New York – United States
Data Bridge Market Research analyses that the Bike and Scooter Rental Market which was USD 2.44 billion in 2022, is expected to reach USD 8.08 billion by 2030, growing at a CAGR of 16.15% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
The essential factors contributing to the growth of the global bike and scooter rental market in the forecast period of 2023-2030 include growing acceptance of people for micro-mobility services as a cost-effective and convenient way of transportation. In addition, the development of sustainable modes of transportation is becoming a necessity. Furthermore, the increasing focus of government on reducing traffic congestion, technological advancements, the widely spreading trend of automation, high adoption of electrically powered vehicles is another major element contributing to the market’s growth.
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Global Bike and Scooter Rental Market Dynamics
Drivers
- Rise in tourism to boost bike and scooter rental market
Tourism industry is significantly growing over the years, experiencing growth and becoming one of the fastest growing profitable economic segment all over the world. According to the data of World Tourism Organization, around1.5 billion international tourist arrivals were recorded in 2019, in world, the tourist are preferring rental bikes and scooters to visit different places. The increasing tourism is a major driver for economic growth in a number of countries and are further contributing for the growth of bike and scooter rental market during the forecast period of 2023 to 2030.
Opportunities
- Increasing inclusion e-bikes in the rental fleet
There is an increasing demand for e-bikes globally, as they are fast & flexible and has zero carbon emissions. As e-bikes are cost-effective & eco-friendly transport solutions, there is rising consumer inclination which is further expanding bike and scooter rental market. In addition, an e-bike is preferred more, as it better fulfils the requirement for higher speed in short-distance as compared to a pedal-operated bike and other vehicles. The features of e-bikes such as effortless driving higher speed, more convenience, are the major factors increasing the demand of e-bikes which further contributes in the bike and scooter rental market’s growth.
Some Of The Major Players Operating In The Global Bike And Scooter Rental Market Are:
- Lime (U.S.)
- Bird Rides, Inc (US)
- Ofo Inc. (China)
- TIER Mobility SE (Germany)
- CITYSCOOT Tous droits reserves (France)
- Uber Technologies Inc. (U.S.)
- Mobycy (India)
- Vogo Rental (India)
- Lyft, Inc. (U.S.)
- Zauba Technologies & Data Services Private Limited (India)
- Spin (U.S)
- Cooltra (Spain)
- Bolt Technology OU (Estonia)
- Yulu Bikes Pvt Ltd (India)
- YEGO Urban Mobility SL (Spain)
- Spinlister (U.S.)
- Zoomo (Sydney)
- Voi Technology AB (Sweden)
- emmy-sharing (Berlin)
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Market Segmentation of Bike and Scooter Rental Market:
Service
- Pay as You Go
- Subscription-Based
Propulsion
- Pedal
- Electric
- Gasoline
Operational Model
- Dock Less
- Station-Based
Vehicle
- Bike
- Scooter
- Others
Application
- Short Trip
- Less Than 5 km
- Medium-Distance
- 5 km to 15 km
- Long-Distance
- More Than 15 km
- Long-Distance Travel
Global Bike and Scooter Rental Market Regional Analysis/Insights
The countries covered in the Global bike and scooter rental market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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