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Automotive Bike Taxi Market Size, Share, Industry, and COVID-19 Impact Analysis, By Vehicle Type (Motorcycle and Scooter), By Propulsion Type (IC Engine and Electric), By Availability (Taxi Stand and From Online App), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106976 | Status : Ongoing

 

KEY MARKET INSIGHTS

Taxi is a vehicle leasing service comprising both the vehicle and the driver's assistance. A bike taxi is a motorized taxi with one passenger riding behind the driver. These taxis are commercial vehicles that transport customers for a fee. These vehicles require a valid contract/permit for use as a contract carrier. They are open to the general public and frequently lack regular routes, schedules, and stations. A passenger can book or hail a bike taxi ride using a smartphone application or a website connected to the internet. Passengers can book or hire a bike taxi for a specific route that the passenger specifies.


As urban areas and personal vehicle use grow across the country, it's prudent to contemplate different motorized modes of transport to ease congestion, similar to intermediate public transport. Paratransit may be a transportation service, such as taxis, auto rickshaws, and bike taxis, that supplements mass transit systems by providing personal rides without any fixed routes or timetables. Urban activities are typically spatially dispersed, and accessing these through mass public transit is time-consuming. Paratransit choices cater to figure and leisure trips or occasional and emergency trips. Paratransit options can create transportation cheaper and more accessible for all. They are often available in ride-sharing forms and via mobile-based ride-hailing apps, enhancing their accessibility. Among the various paratransit modes available alternatives in India, bike taxis—motorbikes that operate as taxis—are getting popular.


  • In 1981, Goa became the primary state to allow bikes to work as business vehicles and notified 64 motorbike taxi stands across the state. In 2016, Mizoram became the second state in Asia to permit bike taxis to operate, stipulating that solely bikes that were under two years and had a speed capability of 125cc or more would-be eligible for permits.

  • In July 2021, Karnataka allowed electric bike taxis to operate within the state to provide cheap first and last-mile connectivity, promote urban mobility, and aid commuters in accessing public transport. The government projected that larger versatile entrepreneurship opportunities would be generated. These factors led to the birth of the Karnataka electrical Bike Taxi Scheme 2021.


Impact of COVID-19 on the Global Automotive Bike Taxi Market


COVID-19 has posed an enormous economic, humanitarian, and healthcare challenge to the world. Lockdown measures have slowed down the spread of coronavirus, but they have come at a high cost in terms of money. The automobile and transportation industries have been particularly hard on the business front. Healthcare and government agencies adopted social distancing norms and rules to urge citizens to keep a safe distance from others. This has limited ride-hailing services, such as cabs and bike taxis, for regular commuters worldwide. Due to safety concerns, users prefer to commute in their vehicles, which has impacted the bike taxi industry. However, the bike taxi industry is expected to grow rapidly shortly due to rising immunization rates and a gradual rise in ride-hailing and on-demand transportation services.

Key Insights


The report will cover the following key insights:


  • Key Industry Developments – Mergers, Acquisitions, and Partnerships

  • Porter’s Five Forces Analysis

  • PEST Analysis

  • Technological Developments

  • Impact of COVID-19 on the Global Automotive Bike Taxi Market


Analysis by Availability


This market is segmented into taxi stand and from online app based on availability. The rising use of online cab booking platforms, owing to their convenience to clients, is one of the key drivers driving the automotive bike taxi market growth. They also provide convenient online payment alternatives and the option of picking up and dropping off at different places.

Due to increasing proliferation of the internet and smartphones worldwide, the simplicity of booking through the app has substantially enticed people to favor online booking over offline booking. Furthermore, the app's availability of information, such as driver location monitoring, pre-estimated ride fares, driver contact information, and vehicle details, has enhanced customer preference for online booking.

Many prominent operators, such as Grab, Uber, and Ola, provide ride-sharing alternatives (which allow co-passengers to split the charge) in some regions, harnessing the growing demand for low-cost taxi services. To keep up with the trend of ride-sharing services, operators are using the same method and adding the ride-sharing option to their app development.

