NEW YORK, Dec. 04, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, valued at $99.8 million in 2018, the global scooter sharing market is projected to generate revenue of $553.0 million by 2025, growing at a CAGR of 24.4% during 2019–2025. Based on trip, the one-way category dominated the market in 2018. Whereas, the round category is expected to attain faster growth during the forecast period.
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Increasing investment is a key trend being observed in the scooter sharing market. The industry is receiving investments of substantial amounts from top investors in the world. For instance, in 2018, Cityscoot, one of the leading scooter sharing service providers in Europe, received an investment of $50 million (EUR 42.4 million) from a group of investors led by Inventure Partners and RATP Capital Innovation. In the same year, Barcelona-based electric scooter sharing company, Yugo, raised a funding of $475 thousand (EUR 402 thousand). Moreover, in 2017, Gogoro, a Taiwan-based electric scooter manufacturing company, raised a funding of $300 million to invest in its scooter sharing service, GoShare.
Rising population in major cities across the world has led to an increased number of daily commuters, thereby creating significant road congestion, especially in peak hours. To minimize this problem, countries are looking for new alternatives. This scenario acts as a major driver for the scooter sharing market, globally. Governments and scooter sharing service providers encourage daily travelers to use scooter sharing services. This helps in reducing traffic congestion on roads, since scooters are compact in size and require less space on the roads and parking spaces.
Browse report overview with detailed TOC on "Scooter Sharing Market Research Report: By Trip (One-way, Round), Geographical Outlook (U.S., Canada, Italy, Germany, Netherlands, Spain, France, Austria, Portugal, Poland, Belgium, Switzerland, China, India, Taiwan,Mexico, Brazil) - Global Industry Opportunity Analysis and Growth Forecast to 2025" at: https://www.psmarketresearch.com/market-analysis/scooter-sharing-market
Among all regions, Europe generated the largest revenue in the scooter sharing market in 2018. Increasing urban road congestion and emission of greenhouse gases are major concerns in several European countries. Rising population in major cities in the region leads to an increased number of daily commuters, creating significant road congestion, especially in peak hours. Countries in the region are introducing new alternatives for transportation, such as scooter sharing, so as to combat these problems. Spain, France, and Germany were the major countries in the region with significant number of scooters available for sharing services.
However, during the forecast period, APAC is estimated to register the fastest growth rate, owing to increasing deployment of scooter sharing vehicles in India and Taiwan. In 2019, India became the largest scooter sharing fleet operator across the world. By the end of 2019, the country holds in between 15,000–20,000 scooters in their sharing fleet. This was due to the large investments in two major players, Vogo and Bounce. The two companies entered the market more recently, having scaled most of its fleet in 2019. Both countries have an estimated 7,000 sharing scooters each.
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The scooter sharing market is at its growing phase, with the presence of major players, such as Cityscoot SAS (Cityscoot), COUP Mobility GmbH (COUP), Cooltra Motosharing S.L.U. (eCooltra), and Weimo Technology Co. Ltd. (WeMo).
In recent years, the key players in the global scooter sharing market have taken several strategic measures, such as partnerships, service launches, and investments, to gain a competitive edge in the industry. For instance, in September 2019, MiMoto, in collaboration with IrenGo, launched its scooter sharing services in Genoa, Italy. Furthermore, in the same year, WeMo Scooter launched its scooter sharing service in Taiwan with a fleet of 200 scooters.
Some other significant players operating in the scooter sharing market include Electric Mobility Concepts GmbH (emmy), Sharing Muving S.L.U. (Muving), Felyx Sharing B.V., YUGO Urban Mobility SL (YEGO), Econduce SAPI de CV, MiMoto Smart Mobility Srl, Scoot Rides Inc. (Scoot), Wicked Ride Adventure Services Pvt. Ltd. (Bounce), Vogo Automotive Pvt. Ltd. (Vogo), and Green Electricity Sp. z o.o. (blinkee.city).
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Kick Scooter Sharing Market
North America is the largest kick scooter sharing market, globally, contributing the majority of the worldwide revenue in 2018. The market in the region came into being in late 2017, with the introduction of the services by Bird, Lime, and Spin in the U.S. Moreover, in late 2017, different kick scooter sharing companies began to flood the U.S., in an effort to occupy a significant market share before saturation. By the end of 2018, around 85,000 kick scooters were available for sharing purposes in numerous U.S. cities, where these have almost replaced the bike sharing services, earlier predominant.
India Two-Wheeler Sharing Market
In April 2019, a motorcycle/scooter e-hailing service provider, Rapido raised around $11.2 million in its Series A funding round, which was led by venture capital firm, Nexus Venture Partners. Rapido also declared that the amount will be used for the operational expansion of the company into new cities in India.
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