Global Bike and Scooter Rental Market - Industry Trends and Forecast to 2030

Bike and Scooter Rental Market Analysis and Size

The essential factors contributing to the growth of the global bike and scooter rental market in the forecast period of 2023-2030 include growing acceptance of people for micro-mobility services as a cost-effective and convenient way of transportation. In addition, the development of sustainable modes of transportation is becoming a necessity. Furthermore, the increasing focus of government on reducing traffic congestion, technological advancements, the widely spreading trend of automation, high adoption of electrically powered vehicles is another major element contributing to the market's growth.

Data Bridge Market Research analyses that the global bike and scooter rental market which was USD 2.44 billion in 2022, is expected to reach USD 8.08 billion by 2030, growing at a CAGR of 16.15% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Bike and Scooter Rental Market Scope and Segmentation

Market Definition

A bike and scooter rental is a transport service which offers bikes or electric bikes, scooters for rent for an individual charging a particular price. Using rented bikes and scooters is a convenient way to travel without owning bikes and scooters. Users can pick up bikes around the city from multiple docked or dock-less stations and return them at another same system. The user can rent, bike or scooter on hourly basis, pay in advance for the vehicle, or the user can simply pay on a subscription basis.

Global Bike and Scooter Rental Market Dynamics

Drivers

• Rise in tourism to boost bike and scooter rental market

Tourism industry is significantly growing over the years, experiencing growth and becoming one of the fastest growing profitable economic segment all over the world. According to the data of World Tourism Organization, around1.5 billion international tourist arrivals were recorded in 2019, in world, the tourist are preferring rental bikes and scooters to visit different places. The increasing tourism is a major driver for ‎economic growth in a number of countries and are further contributing for the growth of bike and scooter rental market during the forecast period of 2023 to 2030.

• Technological advancement in bike rental system

Service providers are making investments in various technological innovations such as artificial intelligence (AI) and internet of thing (IoT). These technological advancements such as integration of GPS technology, mobile payments and locking & tracking systems for bikes is propelling the market’s growth. Along with this, the technological advancements enable service providers to locate them in any region which further eliminates the chances of theft and robbery. Therefore, the technological advancement in bike and scooter rental system is boosting the market’s growth.

Opportunities

• Rise in renting and ride-sharing services

The rise in the carpool and bike pool services among regular office commuters is one of the primary factor contributing to the growth of bike and scooters rental services. In addition, the significant increase in the services offered by major market players, such as Uber and Ola, and easy pick-up and drop is encouraging consumers to choose ride-hailing and ride-sharing services. Furthermore, the rise in the number of ride renting, bike sharing and scooter sharing services, for short-distance, medium-distance and log-distance travel is creating a number of opportunities for the market’s growth.

• Increasing inclusion e-bikes in the rental fleet

There is an increasing demand for e-bikes globally, as they are fast & flexible and has zero carbon emissions. As e-bikes are cost-effective & eco-friendly transport solutions, there is rising consumer inclination which is further expanding bike and scooter rental market. In addition, an e-bike is preferred more, as it better fulfils the requirement for higher speed in short-distance as compared to a pedal-operated bike and other vehicles. The features of e-bikes such as effortless driving higher speed, more convenience, are the major factors increasing the demand of e-bikes which further contributes in the bike and scooter rental market’s growth.

Restraints/Challenges

• High initial investment cost

In initial stage, each brand put large numbers of rental bikes and scooters into the major cities.  For putting large number of rental bikes and scooters high investment is required which is a major challenge faced by the players operating in the market. Along with this large amount of capital investment is required for recharging docks for e-bikes, parking zones for free-floating bikes, docked bike stations network, and others. Therefore, the high initial investment cost is a major challenge for the market’s growth.

• Lack of awareness

There is lack of awareness of bike and scooter rental services in the general public. This is majorly witnessed in less developed countries in these countries the technology is new. Furthermore, in developed countries, there is a lack of awareness about the existence of such services and people are unaware about their usage. Thus, lack of awareness is restraining the market’s growth.

This global bike and scooter rental market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global bike and scooter rental market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In September 2021, Bird announced the launch of revolutionary integration between their shared scooter platform and local bike share service providers. The cities featured in their local bike share programs first were, Oslo, Austin, Los Angeles, San Antonio and Milwaukee. This launch would increase the number of rental bikes in the market which would significantly contributes in the market’s growth.
• In May 2020, Bounce partnered with electric scooter start-up Ather Energy for  enabling its users to buy and list Ather 450 on its platform. This partnership would further boosts the market growth.

Global Bike and Scooter Rental Market Scope

The global bike and scooter rental market is segmented on the basis of service, propulsion, operational model, vehicle and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service

• Pay as You Go
• Subscription-Based

Propulsion

• Pedal
• Electric
• Gasoline

Operational Model

• Dock Less
• Station-Based

Vehicle

• Bike
• Scooter
• Others

Application

• Short Trip
• Less Than 5 km
• Medium-Distance
• 5 km to 15 km
• Long-Distance
• More Than 15 km
• Long-Distance Travel

Global Bike and Scooter Rental Market Regional Analysis/Insights

The global bike and scooter rental market is analysed and market size insights and trends are provided by service, propulsion, operational model, vehicle, and application as referenced above.

The countries covered in the Global bike and scooter rental market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia Pacific dominates bike and scooter rental market as the region comprises of rapidly emerging economies like China and India. The factors contributing in the market’s growth in the region are growing concerns over pollution and increasing traffic congestion. In addition, low charges of bike & Scooters sharing and renting are propelling the market’s growth in the region.

North America is expected to grow during the forecast period of 2023 to 2020. The factors contributing for the market’s growth in the region are the presence of major manufacturers in the region, increasing demand of e-bikes, increasing demand of bike and scooters for rent, therefore contributing in the market’s growth. 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Bike and Scooter Rental Market Share Analysis

The global bike and scooter rental market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global bike and scooter rental market.

Some of the major players operating in the global bike and scooter rental market are:

• Lime (U.S.)
• Bird Rides, Inc (US)
• Ofo Inc. (China)
• TIER Mobility SE (Germany)
• CITYSCOOT Tous droits reserves (France)
• Uber Technologies Inc. (U.S.)
• Mobycy (India)
• Vogo Rental (India)
• Lyft, Inc. (U.S.)
• Zauba Technologies & Data Services Private Limited (India)
• Spin (U.S)
• Cooltra (Spain)
• Bolt Technology OU (Estonia)
• Yulu Bikes Pvt Ltd (India)
• YEGO Urban Mobility SL (Spain)
• Spinlister (U.S.)
• Zoomo (Sydney)
• Voi Technology AB (Sweden)
• emmy-sharing (Berlin)

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