The factors such as rise in venture capital investments and Increase in Inclusion of e-bikes in the sharing fleet are anticipated to drive market growth. However, high initial investment cost and rise in bike vandalism & theft are expected to hinder market growth. Further, technological advancements in bike sharing system and Increase in government initiatives for the development of bike-sharing infrastructure are some of the factors expected to offer lucrative opportunities for the market growth during the forecast period.
The bike sharing market is segmented on the basis of bike type, sharing system, and region. On the basis of bike type, it is bifurcated into traditional/convectional and e-bike. On the basis of sharing system, it is bifurcated into docked and dock-less. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The key players operating in the bike sharing market are Anywheel Pte. Ltd, Bird Rides, Inc, BIXI, Bond Mobility (Europe) AG, Lime, Lyft, Inc., Mobike, Nextbike GmbH, Spin, and Uber Technologies Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bike sharing market analysis from 2022 to 2032 to identify the prevailing bike sharing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bike sharing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global bike sharing market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Sharing System
- Docked
- Dock-less
By Bike Type
- Traditional/Convectional Bikes
- E-Bikes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Anywheel Pte. Ltd.
- Bird Rides, Inc.
- BIXI
- BOND MOBILITY (EUROPE) AG
- Lime
- Lyft, Inc.
- MOBIKE
- SPIN
- TIER Mobility SE
- Uber Technologies Inc.
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Table of Contents
Executive Summary
The Global Bike sharing Market is expected to experience a significant growth rate of 11% from 2023-2032 owing to rise in venture capital investments and increase in inclusion of e-bikes in the sharing fleet.The bike sharing market refers to the industry that provides bicycles for shared use to individuals on a short-term basis. It involves the operation of bike sharing systems, which typically consist of a fleet of bicycles stationed at various docking stations throughout a city or urban area. Users can rent a bike from one docking station and return it to another station, allowing for convenient and flexible transportation. Bike sharing systems are usually facilitated through mobile applications or membership cards, enabling users to locate and unlock bikes, track their usage, and make payments. The bike sharing market can have different operational models, such as station-based systems with fixed docking stations or free-floating systems where bikes can be picked up and dropped off anywhere within a defined service area. The availability of electric bicycles (e-bikes) has also gained traction, offering assisted pedaling and extending the range of bike sharing systems. The bike sharing market is expected to experience significant growth due to factors such as increasing urbanization, the demand for sustainable transportation options, and the popularity of shared mobility services.
Key players in the bike sharing market include service providers or operators, municipalities or local governments, bike manufacturers, technology providers, and users. Service providers are responsible for deploying and maintaining the bike sharing systems, while local governments may support the infrastructure development and regulatory framework. Bike manufacturers play a crucial role in supplying high-quality bicycles suitable for shared use, and technology providers contribute by offering robust software platforms and mobile applications. The bike sharing market offers several benefits, including reduced traffic congestion, improved air quality, enhanced accessibility, and healthier lifestyles. It provides an affordable and eco-friendly transportation option for short-distance commuting, sightseeing, and leisure activities. In addition, bike sharing systems can complement existing public transportation networks, offering first-mile and last-mile connectivity.
Furthermore, the bike sharing market has faced challenges such as bike theft, vandalism, maintenance costs, and the need for ongoing investment in infrastructure. However, advancements in technology, including GPS tracking, secure docking systems, and user authentication, have improved the overall reliability and security of bike sharing systems. For instance, in August 2020, Philadelphia announced its Indego bike share program is now installing tracking devices on some bicycles and has taken action to limit the use of stolen credit cards on the system. Therefore, the bike sharing market is expected to evolve and expand, driven by the demand for sustainable transportation solutions and the ongoing digitalization of urban mobility. Furthermore, in April 2021, CAP-XX Limited announced that VAIMOO, an Italian-based IoT and micro-mobility industry expert, has selected the CAP-XX DMT470 supercap for its magnetic smartphone docking station system featured in the company’s integrated IoT solution for managing e-bike sharing system. It enables the high burst of power needed for all the system’s advanced Bluetooth and GPS/GPRS data communications, and for their thin form factor which fits easily inside the small e-bike IoT device.
Moreover, integration of GPS technology, consumer-ready mobile payments and reducing the investment cost of locking & tracking systems for bikes are the upcoming trends of global bike sharing mMarket in the world.
The bike sharing market is segmented into bike type, sharing system, and region. By bike type, the market is classified into traditional/convectional and e-bike. By sharing system, it is segmented into docked and dock-less. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the study include Anywheel Pte. Ltd, Bird Rides, Inc, BIXI, Bond Mobility (Europe) AG, Lime, Lyft, Inc., Mobike, Nextbike GmbH, Spin, and Uber Technologies Inc. The players in the market have been actively engaged in the adoption of various strategies such as have adopted partnerships, investments, and product launches to remain competitive and gain advantage over the competitors in the market. For instance, September 2020, BIXI Montreal partnered with Hilo to launch its first electric bike station at cegep marie-victorin in riviere-des-prairies-pointe-aux-trembles. In addition, under this partnership hilo will provide electrical assistance to all its e-bike. This electric BIXI station allows for the rental of fully charged bicycles at the station.
Key Market Insights
- By bike type, the traditional/convectional bikes segment was the highest revenue contributor to the market and it is estimated to dominate the market during the forecast period.
- By sharing system, the docked segment was the highest revenue contributor to the market in 2022 and it is estimated to capturing the highest revenue during the forecast period.
- By region, Asia-Pacific was the highest revenue contributor, accounting for largest market share in 2022, and Europe is estimated grow with the highest CAGR during the forecast period.
Companies Mentioned
- Anywheel Pte. Ltd.
- Bird Rides, Inc.
- BIXI
- BOND MOBILITY (EUROPE) AG
- Lime
- Lyft, Inc.
- MOBIKE
- SPIN
- TIER Mobility SE
- Uber Technologies Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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