Bike Sharing Market Anticipated To Witness Significant Growth By 2025

Bike Sharing Market to grow at 15% CAGR till 2025:
Global Market Insights Inc.
Bike Sharing Market driven by Increasing environmental & health concerns demand in the
world to surpass USD 10 billion by 2025 and will witness 15% CAGR during the forecast
timespan.
Rising environmental concerns along with the implementation of government regulation will
outline bike sharing market trends over the forecast period. Rapid modernization and
urbanization has caused major traffic problems that has been associated with safety risks,
air pollution, economic competitiveness, loss in relation with accessibility and sustainable
growth.
Bike sharing schemes offer transport flexibility, reduced congestion as well as fuel
congestion and reduction in harmful emissions
Bike Sharing Market
Increasing health consciousness among people owing to the rise in health conditions
as a result of living a sedentary lifestyle will contribute towards expanding bike
sharing industry share. Bikes play a major role in leading a healthy lifestyle and
exhibit some key health benefits. The benefits of biking comprises flexible joints,
stronger bones, lower body fat levels, improved cardiovascular fitness as well as
reduced anxiety and stress levels.
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Rapid advancements in technology has led service providers to install appropriate
navigations systems in bicycles which helps people find their destination. The
convenience delivered by the improving technology will foster bike sharing market
size. Copenhagen had launched an efficient and innovative bike sharing program a
few years ago that was offering GPS-enabled Android tablets with the bikes.
The new equipment was to help commuters schedule their travel by train or bike and
ensure that they are aware of their new pick up connection.
Key venture investments have been proliferating the growth of bike sharing market
because of a large number of capitalists steadily investing in bike sharing start-ups in
order to help them grow. Funding has recently taken off around the world and has
been considered ideal for the first and the last mile transport. This has resulted in
investors placing their bets on bike sharing companies. Companies in China that
have already established their presence in the market have attracted significant
investments.
Ofo, for instance, became the first bike sharing unicorn in China and scaled globally,
showing clear potential to secure additional investments. The company was valued
at $3 billion and has raised more than USD 2.15 billion in its series of funding by
companies like Ant Financial and Alibaba. In the follow-on of Series E round, Ofo
raised USD 586 million in March 2018 in order to fund its global expansion.
Hellobike, the third largest bike sharing platform in China had also raised an
investment of USD 321 million from Ant Financial and has been trailing behind
companies like Ofo and Mobike.
E-bike has been gaining a momentum due to an increase in the adoption of smart
bikes. Key merits attached to this service is that it permits dockless operations which
entails a light infrastructure at a much lower cost. Consumer preference towards E-
bikes have been surging due to its cost effective features coupled with solutions that
are eco-friendly, driving the expansion of bike-sharing market size.
New York bike sharing market, by model, 2018 & 2025 (USD Million)
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PBSC Urban Solutions along with BIXI Montreal recently teamed up to offer next-gen
E-FIT bikes that will seamlessly fit into the public bike systems. The bikes are
lightweight and offer three-speeds for maximum rideability. After the combination
with PBSC’s E-station, the integrated batteries start charging right after the bikes are
docked which has increased daily trips over 15%.
Free Floating bike sharing segment will witness a considerable growth over the
analysis period owing to its affordability. Dockless bike share will reduce the cost of
buildings or stations used for bike parking which in turn will help increase its
deployment. Consumer inclination towards this segment will increase due to the
convenience of parking bikes anywhere at their stop. The navigation system installed
in these bikes help find their locations and can be unlocked through bike sharing
apps.
The Ministry of Transport says that China has nearly 70 companies that have
deployed over 23 million bicycles nationwide and have attracted more than 400
million users. With a revenue of $35 billion, this industry has helped create over
390,000 jobs. It has also been estimated that dockless bike sharing in China has
helped reduce 400 million hours of time spent in the traffic. This has established a
low-carbon network for transport and lessened the pressure for urban transport.
Browse key industry insights spread across 200 pages with 257 market data tables &
23 figures & charts from the report, “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, 2015 – 2025” in detail along with the table of contents:
http://bit.ly/2kdLicZ
Major companies underscoring global bike sharing market forecast including Neutron
Holdings Inc., Tembici, Divvy Bikes, Capital Bikeshare, Lime, Youon Bikes and
Mobike. The players have consistently involved in gathering investments and
collaborating with firms and governments for the expansion of their business.
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Industry Coverage
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