Global Bike and Scooter Rental Market By Operational Model (Dockless, Station-Based), Propulsion (Gasoline, Electric, Pedal), Service (Pay as You Go, Subscription-Based), Vehicle Type (Bike, Scooter, Others), Application (Short Trip, Long-Distance, Long-Distance Travel), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Bike and Scooter Rental Market
Global bike and scooter rental market is expected to rise to an estimated value of USD 7.06 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growth of demands for environment friendly and emission-free modes of transportation.
Market Definition: Global Bike and Scooter Rental Market
Bike and scooter rental is a modern vehicle hiring service involving availing micro-modes of mobility such as bikes, scooters, cycle and others on rent for a particular time period or distance. Users can identify the docks closest to them where they can rent out the vehicles and select the dock closest to their destination and submit their vehicles at that particular location. The service providers of this service are providing their services over mobile apps as well enhancing the ease for consumers.
- Increasing preferences of micro-mobility services as a mode of transportation due to their cost-effectiveness will drive this market growth
- Focus on development and availability of sustainable modes of transportation is having a positive impact on the growth of this market
- Various marketing campaigns and promotional offers provided by various market players of this services is enhancing the rate of adoption; this factor will also boost the growth of the market
- Focus of authorities on reduction of traffic congestion resulting in various promotions and benefitting programs for the adoption of this service will propel the market growth
- Lack of infrastructure availability required for the successful operations of this service; this factor is expected to hinder the growth of the market
- Higher expenditure incurred on marketing and promotions of these services in comparison to the revenues generated by the major market players is reducing the sustainability of smaller players; this factor is expected to act as a restraint to the growth of the market
Segmentation: Global Bike and Scooter Rental Market
By Operational Model
- Pay as You Go
By Vehicle Type
- Short Trip
- Long-Distance Travel
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In June 2019, Bird Rides, Inc. announced the launch of “Bird Cruiser”, the newest addition to their electric vehicles fleet available for consumers to rent out. The vehicle is a two-seater hybrid between bicycle and moped. Depending on the market region, the vehicle will either be pedal-assist or peg. This will enhance the adoption rate from consumers utilizing the shared mobility services
- In February 2018, CITYSCOOT announced that they had raised USD 50 million in a funding round with leading investments done by RATP Capital Innovation and Inventure Partners. This investment will enable the company to expand the fleet of vehicles that it has enhancing the volume of services they can provide to consumers as they are looking towards expansion of their presence in different cities throughout Europe
Global bike and scooter rental market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of bike and scooter rental market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global bike and scooter rental market are CITYSCOOT; Lime; JUMP by Uber; Bird Rides, Inc.; ofo Inc.; COUP Mobility GmbH; nextbike GmbH; Lyft, Inc.; MOTOCRUIZER TECHNOLOGIES INDIA PVT.LTD.; Mobike; Spin; eCooltra; Bolt Bikes; Yulu Bikes Pvt Ltd; Mobycy; Vogo rentals; YUGO Urban Mobility SL; VOI Technology AB; emmy-sharing; Spinlister among others.
Research Methodology: Global Bike and Scooter Rental Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved