The Latin America shared mobility market was valued 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 the forecast period of 2025-2033. The market growth is driven by urbanization, rising fuel prices, sustainability emphasis, government incentives, and innovations like EVs, AVs, and mobile app integration. 

Study Assumption Years

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

Latin America Shared Mobility Market Key Takeaways

  • The market size was USD 37.10 Billion in 2024, with a CAGR of 12.27% forecasted for 2025-2033.
  • The market is propelled by factors such as rapid urbanization and rising fuel costs.
  • Government incentives support the adoption of electric vehicles and sustainable transport solutions.
  • Increasing urban congestion is driving demand for flexible shared mobility options.
  • Growth in multimodal transport system integration is enhancing service accessibility.
  • Mobile applications facilitate easier access and usage of shared mobility services.

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Market Growth Factors

The Latin America shared mobility market is experiencing significant growth driven by the rise of electric vehicles (EVs) and autonomous vehicles (AVs). In November 2024, Brazil had 51,000 BYD cars on the road, comprising 72% of imported vehicles. The $1 billion Camaçari plant is expected to produce 150,000 cars in 2025. Governments are promoting EV adoption with incentive programs, subsidies, and the development of charging infrastructure primarily targeting shared mobility services. The integration of AV technology improves safety and reduces operational costs, enabling transport providers to manage fleets more efficiently.

Investment in transportation infrastructure is a critical growth factor. Governments and private companies are upgrading road networks, public transport infrastructure, and creating dedicated lanes for shared mobility services to improve connectivity. The Patrick J. Ottensmeyer International Rail Bridge, operational since February 2025, enhances trade among Mexico, the U.S., and Canada with a $100 million investment. This infrastructure development supports consumer adoption of shared mobility by providing accessible, practical transport solutions and boosts economic growth by attracting competition and innovation within the sector.

The development of multimodal transport hubs integrates buses, trains, and ride-sharing services to enable seamless commuter transitions, encouraging shared mobility use. Enhanced infrastructure also supports establishing electric vehicle charging stations, further building consumer confidence. These factors collectively stimulate the market's expansion by responding to urbanization challenges, sustainability objectives, and consumer preferences for flexible, affordable transportation options.

Market Segmentation

  • Service Model Insights: The market is segmented into ride hailing, bike sharing, ride sharing, car sharing, and others, showcasing diverse shared mobility service options tailored to user needs.
  • Channel Insights: Online and offline channels are explored, highlighting different consumer access points to shared mobility services across Latin America.
  • Vehicle Type Insights: The market includes cars, two-wheelers, and other vehicle types, reflecting the various transportation modalities available within shared mobility.
  • Country Insights: Major countries analyzed include Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others, representing key markets within the Latin America region.

Regional Insights

Brazil is a dominant market within Latin America’s shared mobility landscape, exemplified by the presence of 51,000 BYD electric vehicles on its roads as of 2024, forming 72% of imported vehicles. The region is supported by significant infrastructure investments and government incentives fostering shared mobility adoption. This robust market growth aligns with the overall Latin America market’s forecast CAGR of 12.27% during 2025-2033, indicating strong regional leadership.

Recent Developments & News

On July 31, 2024, Uber announced plans to incorporate 100,000 electric BYD cars into its ride-hailing services, focusing on expansion in Europe and Latin America. This initiative aims to promote sustainable transportation options. Further collaboration between Uber and BYD will focus on developing "autonomous-capable vehicles," advancing Uber's commitment to innovative mobility solutions.

Competitive Landscape

The market research report has also provided a comprehensive analysis of the competitive landscape, including market structure, key player positioning, and winning strategies. Detailed profiles of major companies operating in the shared mobility market have been included.

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