Bike Sharing Market Size (2024 - 2029)

Bike Sharing Market Analysis

The Bike Sharing Market size is estimated at USD 7.85 billion in 2024, and is expected to reach USD 12.44 billion by 2029, growing at a CAGR of 9.65% during the forecast period (2024-2029).

The rise in vehicular gas emissions and noise is leading to high levels of pollution in major cities worldwide. The demand for clean energy and high-powered vehicles is simultaneously witnessing a healthy growth rate, and this is anticipated to drive the global market for bike-sharing.

Moreover, the growing need for urban transportation periodically increases the number of vehicles on roads, which leads to heavy traffic congestion and high environmental pollution. Bike-sharing programs have been widely adopted by regions like Asia-Pacific, North America, and Europe to alleviate the above-mentioned issues. Many bike-sharing operators have started focusing on expanding their fleet of e-bike services to sustain themselves in the growing competition in the bike-sharing market.

The growing number of technological advancements, such as the proliferation of GPS technology, consumer-ready mobile payments, and the Internet of Things (IoT), and the reduction in investment costs of locking and tracking systems for bikes have led to the introduction of dockless bike-sharing systems in the market.

The dockless bike-sharing system has resulted in better bike-sharing services for the growing urban commutes. The system allows the ease of transit access by offering users the sheer flexibility of picking up and dropping off bikes freely at any legal public vehicle parking lot instead of the operator’s bike stations.

Bike Sharing Industry Segmentation

Bike sharing is the provision of making bicycles available for shared use through a self-service rental scheme in which people can hire them for short-term use.

The scope of the bike-sharing market is segmented by bike type, sharing system, and geography. By bike type, the market is segmented into traditional/regular bikes and e-bikes. By sharing system, the market is segmented into docked and dockless. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The profiles of major players in the market are also covered in the report, along with their market shares. The report offers the market size and forecasts in value (USD) for all the above segments.