Market Overview

The Latin America shared mobility market size reached USD 37.10 Billion in 2024 and is forecasted to reach USD 105.14 Billion by 2033. It is expected to grow at a CAGR of 12.27% during the forecast period 2025-2033. Driving factors include rapid urbanization, rising fuel costs, government support for eco-friendly initiatives, integration of multimodal transport systems, and the growth of mobile applications for easy service access.

Study Assumption Years

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

Latin America Shared Mobility Market Key Takeaways

  • The market size stood at USD 37.10 Billion in 2024 and is projected to reach USD 105.14 Billion by 2033, growing at a CAGR of 12.27% during 2025-2033.
  • The rise of electric vehicles (EVs) and autonomous vehicles (AVs) is contributing to sustainable urban mobility.
  • Brazil had 51,000 BYD electric cars on the road in November 2024, representing 72% of imported vehicles.
  • Government incentives and subsidies support the switch to electric vehicles alongside infrastructure development for charging stations.
  • Increasing investments in transportation infrastructure are enhancing connectivity and encouraging the adoption of shared mobility.
  • The development of multimodal transport hubs facilitates seamless transitions between transportation modes, encouraging shared mobility use.

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Market Growth Factors

The Latin America shared mobility market is driven by the adoption of electric vehicles (EV) and autonomous vehicles (AV) as a sustainable urban mobility solution. EVs help reduce the use of petrol vehicles, thus reducing the impact of carbon emissions on the environment. As of November 2024, there were 51,000 BYD electric vehicles in circulation in Brazil, constituting 72% of the country's EV market. The Brazilian government provides several incentives to promote the purchase of EVs, investing in charging networks to promote shared mobility. By having AV technology, a vehicle can operate without a human driver, thereby increasing safety and decreasing costs, enabling a fleet manager to serve more people.

Investing in transport networks has been a key factor in driving shared mobility in Latin America, with emphasis on investing in roads, public transport systems and dedicated lanes. They opened Patrick J. Ottensmeyer International Rail Bridge in February 2025 and the bridge importantly supports trade and mobility between Mexico, the U.S. and Canada. With improved infrastructure, shared transport options become more convenient and available to urban dwellers. If infrastructure improves, that can also ease how electric vehicle charging infrastructure rolls out, increasing consumer confidence toward shared transport options.

Multimodal transport hubs are also an important driver for the shared mobility sector. They integrate the use of a bus, a train or ride-sharing services, as well as other mobility means into a single, smooth and convenient journey. This presents shared mobility as a thing that attractively substitutes for owning a car. Investing more in this transport infrastructure will attract new and existing startups and companies to the region. This investment will create competition, innovation, and economic development.

Market Segmentation

Service Model:

  • Ride Hailing: Covers services where users hail rides via apps or platforms.
  • Bike Sharing: Includes shared bicycles available for short-term use.
  • Ride Sharing: Involves multiple passengers sharing a single vehicle trip.
  • Car Sharing: Entails shared access to vehicles for users on demand.
  • Others: Other service models in shared mobility.

Channel:

  • Online: Platforms and services accessible via digital applications.
  • Offline: Traditional modes of availing shared mobility services outside digital channels.

Vehicle Type:

  • Car: Shared use of cars for transportation.
  • Two-wheelers: Shared motorcycles, scooters, or bikes.
  • Others: Other types of vehicles used in shared mobility.

Country:

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

Regional Insights

Brazil is highlighted as a key market within Latin America, exemplified by the presence of 51,000 BYD electric vehicles representing 72% of all imported vehicles as of November 2024. The Latin America shared mobility market is characterized by rapid urbanization and government-led infrastructure development that enhance connectivity and service adoption.

Recent Developments & News

In July 31, 2024, Uber announced plans to integrate 100,000 electric BYD cars into its ride-hailing services with an operational expansion focus in Europe and Latin America. This initiative promotes sustainable transportation through BYD's electric vehicles. Uber and BYD will also collaborate on developing "autonomous-capable vehicles," marking continued innovation in mobility solutions for the region.

Key Players

  • Uber
  • BYD

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