DUBLIN, Jan. 30, 2020 /PRNewswire/ -- The "Bike Sharing Market Research Report: By Type, Geographical Outlook - Industry Analysis and Growth Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Bike Sharing Market Size to Almost Double during 2019-2025
With urbanization, the demand for daily commuting is also growing. People need an efficient transportation mode to travel from their homes to an intermediate point, such as a bus stop or metro station, and then from that intermediate point to work, college or any other destination.
Additionally, a large number of people also travel directly between their home and destination, without using intermediary modes of transport. Hiring a cab or using other public transit services can be slightly expensive and not always reliable, in terms of efficiency, which is why the demand for micromobility services, including bike (bicycle) sharing, is rising.
From $2.7 billion in 2018, the bike sharing services market is expected to grow to $5 billion by 2025, at a 10.2% CAGR during 2019-2025 (forecast period).
Dock-less and station-based are the two types of bike sharing services available across the world, of which dock-less services were more popular in 2017-2018. This is because dock-less bikes can be picked up and dropped off anywhere, as per the convenience of riders, which makes them more popular. Even service providers prefer dock-less bikes, as these require less capital expenditure than the station-based system.
Among the two types of bikes available for sharing purposes - pedal and electric - e-bikes are rapidly gaining popularity. The major reason behind it is that such vehicles are capable of higher speeds, compared to manually operated bikes. As the demand for higher speeds for short-distance traveling is increasing, so is the preference for e-bikes. People are ignoring the fact that sharing services on pedal-assisted bikes are cheaper than e-bikes, as the latter offer effortless driving, more convenience, and variable motor power, apart from higher speed.
Along with offering commuters cost efficiency, bike sharing also helps in tackling the problem of road congestion. With the increasing population, especially in cities, the number of vehicles on the roads is also going up. This is leading to the growing problem of urban congestion, which is prompting governments across the world to encourage the usage of bikes for first- and last-mile commute. As such vehicles take up significantly less space on roads and also require smaller parking slots, these help in controlling the traffic congestion.
Yet another factor tipping the scales in shared bikes' favor is the convenience they offer to users. Commuters have to pay a small registration fee, followed by additional charges for every 30 minutes of travel. Additionally, bicycles are available 24 hours a day, making round-the-clock commute possible. Service providers have mobile applications, which provide important details, regarding the bikes, to users, along with instant booking facility. As there are no fixed parking spots (for dock-less services), people can keep the vehicles anywhere, after the end of their journey, which saves the time, otherwise spent in locating parking stations.
The bike sharing market growth in Europe is predicted to be the fastest across the globe, as a large number of service providers would venture into the region in the coming years. In regional countries, bikes are being rapidly made available near major transit hubs, such as railway stations, thereby offering users convenience and ease of travel. Additionally, the European Union (EU) also promotes such services, as they are environment-friendly and help reduce traffic.
Therefore, with an increasing number of people demanding cost-effective daily commuting options, the popularity of bike sharing services would continue increasing.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Type
1.3.2 Market Segmentation by Region
1.3.3 Analysis Period
1.3.4 Market Data Reporting Unit
1.3.4.1 Value
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition
4.1.1 By Type
4.1.1.1 Station-based
4.1.1.2 Dock-less
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Partnerships between mobility as a service (MaaS) providers and bike sharing companies
4.3.2 Drivers
4.3.2.1 Economical mobility option
4.3.2.2 Deployment of e-bikes
4.3.2.3 Urban road congestion
4.3.2.4 Greater convenience
4.3.2.5 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Vandalism, thefts, and improper parking
4.3.3.2 Regulatory hurdles
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Increasing integration of other modes of transport
4.4 Porter's Five Forces Analysis
4.5 Rides by Region
Chapter 5. User Analysis of Bike Sharing Service
5.1 By Age
5.2 By Gender
5.3 By Trip Distance
5.4 By Purpose
5.5 By Commuting Pattern
Chapter 6. Business Model
6.1 Infrastructure
6.2 Offerings
6.3 Customers
6.4 Finance
Chapter 7. Regulatory Landscape of Global Market
7.1 North America
7.1.1 U.S.
7.1.2 Canada
7.2 Europe
7.2.1 Germany
7.2.2 Italy
7.2.3 France
7.2.4 U.K.
7.3 APAC
7.3.1 China
7.3.2 India
7.3.3 Singapore
Chapter 8. Global Market Size and Forecast
8.1 By Type
8.2 By Region
Chapter 9. North America Market Size and Forecast
9.1 By Type
9.2 By Country
9.3 Market Share Analysis of Major Players
Chapter 10. Europe Market Size and Forecast
10.1 By Type
10.2 By Country
10.3 Market Share Analysis of Major Players
Chapter 11. APAC Market Size and Forecast
11.1 By Type
11.2 By Country
11.3 Market Share Analysis of Major Players in APAC
Chapter 12. LAMEA Market Size and Forecast
12.1 By Type
12.2 By Country
12.3 Market Share Analysis of Major Players
Chapter 13. Competitive Landscape of Global Bike Sharing Market
13.1 List of Key Players and Their Offerings
13.2 Market Share Analysis of Key Players
13.3 Competitive Benchmarking of Key Players
13.4 Recent Strategic Developments By Key Players
13.4.1 Service launches
13.4.2 Partnerships
13.4.3 Investments
13.4.4 Mergers and acquisitions
13.4.5 Other developments
Chapter 14. Company Profiles
14.1 Motivate Inc. (Citi Bike)
14.1.1 Company Overview
14.1.2 Company Snapshot
14.2 Bond Mobility Inc. (Smide)
14.3 Anywheel Pte. Ltd.
14.4 Yulu Bikes Pvt. Ltd.
14.5 SMOOVE SAS (Velib)
14.6 DiDi Chuxing (DiDi Bike)
14.7 CycleHop LLC (HOPR)
14.8 Donkey Republic ApS (Donkey Republic)
14.9 Beijing Mobike Technology Co. Ltd. (Meituan Bike)
14.10 Nextbike GmbH (nextbike)
14.11 Ofo Inc. (Ofo)
14.12 Wheels Labs Inc.
14.13 G.bike
14.14 Youon Technology Co. Ltd. (Hellobike)
14.15 Neutron Holdings Inc. (Lime)
14.16 Social Bicycles Inc. (JUMP)
14.17 Bycyshare Technologies Pvt. Ltd. (Mobycy)
For more information about this report visit https://www.researchandmarkets.com/r/5y3t92
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