Dublin, Sept. 16, 2019 (GLOBE NEWSWIRE) -- The "Bike and Scooter Rental Market by Service (Pay as you go and Subscription-based), Propulsion (Pedal, Electric, and Gasoline), Operational Model (Dockless and Station-based), Vehicle (Bike, Scooter), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
This report will help leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall bike and scooter rental market.
The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The Bike and Scooter Rental Market is Projected to Grow from USD 2.5 Billion in 2019 to Reach USD 10.1 Billion by 2027, at a CAGR of 18.9%
The shift in consumer preferences from owning to sharing and focus on promoting bike and scooter as an economical and convenient mode for transportation are significant factors for the growth of bike and scooter rental market globally.
Increasing demand for e-scooters and e-bikes, new infrastructure policies to reduce congestion, and the promotion of bike and scooter rental are factors expected to boost the market. However, vandalism and lack of proper customer service are the challenges in the growth of the bike and scooter rental market.
The bike and scooter rental market comprises major manufacturers like Lime (US), Jump (US), Bird (US), ofo (China), Grow Mobility (China), nextbike (Germany), Cityscoot (France), and COUP (Germany), among many others.
Increasing emphasis on promoting green, economical, and flexible commuting system are likely to propel the growth of the market during the forecast period
Increasing concerns over air pollution and global warming have forced governments of several countries to enforce strict emission policies and regulations. Consumers are aware of the adverse effects of increasing pollution in the cities. More people prefer to ride bikes, scooters, and mopeds. These vehicles are convenient, pollution-free, and flexible for the riders. Also, the introduction of micro mobility has driven the demand for bike and scooter rental market.
There are companies that are running bike and scooter rental services in Europe, North America, and Asia Pacific like Lime, JUMP, Mobike, Lyft, ofo, Yulu, Bounce, and Blinkee.city. These companies are focused on providing electric-powered micro mobility across the world, which has further fueled the overall growth of the market.
Asia Pacific is expected to register the fastest growth during the forecast period
Asia Pacific is expected to be the fastest growing bike and scooter rental market. Asia Pacific comprises rapidly emerging economies such as China and India, along with developed nations such as Japan, and is the largest market for automotive. China is home to the world's largest companies in the bike sharing market where ofo and Mobike (acquired by Meituan) hold about 90-95% of the overall Chinese market.
Moreover, companies such as Yulu and ONN Bikes have expanded their operations to India. The reason behind the rise of the bike and scooter rental market in China and India is the growing concerns over pollution and traffic congestion due to the increasing number of vehicles. Also, the increased use of smartphones and emerging government regulations on pollution are likely to render a positive impact. The demand for clean, safe, and smart mobility in China, India, and Japan would boost the growth of the bike and scooter rental market.
Europe is expected to be the second largest market during the forecast period
Europe is expected to be the second largest market during the forecast period. It is a major hub for several renowned bike and scooter rental service providers such as eCooltra, nextbike, Cityscoot, and COUP. The major driver for the growth of the European bike and scooter rental market is the vision of governments to ban gasoline and diesel vehicles in the future. This has led to an increase in demand for electric vehicles in the region, including e-bikes and e-scooters.
MyTaxi, one of the largest taxi apps in Europe owned by Daimler, has entered the electric scooter business by launching dockless scooters in Lisbon through an app called Hive. Moreover, many companies from the US have also entered the European market. All these opportunities pertaining to bike and scooter rentals would set a great potential in the European market.
