|Market Size in 2019||Market Forecast in 2025||CAGR (in %)||Base Year|
|USD 2.9 Billion||USD 9.5 Billion||17.3%||2019|
Bike and Scooter Rental Market
The global bike and scooter rental market size was estimated at USD 2.9 Billion in 2019 and is projected to be valued at USD 9.5 Billion by 2025 at a CAGR of 17.3% from 2019 to 2025. The report offers valuation and analysis of surface protection tapes market on a global as well as regional level. The study offers an in-depth assessment of the market competition, inhibitions, sales forecasts, emerging trends, and industry-validated information. The report provides historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion).
Massive demand for ridesharing activities across the globe is likely to define the growth of the bike and scooter rental industry over the forecast timeline. Apart from this, favorable economics of shared micromobility has ensured lower break-even points for the players in the bike and scooter rental industry. This will further prompt the expansion of the market over the forthcoming years. Moreover, shared micromobility, which is defined as shared e-bikes and e-scooters, is anticipated to transform the growth of the automotive sector in the U.S., China, and Europe.
Furthermore, shared micromobility is predicted to offer huge growth prospects to the transportation sector in cities and urban areas due to its ability to address critical transport issues of the urban populace. In addition to this, shared micromobility holds a key to reducing vehicle footprint and minimizing road congestion or traffic jams. All these aspects are anticipated to enlarge the scope of the bike and scooter rental industry over the ensuing years.
Apparently, few of the start-ups, as well as established players in the industry, have claimed significant positive unit economics metrics. Research analysts have predicted that there will be nearly over 200 shared micromobility trips by 2030. All these aspects will create lucrative growth opportunities for the bike and scooter rental market over the forecast period. Today, bikes can be located and unlocked through the use of smartphone Operational Model s and this is likely to upsurge the growth of the bike and scooter rental industry over the forecast timeframe.
|Report Attributes||Report Details|
|Report Name||Bike and Scooter Rental Market Research Report|
|Market Size in 2019||USD 2.9 Billion|
|Market Forecast in 2025||USD 9.5 Billion|
|Growth Rate||CAGR of 17.3%|
|Number of Pages||214|
|Key Companies Covered||Bird, Jump, Grow Mobility, Lime, Ofo, nextbike, COUP, Cityscoot, and among others.|
|Segments Covered||By Service, By Propulsion, By Operational Model, By Vehicle Propulsion, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2014 to 2018|
|Forecast Year||2020 - 2025|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Our research study focuses on the recent transformations observed in the industry along with the strategic plans & moves adopted by the market players to expand their regional presence as well as the business. Let us discuss the strategic moves made by a few of the reputed brands in the bike and scooter rental industry.
Ofo: In the first week of February 2020, a China-based bike sharing firm Ofo added ecommerce features on its app. According to the company sources, the new 4.0 version of the app focuses on four key areas including cash back & discount offerings through ecommerce services and deposit-free bike rental services.
Grab Holdings Inc.: In February 2020, a Singapore-based ridesharing firm Grab announced the acquisition of Bento, a leading B2B Robo-Advisor & Digital Wealth Technology Provider Based in Asia, for increasing its financial service offerings. For the record, Bento is likely to be renamed as Grab Invest. However, Grab has revealed that the acquisition will enable it to expand its service portfolio through wealth management & investment service offerings to the end-users, merchant partners, and driver partners.
Key players profiled in the report include:
By Operational Model
By Vehicle Propulsion
The global bike and scooter rental market accounted for USD 2.9 Billion in 2019 and is expected to reach USD 9.5 Billion by 2025.
The CAGR value of the bike and scooter rental market is expected to be around 17.3% during 2019-2025.