PUBLISHER: Allied Market Research | PRODUCT CODE: 1140100
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140100
The report incorporates the study of the global bike rental market that focuses on the bike rental service for short to medium distance commuting for a price or free. It is available at on-street docked or dock-less stations, allowing commuters to borrow a bike and return it at another station. The bike rental companies offer the motorcycles/scooters as per the customer's requirement based on the hourly, daily, weekly, and monthly renting duration, along with additional facilities like panniers, helmets, riding gears, and many more. For instance, in October 2020, Lime partnered with Hilton, a leading hotel in London, to help guests to see London safely. It offered hotel guests new to Lime the first 15 minutes of a JUMP ride free at all participating Hilton hotels, which was enough time to get to nearby attractions. Also, regularly sanitized helmets were made available at the reception desk of each hotel. Moreover, bike rental services have also been cited to solve the last mile problem of public transit networks. These services are an innovative solution to the urban mobility challenges and effectively promote urban more sustainable and environmentally friendly mobility.
The factors such as rise in venture capital and strategic investments, increasing inclusion e-bikes in the rental fleet, and rise in demand for short-term rental services supplement the growth of the bike rental market. However, high initial investment cost and rise in bike vandalism & theft are the factors expected to hamper the growth of the bike rental market. In addition, technological advancement in bike rental system and increasing government initiatives for the development of rental-bike infrastructure creates market opportunities for the key players operating in the bike rental market.
For the purpose of analysis, the global bike rental market is segmented on the basis of service type, propulsion, operational model, distance travelled and region. By service type, the market is divided into pay as you go and subscription based. By propulsion, it is fragmented into pedal and electric. By operational model, it is categorized into dockless and station based. By distance travelled, it is further classified into short trip (less than 5 km), medium trip (5 km to 15 km), and long trip (more than 15 km). By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the bike rental market are Bird Rides, Inc., Bolt Technology OU, Bounce, Cityscoot, Cooltra, Drivezy, Inc., Lime, Lyft, Inc., Nextbike GmbH, ONN Bikes, SG Bike Pte Ltd, Spin, Tembici, Uber Technologies Inc., Vogo Automotive Pvt. Ltd., VOI Technology, and Yulu Bikes Pvt Ltd.
Key Benefits For Stakeholders
Key Market Segments
By Service Type
By Propulsion
By Operational Model
By Distance Travelled
By Region