The global bike-sharing market size was US$ 3,011.0 million in 2021. The global bike-sharing market is forecast to grow to US$ 8,601.2 million by 2030 by growing at a compound annual growth rate (CAGR) of 14.9% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The availability of bike-sharing services at low cost is expected to significantly benefit the bike-sharing market during the study period. In addition, the growing preference for carpool and bike pool services is expected to contribute to the growth of ride-hailing and ride-sharing services.
The growing range of innovative strategies announced by leading market players, such as Ola and Uber, is expected to drive the market forward. Furthermore, the convenience offered by bike-sharing service providers, such as easy pick-up and drop at the exact location, will escalate the growth of the market.
Favourable initiatives by government bodies for the development of bike-sharing infrastructure will escalate the growth of the market. For instance, the municipal governments of China subsidized the Public Bike Sharing Program (PBSP) development in 2018 with the aim to encourage non-motorized transport. Moreover, this initiative also aims to offer convenient, flexible, and low-cost mobility options to the end-users. Thus, such initiatives will accelerate the growth of the market during the study period.
The growing range of ride-hailing and ride-sharing services at low cost will surge the competition between the industry players. As a result, efficient strategies to attract customers will propel the market forward during the forecast period.
High initial investment costs may limit the growth of the market during the study period.
Regional Analysis
Based on the regions, the North American bike-sharing market is forecast to emerge as the largest market. It is owing to the growing demand for these services for short and long-distance travel. Furthermore, the rising adoption of electric bikes is forecast to benefit the overall market during the study period. Rising disposable income and the early adoption of the business model are expected to benefit the market during the forecast period. The presence of a large working population will also contribute to market growth.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic negatively affected the bike-sharing business as governments in many countries imposed strict lockdown to curb the virus's spread. Furthermore, the demand for bike-sharing drastically fell as the majority of the working population got work-from-home. In addition, the reduction in the workforce due to the virus spread further hampered the growth of this market.
Competitors in the Market
Anywheel Pte. Ltd
BIXI Montreal
Beijing Xiaoju Technology Co, Ltd.
Bird Rides, Inc
Bond Mobility (Europe) AG
JCDecaux
SG Bike Pte Ltd
Spin
Tembici
Lime
LYft, Inc.
Mobike
Nextbike GmbH
Uber Technologies Inc.
Youon Technology Co., Ltd.
Other Prominent Players
Market Segmentation
The global bike-sharing market segmentation focuses on Bike Type, Sharing System, and Region.
By Bike Type Outlook
Traditional/Convectional
E-Bikes
By Sharing System Outlook
Docked
Dock-less
By Regional Outlook
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
RELATED REPORT
ENVIRONMENTAL CATALYSTS MARKET RESEARCH: GLOBAL STATUS & FORECAST...
ENVIRONMENTAL REMEDIATION MARKET STATUS AND FORECAST IN GLOBAL...
CONSTRUCTION WASTE PROCESSING MARKET STATUS AND TREND ANALYSIS...
GLOBAL WASTE COLLECTION EQUIPMENT MARKET ANALYSIS 2016-2021 AND...
GLOBAL DENOX SCR CATALYST MARKET ANALYSIS 2016-2021 AND...
GLOBAL INDUSTRIAL EMISSION CONTROL SYSTEMS MARKET ANALYSIS 2016-2021...
GLOBAL MUNICIPAL SOLID WASTE TREATMENT DISPOSAL MARKET ANALYSIS...
GLOBAL AIR POLLUTION CONTROL MARKET ANALYSIS 2016-2021 AND...
GLOBAL INDUSTRIAL DENOX SYSTEMS & SERVICES MARKET ANALYSIS...
GLOBAL WATER QUALITY MONITORING MARKET ANALYSIS 2016-2020 AND...
GLOBAL WASTE SEPARATION BINS MARKET ANALYSIS 2016-2020 AND...
GLOBAL MUNICIPAL SOLID WASTE TREATMENT DISPOSAL MARKET ANALYSIS...
GLOBAL WATER QUALITY MONITORING MARKET ANALYSIS 2016-2020 AND...
MARINE DESALINATION MARKET STATUS AND FORECAST IN GLOBAL...
INDUSTRIAL EMISSION CONTROL SYSTEMS MARKET STATUS AND FORECAST...
