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Bike and Scooter Rental Market Analysis, Overview, Growth Rate, Industry Statistics | Valuates Reports
The global Bike and Scooter Rental market size is projected to reach US$ 4740.8 million by 2027, from US$ 2115.4 million in 2020, at a CAGR of 11.7% during 2021-2027. Key drivers of the bike and scooter rental market include the growing adoption of micro-mobility services.The government's focus on reducing traffic congestion and developing sustainable modes of transportation will surge the growth of the bike and scooter rental market in the coming years.
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The technological innovations and rising automation will propel market growth in the subsequent years. However, the lack of infrastructure and risks related to theft and vandalism will hamper the prospects of the bike and scooter rental industry during the forecast period.
Trends Influencing the Global Bike and Scooter Rental Market
Preference for micro-mobility modes of transportation
People around the world are ditching their personal vehicles for shared bikes, scooters to cover small distances in cities and towns. Micro mobility is becoming the norm for reducing physical footprint and pollution levels. Convenience and budget-friendly booking is acting as the main catalyst for riders across the globe. It aids in last-mile transportation and is much more efficient to navigate than conventional cars in gridlocked urban landscapes. These factors will drive the growth of the bike and scooter rental market during the forecast period.
Eco-friendly transportation
The rising population has redirected the government"s efforts on reducing traffic congestion and making public infrastructure more accessible. The increasing awareness levels regarding the environment have made people switch to e-bikes and e-scooters as it uses clean energy. Moreover, smart cities rely on energy efficiency and green initiatives. Hence there is a push towards bike rental and sharing modes for commuting. This in turn is expected to spur the growth of the bike and scooter rental market in the subsequent years.
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Bike and Scooter Rental Market Share Analysis
Based on region, Asia-Pacific will provide lucrative opportunities for growth in the bike and scooter rental market share due to growing pollution levels, traffic congestion, and favorable government support for promoting eco-friendly modes of transportation.
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Bike and Scooter Rental Market by Type
• Pay as You Go
• Subscription-based
Bike and Scooter Rental Market by Application
• Short Trip (distance 5 km or less)
• Long-distance Travel (5 to 15 km)
• Long-distance Travel (15 km or more)
Bike and Scooter Rental Market by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA
Major Players in the Bike and Scooter Rental Market
• Lime
• JUMP
• BIRD
• OFO
• Grow Mobility
• Nextbike
• CITYSCOOT
• COUP
• Uber
• Lyft
• Gett
• Grab
• Olacabs
• Yandex
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