Europe Electric Two-Wheeler Sharing Market Boom to Continue till 2025

The Europe electric two-wheeler sharing market is estimated to grow to $597.2 million by 2025 at a 35.0% CAGR during the forecast period (2019-2025), owing to the technological advancements in sharing services, increasing concerns over greenhouse gas emissions, and worsening urban road congestion. Furthermore, convenience in using shared vehicles is one of the factors driving the market growth. Sharing services refer to a facility, in which electric two-wheelers are available for short-term rentals.

Based on vehicle, the European electric two-wheeler sharing market is classified into kick scooter and scooter. Among these, electric scooters, due to the availability of scooter sharing services in the region from the last five years, dominated the market in the historical period (2017-2018) and will continue to do so in the future as well. However, in the near future, the market for kick scooters is anticipated to witness faster growth, at a CARG of over 65.0%.

The European electric two-wheeler sharing market players currently have huge growth opportunities due to the large investments made by top investors from across the globe. For example, in 2018, Atomico and the European Investors Index Ventures invested in two U.S. companies offering electric kick scooter sharing services, namely Neutron Holdings Inc. (Lime) and Bird Rides Inc., respectively. Index Ventures invested around $100 million in the Series B round of Bird, whereas Atomico did not share the amount it invested in Lime.

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In 2017, Germany dominated the electric two-wheeler sharing market in Europe going by the total sharing rides taken in a year. However, in 2018, Spain held the largest market share in terms of volume as well as value, owing to fact that many major sharing service providers here massively increased their fleet, thereby leading to the market growth. This shows that this new form of transportation is gaining popularity all across the country. For instance, in Barcelona, many players have begun operations, as the scooter culture is quite prevalent in the city.

Now, technological advancements are one of the major factors driving the growth of the electric two-wheeler sharing market in Europe. The domain is completely dependent on technology, which proves instrumental in taking the services within easy reach in every corner of a city at the time of requirement. The services are majorly availed via mobile apps, where users and providers get in touch with each other for parking vehicles, booking rides and even at the time of payment.

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Furthermore, many technological innovations have been introduced with unique concepts to boost the electric two-wheeler sharing market in Europe. Technological innovations, such as the introduction of the internet of things (IOT) and cloud computing, are aiding in the growth of the domain. IOT in the fleet management system has proved beneficial for operating an electric two-wheeler sharing service, as it helps in optimizing the sharing process via efficient vehicle monitoring and tracking, route handling, and potential problem detecting from a remote location.

Hence, with technological innovations and the growing popularity of kick scooters in various cities of the continent, the electric two-wheeler sharing market in Europe is expected to grow.

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