Market Overview

The Latin America shared mobility market reached USD 37.10 Billion in 2024 and is projected to expand to USD 105.14 Billion by 2033, reflecting a compound annual growth rate (CAGR) of 12.27% during the forecast period of 2025–2033. The market expansion is fueled by rapid urbanization, increasing fuel prices, sustainability emphasis, and government support for eco-friendly transport. Innovations such as electric and autonomous vehicles alongside investments in transportation infrastructure further support this robust growth. 

Study Assumption Years

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033

Latin America Shared Mobility Market Key Takeaways

• The Latin America shared mobility market size was USD 37.10 Billion in 2024.
• The market is forecast to reach USD 105.14 Billion by 2033.
• The market is expected to grow at a CAGR of 12.27% between 2025 and 2033.
• Growth drivers include rapid urbanization and rising fuel costs increasing demand for flexible and sustainable transport solutions.
• Government initiatives promoting EV adoption and infrastructure development are strengthening the market.
• Multimodal transport integration and mobile applications are fostering ease of access and consumer adoption.
• Partnerships among automakers, tech firms, and shared mobility companies accelerate the adoption of electric and autonomous vehicles.

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Market Growth Factors

Latin America has a growing shared mobility market․ Urbanization and rising fuel prices lead to increased demand for shared mobility services․ Many Latin Americans live in urban zones, and shared mobility is an alternative to owning a car․ Shared mobility promotes sustainable urban growth, and reduces dependence on solo car travel within urban areas․

The expansion of EVs and AVs is one of the major ways that green urban transportation can be achieved․ In Brazil, 51,000 BYD cars were in use in Brazil as of November 2024, 72% of all imported cars․ A new $1 billion production plant in Camaçari seeks to produce 150,000 cars in 2025, supported by government aid, subsidies, and infrastructure such as charging stations for EV-based shared mobility․

Another transport infrastructure example that contributed to the development of the market is the Patrick J․ Ottensmeyer International Rail Bridge, opened in 2025 at a cost of $100 million, improving North American connectivity․ The infrastructure improvements comprise road transport, public transport, dedicated lanes and multimodal transport hubs, which provide smooth transfer, encourage uptake and induce economic growth and innovation․

Market Segmentation

Service Model:

• Ride Hailing: A significant segment involving on-demand transportation services via mobile platforms.
• Bike Sharing: Encompasses shared bicycles facilitating short-distance urban travel.
• Ride Sharing: Includes carpooling and shared ride services enhancing commute efficiency.
• Car Sharing: Allows users to rent cars for short periods, providing flexibility and cost savings.
• Others: Additional shared mobility services supplementing the primary categories.

Channel:

• Online: Shared mobility services accessed primarily through internet-based platforms and mobile applications.
• Offline: Traditional access points excluding online interfaces.

Vehicle Type:

• Car: The predominant vehicle type used in shared mobility services.
• Two-wheelers: Includes motorcycles and scooters used for shared transport.
• Others: Other vehicle types employed in shared mobility.

Country:

• Brazil: A major market featuring substantial adoption and manufacturing capacity.
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

Regional Insights

Brazil is the dominant market in Latin America for shared mobility, supported by robust electric vehicle adoption and manufacturing investments such as the Camaçari plant. The market's strong regional growth is exemplified by consumer usage of 51,000 BYD electric vehicles, representing a significant majority of imports, alongside governmental infrastructure enhancements driving demand.

Recent Developments & News

On July 31, 2024, Uber announced plans to deploy 100,000 electric BYD cars in its ride-hailing services across Europe and Latin America. This initiative highlights Uber's commitment to sustainable transport through integration of electric vehicles. Additionally, Uber and BYD are collaborating to develop "autonomous-capable vehicles," signaling advancement towards innovative, autonomous shared mobility solutions.

Key Players

• Uber
• BYD

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