Published: December 2023 | Report Code: 11775 | Available Format: PDF
The bike sharing market was valued at USD 7,390.2 million in 2023, and it is expected to grow at a CAGR of 10.6% during the forecasted period (2024–2030), to reach USD 14,915.0 million by 2030. This is ascribed to the rising number of service providers, developments in technologies, and increasing demand for bike sharing services.
Moreover, the increasing number of collaborations between mobility as a service (MaaS) providers and bike sharing companies drives the market. Due to these collaborations, various companies are enhancing their ridership and revenue, and these also help in improving comfort and towering speed over short distances. For instance, TVS Motor Company acquired a 75% stake in the Swiss E-Mobility Group (SEMG) and is planning to purchase the available 25% stakes in the future year.
The program of bike sharing has been broadly improved by the adoption of advanced technologies, such as GPS, mobile payments, AI, and IoT, by service providers. For instance, e-scooters are connected with internet of things (IoT) devices, which permit their smart unlocking and tracking. This led to the initiation of a dockless bike sharing system in the industry. For instance, in January 2019, Mobycy, a bike sharing company instigated its service for e-scooters, called Zypp.
In addition, the enormous growth in regular office goers’ desire for bike sharing services drives the market. The accessibility of extra services from apex competitors of the industry, such as Ola and Uber, as well as people’s choice for suitable pick-up and drop-off locations, is urging customers to utilize ride sharing and ride hailing services. Furthermore, due to this reason, there is an enormous rising in the sharing services of bikes and autos for traveling, even for shorter distances.
For instance, the majority of governments around the globe want to transition from gasoline to electric automobiles to confront the challenges of the environment. Also, companies like General Motors and Volvo focus on concluding the selling of new gasoline-fueled cars and light trucks by 2030 or 2035 and will move even faster and introduce battery-powered models.
Report Attribute | Details |
Market Size in 2023 |
USD 7,390.2 Million |
Market Size in 2024 |
USD 8,144.8 Million |
Revenue Forecast in 2030 |
USD 14,915.0 Million |
Growth Rate |
10.6% CAGR |
Historical Years |
2017-2023 |
Forecast Years |
2024-2030 |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Segments Covered |
By Type; By Sharing System; By Region |
Explore more about this report - Request free sample
Based on sharing system, the dockless category influenced the bike sharing market, and growing at a faster rate. This is ascribed to the increasing number of companies that are settling for the dockless bike sharing concept, as it necessitates lesser capital and involves lesser expenditure than a system based on station. Moreover, clients detect dockless sharing more attractive, owing to its cost-effectiveness and convenient features, such as parking flexibility over the systems-based stations. Also, the evolution of the dockless sharing system has been made feasible by comprising GPS technology, customer-ready mobile payments, and lower costs of investment for locking of bike and monitoring the systems.
In addition, dockless bike sharing delivers significant comfort to customers since they do not have to think of finished stations upon the advent and vacant stations at the initiation of the journey, i.e., it permits customers to vacate bicycles and put back them anywhere within a provided geographical area. With this system of dockless bike sharing, bikes can be left at a rack or on the pavement on the interior of a selected district area. The attribute to pick up and drop off the bike in any place, there is a public parking space that is legal, which makes the system of dockless bike sharing more appropriate and simplifies the access to the public on a regular basis.
For instance, Uber has tied up with an electrical cycle-sharing app, Yulu, which provides bicycle rentals to its clients. Currently, the Uber app deflects its clients to register themselves on Yulu, an alternative that straightaway allows customers to reserve the service from the company’s app.
Globally, the Asia-Pacific region is the largest market for bike sharing and it is projected to witness the same trend during the expected duration as well. This is mainly ascribed to the growing number of bike sharing schemes in the area and the increasing investment in this field. For instance, Chinese engineers of bike sharing, such as Hellobike and Mobike, have obtained remarkable investments in the previous few years.
Also, the number of bike fleets, with the financed amount, and docking stations is rising. This is attributed to customers’ swift adoption of bike sharing services in different countries such as China, India, Vietnam, and Singapore, where the requirement for such services has been increasing rapidly. For instance, in December 2020, Chandigarh Smart City Limited (CSCL) initiated an experimental project with 225 cycles in at least 25 docking stations in India. In the next phase of the project, in May 2021, a complete total of 1,250 cycles was added, and the docking stations’ number increased from 25 to 155.
In China, based on the Ministry of Transport (MoT), the country has more than 70 bike sharing companies, with the contribution of 23 million bicycles and over 400 million clients. Also, companies, such as Ofo, have organized to diversify their services in countries of Asia, Europe, and North America.
Furthermore, the North American market holds a significant share. This is because many such providers of services are concentrating on increasing the fleet of electrical bicycles to obtain a competitive edge. For example, Jump Bike increased its electric bicycle fleet by nearly 250 units in 2018 in San Francisco.
Whereas, during the projected period, the European market is expected to witness the fastest growth. This can be attributed to the surging adoption of bike sharing services across the region, as they offer numerous benefits such as improved air quality, enhanced accessibility, healthier lifestyles, and reduced traffic blocking.
In Europe, professionals who are working are utilizing sharing bike services to go to their offices to diminish pollution and get away with traffic congestion. This is also because of the existence of service suppliers in countries, such as Germany, Italy, France, the U.K., and Spain, which are heavily investing in progressive services. For instance, major providers and operators of bike services, such as Donkey Republic, Moventia, Monike, PBSC, Ride on Smoove, Nextbike, and Jump, help promote cooperation and develop the bike sharing sector in European cities.
The diversification of the business in the area is also being powered by the rising number of associations, alliances, and strategic alliances among suppliers’ authorities and operators of bike sharing to uplift sharing movability services throughout Europe. Another prime component that is driving the development in the market is the increasing requirement for services of bike sharing for commuting integrated with the rising quantity of cycling outings. For instance, according to the U.K. bike share survey 2019, the bike sharing services for traveling ascended by 42%.
In addition, the surging investments are driving the regional market growth. For instance, in June 2019, Hellobike set foot into an association with Contemporary Amperex Technology Co. Ltd. (CATL) and Ant Financial Services to cumulatively invest $144 million for the formation of an e-bike battery joint venture. Through the drift, a network of storage units permits bike riders to acquire charged batteries during their commute.
This fully customizable report gives a detailed analysis of the bike sharing market from 2017 to 2030, based on all the relevant segments and geographies.
Based on Type
Based on Sharing System
Geographical Analysis
The bike sharing market size stood at USD 7,390.2 million in 2023.
During 2024–2030, the growth rate of the bike sharing market will be around 10.6%.
Docked is the largest sharing system in the bike sharing market.
The major drivers of the bike sharing market include the growing sharing bike fleet size, rising number of sharing bike service providers, increasing demand for bike sharing services, and developments in technologies.
Get a bespoke market intelligence solution
Want a report tailored exactly to your business strategy?
Request CustomizationWant an insight-rich discussion with the report author?
Speak to AnalystOur dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws