Bike Sharing Market to Generate $2,969.0 Million and Exhibit a CAGR of 7.9% from 2021 to 2028

The global bike sharing market is expected to witness substantial growth in the forecast period, owing to the increasing demand for ecofriendly micro mobility vehicles around the world. The Asia-Pacific region is expected to be the most lucrative by 2028.

Research Dive in its latest published report estimates the global bike sharing market will generate $2,969.0 million and exhibit a CAGR of 7.9% from 2021 to 2028.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/5940

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
The demand and utilization for energy-efficient, ecofriendly, and affordable micro mobility vehicles is growing across the globe. This is mainly because the conventional fuels such as diesel and gasoline on which the vehicles operate emit harmful gases such as NO2, carbon monoxide, sulfur dioxide, and others and pollute the environment. In addition, governments across the globe are taking initiatives to promote electric vehicles. All these factors are estimated to propel the growth of the global bike sharing market during the forecast period. However, the lack of public charging infrastructure and the high initial investment associated with bike sharing are expected to hamper market growth during the estimated timeframe.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐏𝐚𝐧𝐝𝐞𝐦𝐢𝐜 𝐨𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The COVID-19 pandemic has negatively impacted the global bike sharing market growth. This is majorly owing to the reduction in mobility across the globe in most of the countries across the globe owing to imposed lockdowns. Besides, the disruption in international supply chains for transportation of essential components utilized in electric bikes is affecting the global market growth during the pandemic crisis.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The research report segments the global bike sharing market into type of bike, model, and region.

Based on type of bike, the e-bike sub-segment is estimated to surpass $1,168.1 million by 2028 and witness lucrative growth during the forecast period. This is mainly due to the rising traffic congestion leading to long journeys and e-bikes paves the way for commuters to find affordable, time-efficient, and convenient transportation to reach their destinations.

Based on model, the dockless sub-segment of the global bike sharing market is estimated to generate a revenue of $1,340.2 million by 2028 and is predicted to witness the fastest growth over the forecast period. This is majorly owing to the improved flexibility, affordability, and accessibility of dockless models. Besides, increasing deployment of dockless bicycles on road by service providers in order to reduce the cost of building large dock stations is another factor expected to boost the sub-segment's growth during the analysis period.

Based on region, the Asia-Pacific bike sharing market valued for $710.5 million in 2020 and is expected to be most dominant in the global industry over the forecast period. This is mainly due to the growing demand for eco-friendly mobility solutions due to rapid urbanization in countries like China and India. In addition, the surge in urban population along with the rising per capita income in countries of the Asia-Pacific region are expected to drive the regional market growth.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/5940

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The key players of the global market include Uber Technologies Inc, Lime, Lyft Inc., SG Bike Pte Ltd, DiDi Bike, Spin, Hellobike, Nextbike GmbH, Mobike, and Bond Mobility Technologies. These players are focusing on product launches, technological advancements, and strategic collaborations to gain competitiveness in the global market.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Shared Mobility Market: https://www.researchdive.com/9079/shared-mobility-market

Automated Fare Collection Market: https://www.researchdive.com/9114/automated-fare-collection-market

Dropshipping Market: https://www.researchdive.com/9041/dropshipping-market

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𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞

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