Regional Analysis


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The Asia Pacific region has dominated the taxi sector, accounting for over half of the market. Increasing traffic congestion and low taxi costs compared to other modes of transportation are two significant factors driving the market growth of motorcycle/bike ride-hailing services in Asia Pacific. As the region is home to 60% of the world's population, the region's ride-hailing sector is large and growing quickly.

The taxi sector is quickly growing throughout Asia Pacific. DiDi Chuxing, Ola, and Onda are among the companies with high smartphone adoption rate. By leveraging cutting-edge technology and innovation, they are acquiring market share. While expanding abroad, the biggest South Asian cab service firms are strengthening rivalry in regional markets. A Chinese taxi company, DiDi Chuxing, has begun operations in Mexico, Australia, Costa Rica, Japan, and several other countries.

As the world's most populous country, China boasts the world's largest taxi market. Due to their flexibility, convenience, higher availability, and end-mile connection, taxis gradually became an essential service. After China, India has a sizable taxi market share. There was a lot of interest in taxi pooling and sharing in the country. In India, bike taxi is also gaining popularity.

India is the world's second-most populated country. Most of its citizens are middle-class, relying on two-wheelers and auto-rickshaws (local three-wheeler taxis) to commute short distances. Bike taxis are popular among millennials as they are less expensive than cabs and can navigate congested roadways. For the same distance, a bike taxi ride costs INR 60-70 and a cab ride costs INR 150-200. The Indian government established new guidelines for cab aggregators, such as Ola and Uber, in November 2020, bringing them within a regulatory framework. The new rules enforced a spike in pricing restriction, prohibiting ride-hailing operators from charging more than 1.5 times the base cost, according to the Motor Vehicle Aggregator Guidelines 2020. Companies can also offer pooling services on private vehicles under the new laws, but only for four intra-city rides and two inter-city rides per week.

The online cab business is evolving with the arrival of bike taxis into the market, which are significantly more economical than cabs and enable easier maneuvering in traffic congestion, especially in tier-one and metro cities. Consequently, the global autonomous bike taxi market share is expected to grow rapidly during the forecast period.


  • For instance, in September 2019, Ola announced the launch of its Ola Bike service in 150 cities across India. Bike taxis have the most potential in India's smaller villages and towns, where people get their first taste of on-demand transportation.

  • Rapido, which predates Ola in the two-wheeler rental market, is the market leader. It was launched in 2015 and is now available in over 100 cities across India. Rapido has surpassed 10 million downloads and claims to be adding new users every day. On the other hand, Rapido is facing stiff competition from new rental players such as Vogo and Bounce.


Key Players Covered



  • ANI Technologies Pvt. Ltd (OLA) (India)

  • Uber Technologies Inc. (U.S.)

  • GOJEK Ltd (Indonesia)

  • Rapido(India)

  • Safe Boda (Uganda)

  • Patheo (Bangladesh)

  • Padelme (UK)

  • Madhatters Voyage Pvt. Ltd.(India)

  • GrabTaxi Holdings Pte. Ltd (Singapore)

  • Picap (South America)


Segmentation


















By Vehicle Type


By Propulsion Type


By Availability


By Geography



  • Motorcycle

  • Scooter




  • IC Engine

  • Electric




  • Taxi Stand

  • From Online App




  • North America (U.S., Canada, Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)



  • Asia Pacific (China, Japan, India, South Korea, and Rest of APAC)

  • Rest of the World



Key Industry Developments



  • In April 2022, Rapido & TVS Motors signed an MoU to develop Hyperlogical Mobility. It consists of launching electric two & three-wheelers from 5KW-25KW by 2023.

  • In April 2022, Swiggy made a USD 180 million investment in bike taxi aggregator Rapido company as the largest single check into a startup.





  • Ongoing
  • 2023
  • 2019-2022

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