Bike Sharing Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos
Governments all over the world are supporting e-bikes and taking various efforts to encourage their use. Developing countries, such as China and India, are driving the e-bike market. China, for example, is the world's largest e-bike market. China has traditionally been the world's top exporter of electric motorcycles, with high import and export volumes. China's Ministry of Industry and Information Technology reports that during the first 10 months of 2020, the nation's production of electric bicycles increased by 33.4 percent year over year, reaching 25.48 million units. The income of major bicycle manufacturing companies reached around USD 22 billion during this time, an increase of 16.8%. E-bikes are becoming more popular around the world as a result of their quick and flexible operation and zero carbon emissions. The growing popularity of e-bikes as a cost-effective and environmentally responsible mode of transportation is fueling the growth of the bike-sharing industry. The company's expansion is likely to be aided by increased spending in R&D operations aimed at improving battery performance and improving bicycle infrastructure. Commuters mostly use these cycles for hill climbing and carrying big goods, both of which require manual pedaling. Bike-sharing companies in North America and Europe are replacing traditional bikes with e-bikes to give their customers more reliable and efficient service.
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According to UnivDatos Market Insights (UMI)’ research report “Bike Sharing Market”, the market is expected to witness a CAGR growth of around ~12% during the forecast period 2021-2027F. Global Bike Sharing Market is experiencing significant growth due to the Increasing government initiatives to construct the bike-sharing infrastructure along with supportive government policies and focus on increased pollution globally.
Based on bike type, the market is segmented into Traditional Bike and E-Bike. The E-Bike segment is projected to be the most lucrative segment, as e-bikes are becoming more popular around the world as a result of their quick and flexible operations and zero carbon emissions. In addition, an increase in consumer interest in using e-bikes as a cost-effective and environmentally responsible mode of transportation is fueling the growth of bike sharing. Furthermore, when compared to a pedal-operated bike, an e-bike is a much-favored option because it meets the criteria for higher speed in short-distance commuting. Higher speeds, greater convenience, effortless driving, and changing motor power based on road conditions all contribute to the popularity of e-bikes for sharing. Furthermore, governments all around the world are promoting the use of e-bikes through various projects
Based on the sharing system, the market is segmented into Docked and Dockless. Over the anticipated period, the dockless segment is expected to develop at a healthy rate. Due to technical advancements, dockless electric bike-sharing products have been introduced, which enable improved bike-sharing services and convenience of transit access by allowing customers to pick up and drop off bikes at any lawful public vehicle parking instead of the operator's bike stations. The number of dockless electric bikes on the market is increasing. Uber, for example, introduced its dockless electric bikes in London in May 2019. The dockless bikes have baskets and phone mounts, as well as an electric pedal system that delivers up to 15 miles per hour of assistance.
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Based on the model, the market is segmented into Station-based, Free Floating, and P2P. Because of its increased flexibility, accessibility, and affordability, the free-floating model is likely to spread rapidly. To save the cost of installing huge docking stations, service providers are progressively placing dockless cycles on the roadways. The integration of advanced GPS solutions into bikes makes it easier for service providers to locate them in any location, reducing the risk of theft. Commuters primarily utilize these cycles to travel long distances without having to worry about parking. For returning the bike to a designated parking place, several service providers, such as LimeBike and oBike, offer credit points. Increasing traffic congestion in cities is encouraging commuters to use free-floating options rather than station-based options
Asia Pacific to Grab Lion’s Share
From 2021 to 2027, the Asia Pacific bike sharing market is estimated to grow significantly. Due to changing consumer preferences for energy-efficient transportation solutions, the industry is experiencing rapid expansion in the region. China has over 70 bike-sharing organizations, according to the Ministry of Transport (MoT), with 23 million bicycles and over 400 million customers across the country. Industry expansion is aided by urbanization and a rapidly growing population in India and China. Due to the vast number of prospective clients in the region, several start-ups are investing in the Chinese market. Furthermore, around 30 Chinese cities, including Shanghai and Beijing, have enacted a number of regulations to guide bike-sharing maintenance, operation, and production, allowing service providers to remove broken bikes from the fleet. For example, in August 2017, China issued a national framework for regulating dockless bike-sharing to guarantee that bikes are distributed evenly and that specified parking spaces are available.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Bike Sharing Market include Lyft, Inc., Uber Technologies, Inc., Neutron Holdings Inc., Meituan, Dropbike Inc., JCDecaux Group, Mobike, Motivate LLC, Jump Bicycles and Nextbike Berlin
· In Apr. 2018, the company acquired Jump Bikes, the bike-sharing company, launched as Social Bicycles in 2011, which runs GPS-enabled programs in twelve cities all over the world, including Portland, Oregon, and Phoenix, Arizona. The acquisition is a signal that Uber doesn’t want to be seen as just a taxi substitute, but an urban mobility company
“Global Bike Sharing Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
1. By Bike Type (Traditional Bike and E-Bike)
2. By Sharing System (Docked and Dockless)
3. By Model (Station-based, Free Floating, and P2P)
4. By Region (North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World)
5. By Company (Lyft, Inc., Uber Technologies, Inc., Neutron Holdings Inc., Meituan, Dropbike Inc., JCDecaux Group, Mobike, Motivate LLC, Jump Bicycles and Nextbike Berlin)
Key questions answered in the study:
1. What are the current and future trends of the Global Bike Sharing industry?
2. How the industry has been evolving in terms of end-user demand and product category?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Bike Sharing industry?
5. What is the customer orientation, purchase behavior, and expectations from the Global Bike Sharing suppliers across various countries?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 BIKE SHARING MARKET COVID-19 IMPACT
6 BIKE SHARING MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY BIKE TYPE
8 MARKET INSIGHTS BY SHARING SYSTEM
9 MARKET INSIGHTS BY MODEL
10 MARKET INSIGHTS BY REGION
11 BIKE SHARING MARKET DYNAMICS
12 BIKE SHARING MARKET OPPORTUNITIES
13 BIKE SHARING MARKET TRENDS
14 LEGAL & REGULATORY FRAMEWORK
15 DEMAND AND SUPPLY SIDE ANALYSIS
16 VALUE CHAIN ANALYSIS
17 COMPETITIVE SCENARIO
18 COMPANY PROFILED
19 DISCLAIMER
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