The study covers the bike and scooter rental market across various segments. It aims at estimating the market size and future growth potential of this market across different segments such as service type, operational model, propulsion type, vehicle type, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Bike and Scooter Rental Market to Grow at A Significant Rate During the Forecast Period (2019-2027)
4.2 Asia Pacific to Lead the Global Market
4.3 Market, By Service and Operational Model
4.4 Market, By Service
4.5 Market, By Operational Model
4.6 Market, By Vehicle Type
4.7 Market, By Propulsion
5 Market Overview
5.2 Market Dynamics
126.96.36.199 Rise of Micromobility as a Budget-Friendly Mode of Transportation
188.8.131.52 Sustainable and Technologically Advanced Mobility
184.108.40.206 Lack of Supporting Infrastructure for Micromobility
220.127.116.11 Growing Traffic Congestion on Roads
18.104.22.168 Adoption of Electrically Powered Vehicles
22.214.171.124 Occurrence of Theft and Vandalism
6 Industry Trends
6.2 Technological Overview
6.2.1 Application-Based Rental System
6.2.2 Bike Rental Services and IoT
6.2.3 Regenerative Braking
6.3 Regulatory Overview
6.4 Macroindicator Analysis
6.4.1 Growth of Bike and Scooter Rental
6.4.2 GDP (USD Billion)
6.4.3 GNI Per Capita, Atlas Method (USD)
6.4.4 GDP Per Capita PPP (USD)
6.4.5 Macroindicators Influencing the Vehicle Access Control Market, Top 3 Countries
7 Bike and Scooter Rental Market, By Operational Model
7.1.1 Rising Demand for Economical and Convenient Mode of Commuting is Likely to Propel the Market
7.2 Research Methodology
7.3.1 Demand for User Flexibility and Expansion of Geographic Location Will Drive the Dockless Segment
7.4.1 Designated Parking Stations and Addressal of First and Last Mile Problem is Attributing to the Growth of Station-Based Segment
8 Bike and Scooter Rental Market, By Propulsion
8.1.1 Rising Micromobility to Reduce Traffic Congestion Will Continue to Drive the Market
8.2 Research Methodology
8.3.1 Ease of Availability and Accessibility of Gasoline Stations Will Keep the Demand for Gasoline Propulsion Steady
8.4.1 Demand for Alternate Sources of Energy to Limit Carbon Emissions Will Drive the Electric Propulsion Segment
8.5.1 Integration of Bike Sharing Apps and Ride Hailing Services Will Fuel the Growth of Pedal Bikes
9 Bike and Scooter Rental Market, By Service
9.1.1 Introduction of Rental Schemes and Increased Usage of Smartphones Will Boost Demand
9.2 Research Methodology
9.3 Pay as You Go
9.3.1 Accuracy of Ride Cost Will Drive Pay as You Go' Model Significantly
9.4.1 Availability of Vehicles as Per User Convenience is the Growth Driver of Subscription-Based Model
10 Bike and Scooter Rental Market, By Vehicle Type
10.1.1 Shift From Gasoline to Electric-Powered Two-Wheelers is Going to Fuel the Market
10.2 Research Methodology
10.3.1 Accessibility to Stations and Lesser Regulations Would Drive the Demand
10.4.1 Features Like Lightweight and Compact Design Will Boost the Scooter Rental Market
10.5.1 Long Distance Coverage and Emergence of Tourism Will Boost the Market
11 Bike and Scooter Rental Market, By Region
11.2 Asia Pacific
126.96.36.199 Increasing Adoption of E-Bikes and E-Scooters and Government Incentives to Encourage Emission-Free Commute Will Boost the Chinese Market
188.8.131.52 Government Initiatives Will Impact the Indian Market Positively
184.108.40.206 Rising Sales of Electric Bikes and Rental Regulations Will Significantly Drive the Japanese Market
11.2.4 South Korea
220.127.116.11 Growing Awareness Will Provide an Opportunity to Propel the Bike and Scooter Market in South Korea
11.2.5 Rest of Asia Pacific
18.104.22.168 Partnerships Between Companies to Provide Smarter Transportation Will Drive the Overall Market
22.214.171.124 High Demand for E-Bikes and E-Scooters Will Drive the French Market
126.96.36.199 Structural Lanes and Developed Infrastructure Supporting Micromobility Will Drive the German Market
188.8.131.52 Increasing Use of Micromobility for Tourism Will Boost the Italian Market
184.108.40.206 Increasing Investments in Bike and Scooter Rental Will Fuel the Russian Market
220.127.116.11 Presence of Major Bike and Scooter Rental Providers is Likely to Shape the UK Market
18.104.22.168 Increasing Focus on Low Speed Rental Vehicles is Driving the UK Market
22.214.171.124 Increasing Focus on Innovation is Driving the Dutch Market
11.3.8 Rest of Europe
11.4 North America
126.96.36.199 Infrastructure for Active Transportation Will Drive the Canadian Market
188.8.131.52 Implementation of Innovative Programs and Dedicated Lanes Will Drive the Mexican Market
184.108.40.206 Emergence of Maximum Ride Sharing Companies in US Will Drive the Market
11.5 Rest of the World (RoW)
220.127.116.11 Safety Concerns Will Impact the Brazilian Market Positively
11.5.2 South Africa
18.104.22.168 Growing Two-Wheeler Sales Will Impact the South African Market
11.5.3 Rest of RoW
22.214.171.124 Growing Vehicle Production May Impact the Market Positively
12 Competitive Landscape
12.2 Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 New Product Developments
12.3.2 Collaborations/Joint Ventures/Supply Contracts/Partnerships/Agreements
12.3.3 Expansions, 2017-2019
12.4 Competitive Leadership Mapping
12.4.1 Visionary Leaders
12.4.3 Dynamic Differentiators
12.4.4 Emerging Companies
12.5 Strength of Product Portfolio
12.6 Business Strategy Excellence
13 Company Profiles
13.14 Other Key Players
13.14.1 Asia Pacific
126.96.36.199 Onn Bikes
188.8.131.52 Voi Technology
13.14.3 North America
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