Global Bike-Sharing Service Market 2023-2030

Title: Global Bike-Sharing Service Market Size, Share & Trends Analysis Report by Type (Traditional and Conventional, and Electric-Bikes (E-Bikes)), and by Sharing System (Docked, and Dock-less),Forecast Period (2023-2030).

The global bike-sharing service market is anticipated to grow at a CAGR of 14.2% during the forecast period (2023-2030). Bike sharing is a popular shared transport service that provides conventional bikes or E-bikes for short-term use to individuals at very low price or even for free. Users can conveniently pick up bicycles from multiple docked or dock-less stations scattered throughout the city and return them to any other station within same system. These services offer both locals and tourists an easy, low-cost, and efficient means of transportation within cities. Bike sharing systems are typically facilitated through mobile applications or membership cards, allowing users to easily locate and unlock bikes, track their usage, and make payments. The bike sharing services market has experienced substantial growth in recent years, largely owing to the increasing urbanization, a greater emphasis on sustainable transportation options, and the rising popularity of shared mobility services.

Furthermore, the growing interest in physical activity, coupled with the increased health consciousness, has boosted the demand for bicycle sharing programs. Cycling promotes exercise and helps combat sedentary behaviors, leading to improved fitness and better health. As a result, market players are actively focusing on introducing new programs and initiatives to meet the rising demand for bike-sharing services. For instance, in March 2023, Bike Share Pittsburgh unveiled its plans for the year 2023 at POGOH introduced approximately 220 new bikes and 22 new dock stations along with an updated pricing policy to enhance accessibility and convenience for users.

Segmental Outlook

The global bike-sharing market is segmented by type and sharing system. Based on the type, the market is sub-segmented into traditional and conventional, and e-bikes. Furthermore, based on the sharing system, the market is bifurcated into docked and dockless. Among the type, the e-bikes sub-segment is anticipated to hold a considerable share of the market owing to the rise in manufacturing and demand for e-bikes across the globe. Progressively, bikes are becoming more dependable, eco-friendly, and less expensive. These bikes may be used on tough terrain, thus, are commonly used for a variety of recreational activities.

The Docked Sub-Segment is Anticipated to Hold a Considerable Share of the Global Bike-Sharing Service Market

Among the sharing systems, the docked sub-segment is expected to hold a considerable share of the global bike-sharing market. The growth is primarily attributed to the increasing demand for flexibility and well-organized infrastructure across regions. Properly arranged bike stations and docks are essential for delivering an exceptional user experience. To promote utilization and facilitate last-mile connections, these stations need to be strategically located close to major destinations such as residential communities, commercial hubs, and public transportation centers. As a result, there has been a considerable rise in the establishment of new docked stations for bike rentals globally. For instance, in February 2021, BCycle launched the 3.0 docks, representing a new generation of dock-based bike sharing. The 3.0 docks combine the flexibility and streamlined infrastructure that communities and riders desire, offering enhanced qualities and improved user experience.

Regional Outlook

The global bike-sharing market is further segmented based on geography, including North America (the US and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the European regional market is anticipated to hold a prominent share of the market across the globe. The popularity of the bicycle-sharing technique or services has been grown owing to the improved transportation systems and tougher pollution restrictions.

The European Region is Expected to Grow at a Significant CAGR in the Global Bike-Sharing Market

Among all regions, Europe is anticipated to experience considerable CAGR over the forecast period. Nowadays, bike-sharing schemes have become more user-friendly and accessible owing to the incorporation of innovative technologies, such as mobile apps for bike bookings and GPS tracking. The primary factor contributing to the regional market growth is the increasing demand for bike-sharing services and the introduction of various innovative technologies.

Several key market players serving the European region are focusing on introducing technologically-integrated bike-sharing services. For instance, in March 2023, Nextbike launched several bike-share schemes in Spain and Poland, which included around 3,000 brand-new bicycles, out of which 300 were electronic (E-bikes). These E-bikes are equipped with electronic frame locks and GPS-locatable locations as part of the Veturilo 3.0 bike-share program in Warsaw, Poland. This integration of advanced features enhances the overall user experience and contributes to the growth of the bike-sharing market in Europe.

Market Players Outlook

The major companies serving the bike-sharing market include: Anywheel Pte. Ltd., BIXI Montreal, JCDecaux, Lime, Lyft, Inc., and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2023, MYBYK launched a rental programme for offering bike services in 10 South Mumbai areas that will possess 100 bicycles to encourage last-mile connectivity. The rental programme is introduced in collaboration with the Mumbai Municipal Corporation (MMC) aiming frequently travelling locals, office workers, and visitors to locations such as Marine Drive and the Gateway of India. The service is provided through the MYBYK app, with rates starting at $0.86/day and going up to $9.1/month. Additionally, the company is also intending to introduce E-bikes across the region.

The Report Covers:

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bike-sharing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.