Bike Sharing Market Poised for Explosive Growth: Key Drivers and Innovations Unveiled by 2032

The global bike sharing market is driven by several factors, such as a rise in venture capital investments

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 17, 2024 /EINPresswire.com/ -- The 𝐁𝐢𝐤𝐞 𝐒𝐡𝐚𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario. Rise in venture capital and strategic investments and surge in inclusion of e-bikes in the sharing fleet drive the growth of the global bike sharing market. However, high initial investment cost and increase in bike vandalism and theft restrain the growth of the market. Contrarily, technological advancements in bike sharing system and rising government initiative for the development of bike sharing infrastructure would provide lucrative opportunities in the next few years. The global bike sharing market size was valued at $6.6 billion in 2022, and is projected to reach $18.4 billion by 2032, growing at a CAGR of 11% from 2023 to 2032.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 196 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A11309

Based on bike type, the traditional/conventional segment accounted for the highest market share, accounting for nearly three-fourths of the global bike sharing market in 2019, and is expected to maintain its lead position during the forecast period. However, the e-bikes segment is estimated to grow at the highest CAGR of 17.8% from 2020 to 2027.

The factors such as rise in venture capital investments and increase in inclusion of e-bikes in the sharing fleet are anticipated to drive market growth. However, high initial investment cost and rise in bike vandalism & theft are expected to hinder market growth. Further, technological advancements in bike sharing system and increase in government initiatives for the development of bike-sharing infrastructure are some of the factors expected to offer lucrative opportunities for the market growth during the forecast period. For instance, in 2018, Chinese Municipal governments subsidized the Public Bike Sharing Program (PBSP) development to encourage non-motorized transport and offer convenient, flexible, and low-cost mobility options. These services are majorly used in urban areas due to the rise in traffic congestion and increased fuel prices. Similarly, in October 2022, Cairo launched Cairo Bike project with the aim of reducing people's reliance on cars. The initial phase of the project involves the deployment of 250 GPS-tracked bicycles at 26 solar-powered docking stations. The entire project consists of two phases, which will ultimately provide a fleet of 500 bicycles distributed across 45 stations throughout Cairo..

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/bike-sharing-market/purchase-options

The bike sharing market refers to the industry and ecosystem that revolves around providing bicycles for shared use to the public. Bike sharing allows individuals to rent bicycles for a short period, typically on an hourly or daily basis, and return them to designated docking stations or parking areas. The bike sharing industry has gained significant momentum in recent years due to various factors. These include increasing urbanization, a focus on sustainable transportation options, rising environmental concerns, and the need for efficient and affordable last-mile connectivity in transportation networks. According to the study based in China found that dockless bike sharing replaced about 12,800 km of previously motorized trips in total, and 14% from taxis or ride-hailing services, 11% switched from private cars, and 64% from motorcycles. The shift from motor vehicles to dockless bike sharing systems has had a significant impact on air quality, resulting in a reduction of approximately 4.8 million tons of carbon emissions annually. Bike sharing offers an alternative mode of transportation that is convenient, cost-effective, and environmentally friendly.

Based on region, Asia-Pacific contributed to the highest share in 2019, accounting for more than half of the total share, and is expected to maintain its leadership status by 2027. However, the North America segment is projected to maintain the highest CAGR of 15.8% during the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A11309

By bike type, the market is categorized into traditional/convectional and e-bike. The traditional/convection segment garnered the highest market share in 2022 and is projected to lead the market within the forecast timeframe. By sharing system, the bike sharing market is categorized as docked and dock-less. Among these segments docked segment captured the significant market share as compared to other segments. The Asia-Pacific countries will have a higher market share across the Asia-Pacific region due to the rapid adoption rate of bike sharing service among customers in countries such as Vietnam, India, China, and Singapore. In addition, the emergence of new players entering the market with innovative propositions such as dock-less bikes anticipated to facilitate the bike-sharing market growth in APAC during the forecast period and region and Europe is expected to growth with the substantial growth rate during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A11309

Based on sharing system, the docked segment held the largest market share in 2019, contributing to nearly three-fifths of the total share, and is projected to maintain its dominance in terms of revenue during the forecast period. In addition, the segment is also projected to witness the fastest CAGR of 15.4% from 2020 to 2027.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐋𝐲𝐟𝐭, 𝐈𝐧𝐜.,
𝐔𝐛𝐞𝐫 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐈𝐧𝐜.,
𝐌𝐎𝐁𝐈𝐊𝐄,
𝐁𝐢𝐫𝐝 𝐑𝐢𝐝𝐞𝐬, 𝐈𝐧𝐜.,
𝐁𝐎𝐍𝐃 𝐌𝐎𝐁𝐈𝐋𝐈𝐓𝐘 (𝐄𝐔𝐑𝐎𝐏𝐄) 𝐀𝐆,
𝐁𝐈𝐗𝐈, 𝐋𝐢𝐦𝐞,
𝐒𝐏𝐈𝐍,
𝐀𝐧𝐲𝐰𝐡𝐞𝐞𝐥 𝐏𝐭𝐞. 𝐋𝐭𝐝.,
𝐓𝐈𝐄𝐑 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐒𝐄

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By bike type, the traditional/convectional segment leads the market during the forecast period.

By sharing system, the docked segment leads the market during the forecast period.

Europe is anticipated to exhibit the highest CAGR during the forecast period.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Dirt Bike Market - https://www.alliedmarketresearch.com/dirt-bike-market-A08912

Motorcycle Market - https://www.alliedmarketresearch.com/motorcycle-market-A31857

Solar Boat Market - https://www.alliedmarketresearch.com/solar-boat-market-A10180

David Correa
Allied Market Research
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