Bike-Sharing Service Market Will Generate Record Revenue by 2029

The global bike-sharing service market is anticipated to grow at a CAGR of 14.2% during the forecast period (2023-2030). The market growth is attributed to the growing demand for changing mobility patterns across the Globe. Bike-sharing services have expanded significantly as a result of the focus on multipurpose mobility and the trend towards shared mobility. Individuals are increasingly inclined to use several forms of transportation for their regular transportation costs, such as biking, public transportation, and walking. According to the National Library of Medicine (NLM), in recent years, bike-sharing programmes have expanded quickly in significant cities all around the globe. For instance, in January 2023, Chandigarh launched the 3rd stage of the Public Bicycle Sharing Project on January 21. It has subsequently opened and started operating with the introduction of around 155 docking stations and 1,250 bicycles. Chandigarh Smart City Ltd. started phases I and II of the initiative in 2021 and 2022, putting 1,250 bicycles at the disposal of the general population. For this, SmartBike Mobility has been hired. Phase IV is anticipated to by July 2023 Further, in December 2022, Belaqgavi City (South) officially launched a public bicycle sharing (PBS) project under Belagavi Smart City Limited (BSCL), a P3 venture. The service is being offered in the city by Yaana Bikes. By paying a small fee, users of the PBS system can rent bicycles from docking stations placed at 20 locations throughout the city.

Currently, it contains bike-sharing programmes in 1,590 cities throughout 92 countries, with the majority of them being found in China, North America, and Europe. They often take the form of docked bike-sharing, where users must pick up and return their bikes to designated docking stations; dockless bike-sharing, where users are free to pick up and drop off their bikes anywhere within the service area; or a hybrid of the two. Cycling offers a wide range of advantages over traditional motorised means of transportation, including driving and public transportation, including the promotion of physical health, reduction of carbon footprint, reduction of traffic congestion, and increased urban connectedness and accessibility. Additionally, shared bicycling offers easy access to transportation options tailored to individual requirements without owning or transport a bike, such as shared mobility modeOne of the shared micro mobility choices that is expanding the fastest is bike sharing, that is already a vital component of most cities' urban transportation systems.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

· By Type

· By Sharing System

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape- includes include Anywheel Pte. Ltd., BIXI Montreal, JCDecaux, Lime, Lyft, Inc., and others.

Bike-Sharing Service Market Report Segment

By Type

· Traditional and Conventional

· E-Bikes

By Sharing System

· Docked

· Dock-less

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Bike-Sharing Service Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

· Anywheel Pte. Ltd.

· BIXI Montreal

· JCDecaux

· Lime

· Lyft, Inc.

· Mobike

· Tier Mobility SE (Tier Mobility SE)

· PitchBook Data, Inc.

· SG Bike Pte Ltd.

· Skinny Labs Inc.

· Tembici

· Uber B.V. and Uber Technologies Inc.

· X-Bike B.V.

· YOUON TECHNOLOTY CO.,LTD.

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