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Bike Sharing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A5343
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Market Overview:
The global bike sharing market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.86% during 2023-2028.
Bike sharing is a shared transportation service enabling individuals to rent or borrow conventional or electric bikes for a short-term basis. It is environment friendly and consequently allows the rider to travel without fuel consumption, thereby assisting in reducing carbon dioxide (CO2) emissions. It reduces road congestion, increases financial savings, and offers health benefits like preventing depression and anxiety and improving the overall fitness of an individual.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Bike Sharing Market Trends:
At present, there is a rise in the utilization of bike-sharing services in urban areas due to increasing traffic congestion and inflating fuel prices across the globe. This, along with the growing awareness about the benefits of environment-friendly transport solutions, such as bicycles and electric bikes, represents one of the key factors driving the market. Moreover, governments of several countries are offering subsidies to service providers for developing stations and expanding their reach. They are also focusing on the development of enhanced bike-sharing infrastructures, which is propelling the growth of the market. In addition, the increasing employment of e-bikes around the world on account of their fast and reliable operations is offering lucrative growth opportunities to end-users and investors. Besides this, there is an increase in the application of global positioning system (GPS) tracking, prepaid payment options, and the internet of things (IoT) in bikes. In line with this, the escalating demand for dockless bike-sharing systems worldwide as it saves time for parking bikes is bolstering the market growth. Additionally, key market players are extensively investing in research and development (R&D) activities to enhance the battery performance and efficiency of bikes, which is projected to positively influence the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global bike sharing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on bike type, sharing system and application.
Breakup by Bike Type:
- Traditional and Convectional
- E-Bikes
Breakup by Sharing System:
- Docked
- Dock-Less
Breakup by Application:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Short Term
- Long Term
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Beijing Xiaoju Technology Co. Ltd., Bird Rides Inc., BIXI Montréal, CycleHop LLC, Donkeyrepublic Admin Aps, JCDecaux Group, Lime, Lyft Inc., Nextbike GmbH (TIER Mobility AG), SG Bike Pte. Ltd. (ISOTeam Ltd.), Smoove and Uber Technologies Inc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Bike Type, Sharing System, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Beijing Xiaoju Technology Co. Ltd., Bird Rides Inc., BIXI Montréal, CycleHop LLC, Donkeyrepublic Admin Aps, JCDecaux Group, Lime, Lyft Inc., Nextbike GmbH (TIER Mobility AG), SG Bike Pte. Ltd. (ISOTeam Ltd.), Smoove and Uber Technologies Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global bike sharing market was valued at US$ 3.5 Billion in 2022.
We expect the global bike sharing market to exhibit a CAGR of 4.86% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic had led to the growing consumer inclination towards personal vehicles to combat the risk of the coronavirus infection, thereby negatively impacting the global market for bike sharing.
The increasing traffic congestion, the inflating fuel prices, and the rising demand for environment-friendly transport solutions, such as bicycles and electric bikes, are primarily driving the global bike sharing market.
Based on the bike type, the global bike sharing market can be segmented into traditional and convectional and e-bikes. Currently, traditional and convectional bike holds the majority of the total market share.
Based on the sharing system, the global bike sharing market has been divided into docked and dock-less, where docked sharing system currently exhibits a clear dominance in the market.
Based on the application, the global bike sharing market can be categorized into short term and long term. Currently, short term accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global bike sharing market include Beijing Xiaoju Technology Co. Ltd., Bird Rides Inc., BIXI Montréal, CycleHop LLC, Donkeyrepublic Admin Aps, JCDecaux Group, Lime, Lyft Inc., Nextbike GmbH (TIER Mobility AG), SG Bike Pte. Ltd. (ISOTeam Ltd.), Smoove, and Uber Technologies Inc.
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