Bike-Sharing Market is estimated to be US$ 13.40 billion by 2032 with a CAGR of 14.2% during the forecast period

 

Bike-Sharing Market accounted for US$ 3.6 Billion in 2022 and is estimated to be US$ 13.40 Billion by 2032 and is anticipated to register a CAGR of 14.2%. Bike sharing is the provision of bicycles for shared use through a self-service rental scheme in which people can rent bicycles for short-term use. Bike sharing is a shared transportation service that enables individuals to rent or borrow conventional or electric bikes on a short-term basis. It is environmentally friendly and, as a result, allows the rider to travel without using fuel, thereby helping to reduce carbon dioxide (CO2) emissions. It reduces road congestion, increases financial savings and offers health benefits such as preventing depression and anxiety and improving a person's overall fitness. Bike sharing is an innovative urban transportation option that gives individuals instant access to a bicycle to travel around the city. In recent years, bike sharing systems have emerged as a cost-effective and environmentally friendly alternative to public transport in many cities around the world. The market is driven by the growing demand for bike sharing due to its flexibility, accessibility and affordability. The adoption of bike sharing is increasing due to growing environmental concerns. The growing needs of urban transport has led to an increase in the number of vehicles used on roads resulting in heavy traffic congestion and pollution.

The report " Global Bike-Sharing Market, By Bike (Traditional Bike and E-Bike), By Sharing System (Docked and Dockless), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2032’’

Key Highlights:

·         In September 2022, Selle Royal launches new eBike specific ‘ON’ saddle range. The ON saddle is designed to overcome the specific challenges of riding and handling modern ebikes. An evolution of Selle Royale's award-winning eZone saddle, the ON is designed to provide eBike riders with optimal comfort and mobility, regardless of their preferred type or terrain. Likewise, the saddle design has been tailored to suit any e-bike the rider chooses.

·         In September 2022, put the training wheels back on Chandigarh tricity area’s public bike-sharing system. The growing population of the city has created a need for an efficient transport sharing system for its development, which the administration tried to fulfill through the cycle sharing system.

Analyst View:

These systems are known to offer huge benefits to users in the form of a healthy and efficient mode of transportation, as well as a cost-effective solution for cities to reduce CO2 emissions and traffic congestion, fueling the growth of the bike sharing market. Users can pick up bicycles from several docked or dockless stations around the city and return them to another similar system. The market is driven by the growing demand for bike sharing due to its flexibility, accessibility and affordability. The adoption of bike sharing is increasing due to growing environmental concerns. The growing needs of urban transport has led to an increase in the number of vehicles used on roads resulting in heavy traffic congestion and pollution.

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Key Market Insights from the report:

Global Bike-Sharing Market accounted for US$ 3.6 Billion in 2022 and is estimated to be US$ 13.40 Billion by 2032 and is anticipated to register a CAGR of 14.2%. The Global Bike-Sharing Market is segmented based on bike, bike sharing and Region.

·         Based on Bike, Global Bike-Sharing Market is segmented into Traditional Bike and E-Bike

·         Based on Sharing System, Global Bike-Sharing Market is segmented into Docked and Dockless.

·         By Region, the Global Bike-Sharing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Bike-Sharing Market:

The prominent players operating in the Global Bike-Sharing Market include JUMP Bikes, Citi Bike, Didi Chuxing Technology Co., Neutron Holdings Inc., Lyft Inc., Bluegogo, Uber Technologies Inc., Bird Rides, Inc., JC decaux Group, Hellobike, Youon Bikes, Meituan Bikes, Anywheel Pte Ltd., Lime, Nextbike GmbH.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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