Bike-sharing service market is anticipated to grow at a CAGR of 14.2% during the forecast period (2023–2030). Bike sharing is a shared transport service in which conventional bikes or E-bikes are made available for shared use to individuals on a short-term basis for a very low price or free. Users may pick up bicycles around the city from multiple docked or dock-less stations and return them at another same system. These services offer both locals and tourists an easy, low-cost, efficient means of transportation around cities. Bike sharing systems are often facilitated through mobile applications or membership cards, enabling users to locate and unlock bikes, track their usage, and make payments. The bike sharing services market has witnessed a significant growth over the past few years owing to the increasing urbanization, a focus on sustainable transportation options, and the popularity of shared mobility services.

Furthermore, the growing interest in physical activity along with the increased health consciousness has boosted demand for bicycle sharing programmes. Cycling encourages exercise and assists in preventing inactive behaviours, improving fitness and health. Hence, the market players are also focusing on introducing new programme and initiatives to cater to the rising demand for bike-sharing services. For instance, in March 2023, Bike Share Pittsburgh launched the program’s 2023 plans at POGOH’s inaugural Community Coalition Annual Meeting. Through this, POGOH introduced around 220 new bikes and 22 new dock stations along with updated pricing policy. 

Segmental Outlook 

The global bike-sharing market is segmented by type and sharing system. Based on the type, the market is sub-segmented into traditional and conventional, and e-bikes. Furthermore, based on the sharing system, the market is bifurcated into docked and dockless. Among the type, the e-bikes sub-segment is anticipated to hold a considerable share of the market owing to the rise in manufacturing and demand for e-bikes across the globe. Progressively, bikes are becoming more dependable, eco-friendly, and less expensive. These bikes may be used on tough terrain, thus, are commonly used for a variety of recreational activities.

The Docked Sub-Segment is Anticipated to Hold a Considerable Share of the Global Bike-Sharing Service Market

Among the sharing systems, the docked sub-segment is expected to hold a considerable share of the global bike-sharing market. The segmental growth is attributed to the growing demand for flexibility and streamlined infrastructure across the region. Bike stations and docks for an exceptional experience, it is crucial to strategically arrange bike stations and docks. To promote utilization and facilitate last-mile connection, stations are required to be conveniently situated close to major destinations such as residential communities, commercial hubs, and other public transportation hubs. Thus, there is a considerable rise in the establishment of new docked stations for renting bikes globally. For instance, in Feburary 2021, BCycle launched the 3.0 docks, a new generation of dock-based bike sharing. The 3.0 docks combine the flexibility and streamlined infrastructure that communities and riders desire with qualities. 

Regional Outlook

The global bike-sharing market is further segmented based on geography, including North America (the US and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the European regional market is anticipated to hold a prominent share of the market across the globe. The popularity of the bicycle-sharing technique or services has been grown owing to the improved transportation systems and tougher pollution restrictions.

Global Bike-Sharing Market Growth by Region 2023-2030

The European Region is Expected to Grow at a Significant CAGR in the Global Bike-Sharing Market

Among all regions, Europe is anticipated to grow at a considerable CAGR over the forecast period. Nowadays, manufactures bike-sharing schemes have become more user-friendly and accessible owing to the incorporation of innovative technologies such as mobile apps for bike bookings and GPS tracking. Thus, the primary factor contributing to the regional market growth includes the growing demand and introduction of various innovative technologies. Several key market players serving the European region are focusing on introducing technologically-integrated bike-sharing services. For instance, in March 2023, Nextbike launched several bike-share schemes in Spain and Poland which includes around 3,000 brand-new bicycles, out of which 300 bicycles are electronic. These E-bikes are equipped with electronic frame locks with GPS-locatable locations as part of the Veturilo 3.0 bike-share program in Warsaw, Poland..

Market Players Outlook

The major companies serving the bike-sharing market include Anywheel Pte. Ltd., BIXI Montreal, JCDecaux, Lime, Lyft, Inc., and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2023, MYBYK launched a rental programme for offering bike services in 10 South Mumbai areas that will possess 100 bicycles to encourage last-mile connectivity. The rental programme is introduced in collaboration with the Mumbai Municipal Corporation (MMC) aiming frequently travelling locals, office workers, and visitors to locations such as Marine Drive and the Gateway of India. The service is provided through the MYBYK app, with rates starting at $0.86/day and going up to $9.1/month. Additionally, the company is also intending to introduce E-bikes across the region.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bike-sharing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.