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Bike Sharing Market

Global Bike Sharing Market is expected to foresee steady growth. The Asia Pacific holds the largest share!

The global Bike Sharing market is expected to grow at a CAGR of around ~12% during the forecast period 2021-2027. The modern world heavily depends on mobility. Governments and international organizations throughout the world are establishing strict emission rules to reduce carbon emission levels, albeit this is due to the ongoing growth of environmental and health concerns as well as rising emission levels. Governments and society are faced with a formidable issue as a result of the alarming rate at which fossil fuel levels are being depleted. E-bikes are proven to be the perfect answer to the problem as a result. The ideal form of mobility is increasingly e-bikes, particularly pedelecs. Pedelecs are reliable and environmentally friendly e-bikes. For instance, an e-bike seller named HumanForest raised GBP 1.3 million through a crowdfunding campaign in December 2020. A sustainable e-bike service will be made available in cities by the London-based HumanForest, beginning in the spring with London and then spreading around Europe. With 200 e-bikes, HumanForest tested this service throughout the summer, and it intends to use the most recent funding to increase the fleet to 1,500 e-bikes.

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The primary use of bike sharing is for short-distance excursions because it is both affordable and practical. Sharing bikes is an environmentally responsible way to travel because it is a relatively clean form of transportation. Rental services and leisure activities are the main uses for these kinds of facilities. Hybrid, free-floating, freight, and dock-based bike-sharing are only a few examples of several bike-sharing schemes. Growing adoption of electric bikes along with increased collaboration between mobility as a service providers and bike sharing firms is anticipated to fuel industry expansion. Additionally, increased comfort and speed over short distances are anticipated to boost market expansion. However, some of the main obstacles are the increase in bike theft, vandalism, and costly initial investment costs are impacting the market growth. Increased demand for urban mobility has led to a rise in the number of vehicles, particularly two-wheelers and passenger cars, which has resulted in both high traffic congestion and noise pollution. The governments of various nations, including India, China, and Germany, are promoting bicycle sharing programs by creating road infrastructure that is specifically suited for bicycle use in an effort to lessen the aforementioned problems.

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Due to the total lockdown and temporary shutdown of industries around the world, the outbreak of COVID-19 had a huge impact on the global economy. Many individuals congregate in one shared place on public transportation, which aids in the spread of the coronavirus disease. In the wake of the COVID-19 pandemic, many people are opting for isolated modes of transportation such as driving or biking over public transportation or ride-sharing. Due to health and safety concerns during the outbreak, people are opting for bike sharing services to cover medium to short distances. The COVID-19 outbreak and subsequent closures wreaked havoc on the bike-sharing industry in a number of countries. The pandemic’s negative effects can be seen in the drop in daily bike bookings. As a result, the market’s growth in 2020 was hampered by lower adoption rates due to pandemic-related disruptions.

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For a better understanding of the market adoption of the Bike Sharing, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. 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.

Global Bike Sharing Market Segmentation

Market Insight, by Bike Type

  • Traditional Bike
  • E-Bike

Market Insight, by Sharing System

  • Docked
  • Dockless

Market Insight, by Model

  • Station-based
  • Free Floating
  • P2P

Market Insight, by Region

  • North America Bike Sharing Market
    • United States
    • Canada
    • Rest of North America
  • Europe Bike Sharing Market
    • Germany
    • France
    • United Kingdom
    • Italy
    • Rest of Europe
  • Asia Pacific Bike Sharing Market
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World Bike Sharing Market

Top Company Profiles

  • Lyft, Inc.
  • Uber Technologies, Inc.
  • Neutron Holdings Inc.
  • Meituan
  • Dropbike Inc.
  • JCDecaux Group
  • Mobike
  • Motivate LLC
  • Jump Bicycles
  • Nextbike Berlin

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