonomous vehicles; and government support and infrastructure.
• Competitive Landscape: Global platforms and regional operators competing on price, coverage, and safety.
• Value Chain Analysis: From vehicle makers and fleet owners, through platforms and drivers, to riders.
• Industry Trends: Electric ride-hailing fleets; autonomous vehicle plans; multimodal transport; and app-based services.
• Strategic Recommendations: Electrify fleets; integrate with public transport; strengthen safety; and tailor services to each country.

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