Bicycle Sharing Market: Introduction
Bicycle sharing is a service or public bicycle sharing scheme in which bikes are available for shared use for a short time or a monthly basis to an individual. The bicycle sharing system allows the people to rent a bike from a dock and return it at another dock of the same system. Docks are special bicycle racks that lock the bicycles and unlock it using Bluetooth enabled devices such as smartphones. In recent times, dockless bicycle sharing system is gaining traction in the market, in this system, all bicycles are GPS enabled and can be tracked by the bicycle sharing operators. In a dockless bicycle sharing system, user can borrow or return the bicycles at any legal public parking instead of dock station across the same city with the help of smartphone applications. These dockless system reduces the pressure on existing road or footpath infrastructure and reduces the usage of motor personal vehicles.
Bicycle Sharing Market: Dynamics
Increasing the need for urban transportation has resulted in an increasing number of vehicles including passenger cars and two-wheelers which led to heavy traffic congestion as well as noise pollution. To reduce the above mention issues, the government of many countries such as India, China, and Germany are supporting bicycle sharing systems through developing road infrastructure which is particularly utilized for riding bicycles. Moreover, growing awareness among the population about the adoption of bicycles for short distance commute is also another factor that is estimated to boost the growth of bicycle sharing market.
Many bicycle sharing companies are focusing on the expansion of its electric bicycle fleet to capture substantial share in the bicycle sharing market. Many developing nations such as China, and India, electric bicycles are gaining traction in the market due to its ease of operation as well as more economical as compared to conventional or electric two-wheelers.
With the advancement in technologies, such as proliferation in GPS, prepaid payment options, IoT and reduced cost of tracking and locking systems for bicycles has led to the increase in the number of sharing bicycle fleet across the globe. Additionally, with the introduction of dockless bicycle sharing system, there is significant increase in the number of sharing bicycle users in the developing and developed nations as these system saves the times to park the bicycles and also encourage the people to travel through bicycle for short-distance commute.
Bicycle Sharing Market: Segmentation
The global Bicycle Sharing market can be segmented on the basis of bicycle type and platform
On the basis of bicycle type, global Bicycle Sharing market can be segmented as:
On the basis of platform, global Bicycle Sharing market can be segmented as:
Bicycle Sharing Market: Regional Outlook
In the Bicycle sharing market, Asia Pacific is estimated to hold the dominant share in the global market due to the high number of sharing bicycle fleet size and also increase in the number of sharing bicycle service providers across the region. In the Asia Pacific, China is driving the growth of the market as well as hold prominent share. With the introduction of sharing electric bicycles, companies such as Mobike and Ofo plan to expand its services across the Asian countries as well as North America and Europe. In North America, many service providers are focusing on increasing the electric bicycle fleet to gain a competitive advantage. For Instance, in 2018, Jump Bike has increased its fleet of electric bicycles by nearly 250 units in San Francisco. In Europe, working professionals are using the sharing bicycle to go to their offices to escape traffic congestion as well as to reduce pollution. These factors are expected to glare the growth of bicycle sharing market over the forecast period.
Bicycle Sharing Market: Key Participants
Some of the key participants identified in the global Bicycle Sharing market are:
The Bicycle Sharing research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Bicycle Sharing research report provides analysis and information according to market segments such as geographies, application and industry.
The Bicycle Sharing report covers exhaustive analysis on:
Regional analysis includes:
The Bicycle Sharing market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Bicycle Sharing market report also maps the qualitative impact of various market factors on market segments and geographies.