The global bike sharing market is garnering huge traction. Due to the increasing pressure to reduce the carbon footprint across the globe, e-mobility has become a practical solution to commute short distances. Moreover, the increasing fuel costs and maintenance of fuel-powered vehicles are escalating the market on the global platform.
Although still in its nascent stage,
the bike sharing market is projected to gain substantial revenues growth. In
this regard, Market Research Future (MRFR) asserts that the global bike sharing
market is estimated to grow exponentially by 2030, posting a significant CAGR
throughout the forecast period (2022 – 2030).
New government targets for introducing
e-mobility are acting as a key driving force for the growth of the market.
Additional factors pushing the growth of the market include developments in
battery technologies and declining battery costs. Technological upgrades are
expected to have a positive impact on industry growth.
Global Bike Sharing Market -
Regional Analysis
The Asia Pacific region dominates the global
bike sharing market owing to the presence of various key manufacturers and
the rapid adoption of these services. Moreover, the rising per capita
disposable incomes and spending capacity of consumers boost the bike sharing
market size in this region.
Developing countries such as Japan,
China, India, Taiwan, Singapore, and others have a large number of two-wheeler
users. China and Taiwan are considered, as a home for bike-sharing services in
Asia, whereas India's bike-sharing market is continually rising due to the
immense focus on the EV industry by the Modi Government.
Global Bike Sharing Market -
Competitive Landscape
Highly competitive, the bike sharing
market appears to be well-established due to the presence of several notable
players. Players incorporate strategic initiatives such as acquisition,
partnership, product launch, and expansion to gain a competitive advantage in
this market while focusing on product innovation and new manufacturing
processes.
Major Players:
- Bluegogo
(China)
- Dropbike
(Canada)
- JCDecaux
(France)
- Lyft
Inc (US)
- Mobike
(China)
- Neutron
Holding Inc (US)
- Motivate
(US)
- Jump
Bikes (US)
- OFO
(China)
- Nextbike
Berlin (Germany)
Bike Sharing Market
Segmentation
By Bike
- Traditional
Bike
- E
Bike
By Sharing System
- Docked
- Dockless
By Sharing Duration
- Short
Term
- Long
Term
Industry/ Innovation/ Related
News
Aug.16, 2021 --- Spin, a bike-sharing
company in the US, announced the integration of Google Maps into Spin eScooters
and eBikes to make it easier for millions of users to locate vehicles during
their daily trips. Spin has deployed its vehicles in 84 towns, cities, and
campuses in the US, Canada, Germany, and Spain. Spin's goal is to make it as
low friction as possible for consumers to plan multi-modal journeys. Users
then would be taken to the Spin app to pay for the vehicle.
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