Global Bike Sharing Market Analysis Focuses On Top Key Companies - Citi Bike, Operated by Motivate, Divvy | Inc., Grab, JCDecaux, Lime, Lyft, Mobike, ofo, Spin - Electric Scooter Sharing, tembici

Rising environmental concerns along with the implementation of government regulation will outline bike sharing market trends over the forecast period. Rapid modernization and urbanization has caused major traffic problems that has been associated with safety risks, air pollution, economic competitiveness, loss in relation with accessibility and sustainable growth. Bike sharing schemes offer transport flexibility, reduced congestion as well as fuel congestion and reduction in harmful emissions.

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The Major Key Players in the Market are as follows:
o Citi Bike, Operated by Motivate
o Divvy | Inc.
o Grab
o JCDecaux
o Lime
o Lyft
o Mobike ????
o ofo
o Spin - Electric Scooter Sharing
o tembici.

Increasing health consciousness among people owing to the rise in health conditions as a result of living a sedentary lifestyle will contribute towards expanding bike sharing market share. Bikes play a major role in leading a healthy lifestyle and exhibit some key health benefits. The benefits of biking comprises flexible joints, stronger bones, lower body fat levels, improved cardiovascular fitness as well as reduced anxiety and stress levels.

Rapid advancements in technology has led service providers to install appropriate navigations systems in bicycles which helps people find their destination. The convenience delivered by the improving technology will foster bike sharing market. Copenhagen had launched an efficient and innovative bike sharing program a few years ago that was offering GPS-enabled Android tablets with the bikes.

Station-based service segment of bike sharing market is anticipated to gain traction owing to a surge in government investments towards developing public transport infrastructure. Large number of companies are deploying new sharing stations at various locations to offer bikes to consumers at convenient locations and extend their geographical reach.

For instance, Divvy Bikes in 2018 had announced the deployment of 30 new stations in Chicago including Englewood, Ukrainian Village and River North. Similar projects will significantly bolster bike sharing market outlook. In addition, the station-based model minimizes risks of vandalism and theft due to enhanced security.

North America bike sharing market share is poised to gain substantially by the end of the forecast period owing to robust growth of e-bike sharing services in the region. Companies are increasingly deploying e-bikes over conventional bicycles to deliver optimized performance to their customers. For instance, Madison BCycle had replaced its traditional bikes with e-bikes in the U.S. in June 2019.

Working professionals in various cities including Chicago, New York and Seattle are adopting these services to commute to and from their workplaces. The National Association of City Transportation Officials (NACTO) reports that nearly 35 million shared trips were recorded in the U.S. during 2017, which is about 25% more compared to 2016.

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Companies in the U.S. are also offering free rides, coupons and discounts on specific days to expand their customer base. For instance, in November 2018, Motivate and Citi Bikes had offered free rides to U.S. voters on election day. North America bike sharing market is projected to register an appreciable 10% CAGR over the projected period.

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