Bike Sharing Market Size, Share & Industry Analysis, By Bike Type (Traditional/Conventional., E-bikes), By Sharing System (Docked, Dock-less) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Bike sharing is a cost-effective and convenient mode of transportation that is mainly used for short-distance trips. Bike sharing is comparatively a cleaner mode of transport, and hence, it is environmentally friendly. These kinds of facilities are primarily used for rental services and recreational activities. Several types of bike-sharing models include hybrid bike-sharing, free-floating bike-sharing, cargo bike-sharing, and dock-based bike-sharing.
The increased partnership between the bike sharing companies and mobility as a service providers with the increased adoption of electric bikes are expected to drive the market growth. Also, improved comfort and higher speed over short distances are expected to boost the growth of the market. However, the rise in bike vandalism, theft, and high initial investment cost are some of the major factors hampering the growth of the market
Key Market Driver -
The increased partnership between the bike sharing companies and mobility as a service providers with the increased adoption of electric bikes are expected to drive the market growth.
Key Market Restraint -
The rise in bike vandalism, theft and high initial investment cost are some of the major factors hampering the growth of the market.
Market Segmentation:
The global bike sharing market is segmented by bike type, sharing system, and geography. Based on bike type, the market is further sub-segmented into traditional/conventional and e-bikes. The e-bikes segment is expected to account for the largest market share by the end of the forecast period. They are eco-friendly, more reliable, and cost-effective over the long term. Also, these bikes are also popular for several recreational purposes, and they can also be used in rough terrains. These factors are attributed to the growth of the e-bike segment. Based on sharing system, the market is segmented into docked and dock-less. The dock-less segment accounted for the largest market share in 2020. major market players are opting for the dock-less bike sharing concept, owing to the lesser overall expenditure than a docked sharing system and low capital required to set up the dock-less system. Additionally, several convenient features such as higher parking flexibility and cost-efficiency are expected to boost the adoption of dock-less systems during the forecast period.
Key Players:
Major players operating in the global bike sharing market include Bird Rides, Inc., Anywheel Pvt. Ltd., Beijing Xiaoju Technology Co, Ltd., JCDecaux, Bond Mobility AG, BIXI Montreal, Lyft, Inc., Lime, SG Bike Pte Ltd., Uber Technologies Inc. Tembici, Spin, Youon Technology Co., Ltd., and Mobike among others.
Key Insights
- New Advancements in Bike Sharing market.
- Number of Products, Key Countries, 2020
- New Product Launches, Key Players
Regional Analysis:
Geographically, the bike sharing market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific held the largest share of the market in 2020. Factors such as increasing population and greater demand for electric bikes in developing countries are some of the major factors driving the growth of the market. North America is expected to show significant growth in the market. The rapid increase of the bike fleets with significant investments by major cities such as New York, San Francisco, and Chicago and rapid adoption of recreational activities using electric bikes are expected to drive the market growth in the region. Europe is also expected to exhibit rapid growth during the forecast period. Factors such as enhanced roadways infrastructure and stringent emission regulations are responsible for the increasing adoption of the bike sharing model.
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Segmentation
ATTRIBUTES | DETAILS |
By Bike Type |
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By Sharing System |
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By Geography |
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- Ongoing
- 2023
- 2019-2022
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