January 10, 2020
According to the research report titled ‘Bike Sharing Market Size By Type (Conventional Bikes, E-Bikes), By Model (Station-based, Free Floating, P2P) Industry Analysis Report, Regional Outlook (U.S. [New York, San Francisco, Chicago], Canada [Toronto, Montreal], UK [London], Germany [Berlin], France [Paris], Italy [Milan], Spain [Barcelona], China [Shanghai, Beijing], India [Bangalore], Japan [Tokyo], South Korea [Seoul], Brazil, Mexico, UAE, Saudi Arabia), Application Growth Potential, Price Trends, Competitive Market Share & Unit Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global bike sharing market is estimated to surpass USD 10 billion by the year 2025.
According to the report, increasing health and environmental concerns has led to rising adoption of green transport solutions which in turn is driving the bike sharing market growth. Various governments across the globe are providing ample parking space for bikes in order to promote bike sharing programs. This factor in tandem with technological advancements in bike-sharing solutions are aiding the expansion of the market.
The upsurge in carbon emission and traffic congestions has compelled commuters to use environment friendly transportation options such as electric-vehicles, carpooling, and bike-sharing. However, rising number of cases of dockless bike thefts in consort with inadequate awareness pertaining to bike-sharing solutions in rural areas will hinder the market growth.
By model type, the report cites that free-floating bikes segment is presumed to grow significantly during the estimated timeframe. Free-floating bikes offer better convenience and accessibility as compared to its counterparts, thereby stimulating the industry outlook.
Considering the geographical landscape, bike-sharing market will amass substantial gains from developing regions such as Asia-Pacific and Middle East & Africa during the forecast period. Rising smart city development in Middle East & Africa and Asia-Pacific regions is facilitating the business scenario. On the other hand, North America bike-sharing market is expected to grow considerably owing to rising number of working professionals and high presence of key industry players.
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Youon Bike, Tembici, Spin, SG Bike, ofo Inc., Mobike, Lyft Inc., Lime, JUMP, JCDecaux Group, GrabTaxi Holdings Pte Ltd., Ford GoBike, Divvy, Citi Bike NYC, Capital Bikeshare and Bixi are the prominent companies operating in the bike-sharing market.
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