Bike Sharing Market Outlook 2023-2028:
IMARC Group’s latest report, titled “Bike Sharing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, 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.
What is a Bike Sharing System ? :
Bike sharing is a system where bicycles are made available for shared use to individuals who do not own them. This concept has recently gained popularity as a sustainable and convenient mode of transportation. Private companies or local governments operate bike sharing systems, and the bikes are typically located at strategically placed docks or stations throughout a city. Users can rent a bike for a short period and return it to any station when they’re done. Bike sharing is an affordable and environmentally friendly alternative to traditional modes of transportation, and it has become a popular option for commuting and leisure activities.
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Competitive Landscape with Key Players:
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.)
- Uber Technologies Inc
Bike Sharing Market Growth, Demand and Development:
The global market is primarily driven by the increasing demand for sustainable and convenient modes of transportation. In line with this, the rapid adoption of bike sharing systems to reduce traffic congestion, improve air quality, and promote a healthy lifestyle is significantly contributing to the market growth. Furthermore, the rising popularity of dockless bike sharing systems due to their greater flexibility and convenience is catalyzing the market. Apart from this, the growing partnership between the bike sharing companies and mobility as a service provider with the escalating adoption of electric bikes is anticipated to propel the market growth. Moreover, the rising government initiatives for the development of reliable bike-sharing infrastructure are creating a positive outlook for the market. Besides, several governments worldwide are offering subsidies to service vendors for developing stations and expanding their reach to many commuters. This, in turn, is expected to favorably impact the market. Additionally, the increasing concerns regarding environmental pollution are driving the uptake of environment-friendly transport solutions, supplementing industry growth.
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Key Market Segmentation:
Breakup by Bike Type:
- Traditional and Convectional
Breakup by Sharing System:
Breakup by Application:
- Short Term
- Long Term
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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