New York, US, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Bike Sharing Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), Bike Sharing Market: Information by Bike, Sharing Duration, Sharing System, and Region- Forecast till 2030, the bike-sharing market is predicted to show substantial growth during the review timeframe from 2022 to 2030 at a healthy CAGR of approximately 9%. The report further anticipates the market to attain a valuation of around USD 7.3 billion by the end of 2030.
Bike-sharing refers to a creative urban transportation solution integrating the accessibility and functionality of a commuter with public transit connectivity. The global market for bike sharing has demonstrated immense development in the past few times. The vital factor encouraging the market's growth is the rising traffic issues because of the growing usage of cars. Furthermore, the developments in ride-sharing navigation technology are also predicted to catalyze the market's growth over the assessment era. Moreover, the rising number of government initiatives for developing reliable bike-sharing infrastructure is predicted to boost the market's growth over the review timeframe. In addition, the rise of smart cities worldwide is also anticipated to boost the market's growth over the coming years.
Bike Sharing Market Competitive Analysis
The catalog for critical participants across the global market for bike sharing includes players such as:
- Bluegogo (China)
- Neutron Holding, Inc (US)
- Dropbike (Canada)
- Motivate (US)
- JCDecaux (France)
- Jump Bikes (US)
- Lyft, Inc (US)
- OFO (China)
- Mobike (China)
- Nextbike Berlin (Germany)
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Bike Sharing Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 7.3 Billion |
| Growth Rate | CAGR of 9% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Growing traffic issues |
| Key Market Drivers | Developments in ride-sharing navigation technology |
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Bike Sharing Market USP Covered
Bike Sharing Market Drivers
The global market for bike sharing has demonstrated immense development in the past few times owing to the upsurge in the amount of people switching for bicycling, the admiration of dockless bicycle-sharing systems, recent advancements in the mobile app, and the importance of staying fit & having a healthy life.
M Bike Sharing Market arket Restraints
On the other hand, the looming lack of infrastructure across emerging economies may restrict the market's growth.
Bike Sharing Market COVID-19 Impact
The global health crisis in COVID-19 has had a massive impact on the global market for bike sharing. On the other hand, with all the industrial and financial activities returning to normal, the global market for bike sharing is likely to grow substantially over the coming years.
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Bike Sharing Market Segment Analysis
Among all the technologies, the conventional segment is projected to secure the top position across the global Bike Sharing Market over the review era. The central aspect supporting the segment's growth is less repair and maintenance cost of conventional bicycles than electric bicycles. Currently, standard bicycles for women are leading the global market in terms of technology. On the other hand, the electric segment is predicted to show the maximum growth rate over the coming years.
Among all the products, the road bicycle segment is anticipated to hold the top position across the global market for bike sharing over the assessment timeframe. These bikes are fundamental and don't see any sophisticated accessories like those needed by the mountain, racing, or other special-purpose bicycles. The emerging trend among people to customize road bicycles for some purposes is anticipated to boost the segment's growth over the assessment years. On the other hand, the mountain bicycle segment is anticipated to secure the top spot across the global market over the review era.
Among all the distribution channels, the offline distribution channel segment is anticipated to secure the top spot across the global Bike Sharing Market over the review era. The growth of the segment is credited to the presence of many consumers opting to purchase from offline channels/stores, the availability of test-drive options, and the availability of various branded bicycles in local supermarkets. On the other hand, the online distribution channel segment is likely to show the maximum growth over the coming years. the rising penetration of smartphones and the internet across emerging nations is the main parameter supporting the segment's growth.
Among all the end-users, the men's segment is anticipated to ensure the top spot across the global Bike Sharing Market over the coming years. the factor supporting the segment's growth is the growing number of men riding bicycles across the globe.
Bike Sharing Market Regional Analysis
The global market for bike sharing is analyzed across five major regions: Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa.
According to the research reports by MRFR, the Asia-Pacific region is anticipated to hold the top position across the global Bike Sharing Market over the assessment era. The growing vehicle production is the main parameter supporting the regional market's growth. Furthermore, the presence of prominent players operating across this region is also anticipated to influence the regional market's growth over the assessment timeframe. The countries like Singapore, Japan, and China focus on rolling out the infrastructure required to promote and support bicycle commutation. Some of the cities in Asia, like Tokyo, are known for their lowest accident rates and are therefore believed to be suitable cities for metropolitan bicycling. In addition, Chinese bicycle-sharing organizations are intensely focusing on nations like Australia and India to boost their operations. Thus, the bicycle demand is likely to grow over the evaluation period.
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The bike-sharing market for the North American region is likely to record massive growth over the review era. The growing per heads income ranks across the region and the elevating spending capacity are considered to be the main parameters supporting the growth of the regional market.
The European regional market for bike sharing is anticipated to overgrow over the coming years. the region is known to be the hub of some cities believed to be ideal for bicycle commutation. Some famous bicycling events, such as Ronde van Vlaanderen and Tour de France, are also arranged across the region. European countries such as Italy, France, Denmark, and Belgium are forcefully launching the infrastructure to help and support bicycle commuting. They are mainly taking a role in the regional market's growth over the upcoming years.
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