Global Bike Sharing Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Bike sharing, also known as bicycle sharing, is a system that allows individuals to rent bicycles for short-term use. Bike sharing provides an accessible and convenient transportation option that promotes sustainable mobility, reduces congestion, and supports healthier and more active communities.

Sizing and Forecast
The bike sharing market size has grown strongly in recent years. It will grow from $3.82 billion in 2023 to $4.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%.  The  growth in the historic period can be attributed to urbanization and population density, environmental awareness, government initiatives and policies, infrastructure development, health and wellness trends.

The bike sharing market size is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.  The growth in the forecast period can be attributed to electric bike integration, micro-mobility solutions, data analytics for optimization, smart city integration, subscription models and loyalty programs. Major trends in the forecast period include technology advancements, collaboration with public transport, autonomous bike technologies, customization and personalization, climate-responsive infrastructure.

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Segmentation & Regional Insights
The bike sharing market covered in this report is segmented –
1) By Bike Type: E-Bike, Conventional Bikes
2) By Sharing: Docked, Dock Less
3) By Duration: Short Term, Long Term
4) By Model Type: Free-Floating, Peer-To-Peer (P2P), Station Based

Asia-Pacific was the largest region in the bike sharing market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the bike sharing  market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rise in demand for e-bikes is expected to propel the growth of the bike-sharing market going forward. An Electric bike is equipped with an integrated electric motor and battery system. E-bikes play a significant role in bike-sharing programs by increasing the accessibility of bike-sharing systems, improving climbing capability, and enhancing the overall experience for users. For instance, in August 2022, according to the Bureau of Transportation Statistics (BTS), a U.S. federal agency, the number of available e-scooter systems increased to 300 in 2022, up from 281 in 2021. Additionally, the number of cities with e-scooter systems grew to 158 in 2022, compared to 136 in 2021. Therefore, the rise in demand for e-bikes is driving the growth of the bike-sharing market going forward.

Key Industry Players
Major companies operating in the bike sharing  market report are Uber Technologies Inc., Deutsche Bahn AG, Meituan Inc., DiDi Bike, Lyft Inc., JCDecaux Group, Hello Inc., Neutron Holdings Inc., TIER Mobility SE, Bird Rides Inc., Youon Technology Co. Ltd., Tembici, Yulu Bikes Pvt. Ltd., CycleHop LLC, Bond Mobility AG, Blue Bikes, Nextbike GmbH, BIXI Montreal, Swiftmile Inc., Zagster, Donkey Republic, PBSC Urban Solutions, Urbo Solutions, Ofo, Divvy Bikes, Flick.Tech Ltd., SG Bike Pte Ltd, Anywheel Pte Ltd., Beijing Xiaoju Technology Co. Ltd., Santander Cycles.

The bike sharing market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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