Bike Sharing Market Future Demand and Business Opportunities 2022-2027

IMARC Group’s latest report, titled “Bike Sharing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global bike sharing market reached a value of US$ 3.28 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.49 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.

Bike sharing refers to a shared transportation service in which conventional bikes are available for shared use to customers on a short-term basis in exchange for a price. This scheme allows individuals to rent a bike from a dock and return it at another port of the same system. It is an environmentally friendly solution that enables the rider to travel without fuel consumption, thereby assisting in reducing carbon dioxide (CO2) emissions. It facilitates commuters to pick bikes as per their need at convenient times and locations. It is a cost-effective and convenient mode of transportation that aids in reducing road congestion while offering several health benefits and improving overall fitness.

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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.)
• Smoove 
• Uber Technologies Inc

Bike Sharing Market Growth and Demand:

One of the key factors driving the global market is the increasing traffic congestion on roads. Moreover, the rising concerns related to the increasing pollution levels are encouraging the masses to adopt bike sharing solutions, which is fuelling the market. Furthermore, the growing investments in improving the overall bike-sharing infrastructure, coupled with the rising initiatives towards smart city development, are impacting the market growth favorably. Besides this, the introduction of the Internet of Things (IoT) and global positioning system (GPS) and the advent of mobile payment applications are significantly supporting the demand for bike sharing across the globe. Other factors, including increasing consumer awareness regarding bike sharing services and rising venture capital investments, are also further anticipating the market.

 Key Market Segmentation:

Breakup by Bike Type:

• Traditional and Convectional 
• E-Bikes
   

Breakup by Sharing System:

• Docked
• Dock-Less
   

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 (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape