Bike and Scooter Rental Market Size, Share, Growth and Trends Analysis Report By Type, By Application, and Segment Forecasts, 2021-2027 - 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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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.

Rapid innovations

A range of advanced technologies is playing a crucial role in the largescale adoption of bikes, scooters for reducing crowded public transit systems and improving health. Wireless connectivity, mass electrification, 3D printed parts, predictive analysis, and mobile tracking apps are being developed by key players for making micro-mobility services faster, safer, and more convenient. This increases its suitability for first-mile, last-mile, and longer travel distances. The rapidly changing competitive landscape will augment the growth of the bike and scooter rental market in the future.

Safety concerns

While there are benefits such as less point of contact, more control over social distancing especially after the pandemic, and low costs. However, thefts and vandalism remain recurring issues. In addition to it, the bike design, regulations, and infrastructure are not suitable for every region. This will hamper the bike and scooter rental market expansion during the forecast period.

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.

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)

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