Bike Sharing Market - Growth, Trends, and Forecasts (2020 - 2025)

The Bike Sharing Market is segmented by Bike Type (Traditional/Regular Bike and E-bike), Sharing System (Docked and Dockless), and Geography.

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

North America

Largest Market:

Asia Pacific

CAGR:

6.5 %

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Market Overview

The bike sharing market is anticipated to register a CAGR of over 6.5% during the forecast period (2020 – 2025).

  • The growing needs of urban transportation has periodically increased the number of vehicle usage on road and ultimately led to heavy traffic jams and high environmental pollution. To alleviate the above growing issue, the bike sharing program has been widely adopted by major regions, like Asia-Pacific, North America, and Europe.
  • Many bike sharing operators have started focusing on expanding their fleet of e-bikes to sustain in the growing competition in the bike sharing market. For instance, Mobike, and Ofo plan to expand their e-bike sharing services not only in Asian countries but across international markets, like North America and Europe. In addition to this, Jump Bike extended nearly 250 fleets of an electric bike to the customers of San Francisco, the United States, in 2018.
  • Growing technologies, such as the proliferation of GPS technology, consumer-ready mobile payments, and IoT, and reducing the investment cost of locking and tracking systems for bikes have led to the introduction of dockless bike sharing system in the market. The dockless bike sharing system resulted in offering better bike sharing services in the growing urban commutes and allows the ease of transit access by offering users the sheer flexibility of picking up and dropping off bikes freely at any legal public vehicle parking instead of operator’s bike stations.

Scope of the Report

The bike sharing market is segmented by bike type (traditional/regular bike and e-bike), sharing system (docked and dockless), and geography (North America, Europe, Asia-Pacific, and Rest of the World).

Bike
Traditional Bike
E-bike
Sharing System
Docked
Dockless
Geography
North America
Europe
Asia-Pacific
Rest of the World

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Key Market Trends

Growing Demand for Eco-friendly Transportation

Mobility plays a significant role in the current world. However, due to continually growing environmental and health concerns and increasing emission levels, governments and international organizations across the world are enacting stringent emission norms to reduce carbon emission levels. Additionally, depletion of fossil fuel levels at an alarming rate has been creating a sustainability concerns for the future generations, thereby, posing a huge challenge for the governments and society. Thus, e-bikes are proving to be an ideal solution for the challenge.

E-bikes, especially pedelecs, are gradually becoming the ideal mode of transportation. E-bikes, such as pedelecs, are eco-friendly and reliable.

  • Moreover, they are also a great mode of transportation, especially for recreational activities, as they offer fun of cycling, combined with the suitability of an automobile.
  • Furthermore, they allow consumers the ability to navigate on rough terrains, which are otherwise a bit difficult to ride without an electric motor, thereby, making e-bikes popular across the world.

The governments across the world are promoting e-bikes and also taking various initiatives. The e-bike demand is majorly driven by developing countries, such as China and India. For instance, China is the largest market for e-bike. The import and export volumes in China are also large, and China has always been the largest exporter of electric bikes. The Government of India has also encouraged to use electric bikes. By the end of 2035, the government is looking forward to convert fuel vehicles into electric vehicles.

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Bike Sharing Growing Across Asia-Pacific

People across Asia are renting bikes via phone apps for rides. According to the Ministry of Transportation of China, more than 16 million bikes were sold in 2016-2017. China contributed to more than 50% of the Asia-Pacific electric bike sharing market in 2016-2017, owing to its high consumption of electric bikes, in order to tackle heavy traffic conditions, as well as growing vehicle pollution in the country.

Mobike and Ofo have been the major players in the Chinese bike sharing market. However, there are other players in the Chinese market trying to the capture growing bike sharing market. For instance, Hellobike, a start-up company established in 2016, captured a presence in 300 Chinese cities, majorly in smaller rural cities, and claims around 20 million rides on their bicycle daily.

The US federal government subsidizes the purchase of electric car, where about USD 7,500 was realized as income tax reduction at the end of financial year. Unlike electric cars, currently there are no government programs that provide incentives toward the purchase of e-bike in the United States. However, some of the bicycle associations in the states of the United States, such as Californian Bicycle Coalition, are filing a petition for the similar benefit from the government. Thus, e-bike sharing has been widely preferred across the United States.

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Competitive Landscape

The bike sharing market is majorly dominated by players, such as Lyft, Ofo, Uber, Neutron Holdings Inc., dba Lime (formerly LimeBike), Youon Bike, Mobike, and Bird Rides. The bike sharing market is growing swiftly, and companies are expanding their business by making acquisitions and launching new services. For instance:

  • July 2018: Lyft, a ride-hailing company, acquired the largest North American bike sharing company Motivate, the parent company of New York City’s CitiBank and Chicago’s Ford GoBike. Motivate occupies nearly 80% of the bike rental trips in the United States and the company bikes will be renamed as Lyft Bikes.
  • April 2018: Uber acquired Jump Bikes for an amount of approximately USD 200 million. With the acquisition of Jump Bikes, Uber owns and operates a fleet of dockless electric bikes in San Francisco and other US cities. Uber has also started extending its Jump e-bike services into the European region.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Bike

      1. 5.1.1 Traditional Bike

      2. 5.1.2 E-bike

    2. 5.2 Sharing System

      1. 5.2.1 Docked

      2. 5.2.2 Dockless

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Uber Technologies Inc.

      2. 6.2.2 ofo Inc.

      3. 6.2.3 Neutron Holdings Inc.

      4. 6.2.4 Lyft Inc.

      5. 6.2.5 Bluegogo

      6. 6.2.6 JCDecaux Group

      7. 6.2.7 Youon Bike

      8. 6.2.8 Bird Rides Inc.

      9. 6.2.9 Mobike

      10. 6.2.10 *List Not Exhaustive

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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