The global bicycle sharing service market is estimated at US $
Covina, Calif., May 4, 2021 (GLOBE NEWSWIRE) – The global bicycle sharing service market was worth US $ 3.7 billion in 2020 and is estimated at US $ 21.3 billion by 2030 and is expected to register a 10.4% CAGR. Bike sharing is the making available of bikes for shared use through a self-service rental system in which people can rent bikes for a limited period. The two forms of bike sharing systems available worldwide are dockless and station-based, with station-less services becoming more common in 2017-2018. Even service providers prefer bikes without docking stations to station-based systems because they require less capital investment. Electric bikes are rapidly gaining popularity among the two styles of share bikes, pedal and electric. The European self-service bicycle market is expected to grow at the highest rate in the world, as a significant number of service providers are expected to enter the region in the coming years. In addition, the European Union (EU) encourages the use of these facilities as they are environmentally friendly and help to minimize traffic congestion. As a result, with an increasing number of people looking for cost-effective regular transportation alternatives, ride-sharing programs will continue to gain popularity.
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The report “Global Bicycle Sharing Services Market, By Model (Stationary & No Docking Station), By Type (Conventional Bikes & Electric Bikes), By Age (18-24 Years, 25-34 Years, 35-44 years and Other) and by region (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa) – Trends, analysis and forecasts to 2030.
- In December 2020, in India, Chandigarh Smart City Limited (CSCL) launched a 225-cycle pilot project at 25 docking stations.
- The German Development Cooperation (GIZ) and the Vietnamese Ministry of Construction signed a memorandum of understanding in November 2020 to collaborate on the development of technical guidelines for the design of cycling infrastructure.
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The global bicycle sharing services market is still in its early stages of growth, but it is expected to offer substantial investment opportunities to all ecosystem players (operators, federal agencies, etc.). Government investments in building reliable bike sharing networks and promoting ideas such as smart cities bode well for business development. The demand for travel and the number of vehicles have increased dramatically due to rapid urbanization. Dockless bike sharing, on the other hand, offers more convenience to users as they don’t have to think of full stations on arrival or empty stations at the start of their journey. . Proven companies in other fields are trying to enter the bike sharing market in light of the optimistic outlook and gain a first-come advantage.
Browse 60 tables of market data * and 35 numbers * across 140 slides and detailed table of contents on ‘Global Bicycle Sharing Service Market, By Model (Stationary & No Docking Station), By Type (Bikes conventional and electric bicycles), by age (18-24 years, 25-34 years, 35-44 years and others) and by region (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa) – Trends, analysis and forecasts up to 2029.
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Key market insights from the report:
The global bicycle sharing service market was worth US $ 3.7 billion in 2020 and is estimated to be worth US $ 21.3 billion by 2030 and is expected to register a CAGR of 10.4%. The global bicycle sharing services market is segmented on the basis of model, type, age, and region.
- By model, the global bicycle sharing services market is segmented into station and non-docking station.
- By type, the market is segmented into conventional bicycles and electric bicycles.
- By age, the global bicycle sharing services market is segmented into 18-24 years old, 25-34 years old, 35-44 years old and others.
- By region, the global bicycle sharing services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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The major players in the global bicycle sharing services market are Hangzhou Public Transport Corporation, NYC Bike Share, LLC, Gobee.bike, LimeBike, Dropbike, Ofo, Beijing Mobike Technology Co., Ltd., Uber Technologies Inc., Zagster, Inc., and GrabTaxi Holdings Pte Ltd. The major players operating in the target market focus on strategic partnerships as well as product launches in order to gain competitive advantage in the target market. For example, in December 2018, Ford GoBike announced the addition of around 600 e-bikes to the US market.
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