Bike-sharing Service Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

The bike-sharing service is rapidly gaining momentum among youths and the working-class population. Such services offer transport flexibility, reduced vehicular emissions, and health benefits, and these factors are seen to boost consumer inclination towards such services. Easy accessibility and affordability are further encouraging individuals to use these services. The bike-sharing service market seems highly lucrative, and the integration of advanced technologies such as location sharing and digital payments would continue to expand the demand in the future.

MARKET SCOPE

The "Global Bike-sharing Service Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the bike-sharing service market with detailed market segmentation by bike type, sharing system, and geography. The report provides key statistics on the market status of the leading bike-sharing service market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   On the basis of bike type, the market is segmented as e-bikes, conventional bikes.
•   Based on sharing system, the market is segmented as dockless, docked.

MARKET DYNAMICS

Drivers:

•   Rapid urbanization globally
•   Easy affordability & availability of bike sharing services
•   Sharing systems contribute towards reducing carbon footprint

Restraints:

•   An increase in passenger vehicles.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The bike-sharing service market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis, highlighting the factors affecting the bike-sharing service market in these regions

IMPACT OF COVID-19 ON BIKE-SHARING SERVICE MARKET

The 2021 novel coronavirus, also known as COVID-19, has created tremors in several industries. The tremendous growth in the spread of the virus has urged governments across the globe to impose strict restrictions on the movement of humans and vehicles. The lockdown imposition has resulted in lesser production of goods and commodities. The bike-sharing service market players also experienced a slowdown in the volumes attributing to the fact that impositions were made on travels and social gatherings. This has had a negative impact on the market. The travel bans, trade bans, and border lockdowns to combat and contain the outbreak have negatively impacted the penetration of sharing service. To curb the spread of COVID-19 pandemic, the government's imposiiton on social gathering has adversely impacted the market growth.

MARKET PLAYERS

The report covers key developments in the bike-sharing service market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from bike-sharing service market are anticipated to lucrative growth opportunities in the future with the rising demand for bike-sharing service in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bike-sharing service market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Bird Rides, Inc.
•   Lime (Neutron Holdings, Inc.)
•   Lyft, Inc.
•   Mobike
•   Mobycy (BycyShare Technologies Pvt. Ltd.)
•   ofo Inc.
•   Spin (Ford Smart Mobility LLC)
•   Vélib' Métropole
•   Youon (Yonganxing Technology Co., Ltd.)
•   Yulu Bikes Pvt Ltd

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Bike-sharing Service Report Scope