Urban Road Congestion Driving Bike Sharing Market

In 2018, the global bike sharing market reached $2.7 billion and is expected to surpass $5.0 billion in 2025, registering a 10.2% CAGR during the forecast period (2019-2025). The market is growing due to the deployment of e-bikes, greater convenience, economical mobility option, and urban road congestion. In terms of type, the market is bifurcated into dock-less and station-based, between which, the dock-less category is projected to hold the larger share of the market during the forecast period. This was because of the increasing number of companies opting for dock-less bike sharing concept.

Request to get the sample pages of the report: https://www.psmarketresearch.com/market-analysis/bike-sharing-market/report-sample

Among different regions, namely Latin America, Middle East and Africa (LAMEA), Europe, North America, and Asia-Pacific (APAC), the APAC region dominated the bike sharing market in 2018 and is further projected to account for the major share of the market during the forecast period. The reason for this is the presence of many bike sharing companies in the region. Europe is predicted to grow at the fastest pace during the forecast period due to the projected proliferation of a large number of bike sharing schemes in the region.

A primary driving factor of the bike sharing market is the urban road congestion due to the surging population in urban cities. Because of the increased number of daily commuters in urban areas, the roads are heavily congested especially during peak hours. Hence, several countries are focusing on introducing new alternatives in order to deal with this problem. The countries are encouraging the use of bikes as a solution for the first and last-mile connectivity for daily commuters. In addition, bikes take lesser space on roads which can significantly reduce the traffic on roads.

Make enquiry before purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=bike-sharing-market

Some of the other important players operating in the bike sharing market are Uber Technologies Inc. (Jump),Lyft Inc. (Citi Bike), Youon Technology Co. Ltd. (Hellobike), Bycyshare Technologies Pvt. Ltd. (Mobycy), Clear Channel International Ltd. (ECOBICI), SG Bike Pte. Ltd., Donkey Republic ApS, Yulu Bikes Pvt. Ltd., Bixi Montreal, Tembici (Bike Sampa) and BSM SA (Bicing).

Bike Sharing Market Segmentation

Market Segmentation by Type

Station-Based
Dock-Less
Market Segmentation by Region

North America
By type
By country - U.S. and Canada
Europe
By type
By country - U.K., Italy, Germany, Netherlands, Spain, France, Finland, and Rest of Europe
Asia-Pacific (APAC)
By type
By country - China, Singapore, India, Thailand, and rest of APAC
Latin America, Middle East, and Africa (LAMEA)
By type
By country - Mexico, Brazil, U.A.E. and rest of LAMEA

Contact:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.