The global bike and scooter rental market is relied upon to ascend to an expected estimation of USD 7.06 billion by 2026, enrolling a healthy CAGR in the gauge time of 2019-2026.
Bike and scooter rental is an advanced automobile employing service including profiting smaller-scale methods of mobility, for example, scooters, bikes, cycle and others on lease for a specific period or distance. Clients can distinguish the docks nearest to them where they can lease the automotive and select the dock nearest to their destination and submit their automobiles at that area. The specialist co-ops of this service are offering their types of assistance over mobile applications as well as upgrading the convenience for clients.
The ascent in market worth can be ascribed to the development of interests for environment-friendly and emission-free methods of transportation. The scooter and bike rental market is encountering remarkable growth attributable to the expanding adaption for the micro-mobility benefits as a simple method and budget-friendly method of transportation. The requirement for the improvement of sustainable practices for transport is the other significant factor driving the development of the market.
· Bird won't quit deploying new mobility automobiles and services. Bird has recently divulged the Bird Cruiser, an electric car that is a mix between a bicycle and a moped. The Bird Cruiser can situate up to two individuals and, contingent upon the market, and the Cruiser will either be pedal-help or have a peg. This denotes Bird's first move outside of the kick scooter space.
· Bird, perceiving the developing chance that individuals will need to claim electric bikes as opposed to sharing them, is propelling another bike model accessible for procurement. Called the Bird One, it will be available for proprietorship and shared-use cases. The Bird is additionally dumping the Ninebot ES and depending on its M365 model for the month to month personal rentals.
· E-bike rental start-ups Lime and Bird are suspending their services in many urban areas across Europe, as the coronavirus episode puts forth a money pressure of the technology industry. Lime is likewise expelling its bikes and scooters from the avenues in enormous swaths of the US and Canada. Either organization planned no date for their arrival.
· Jump, the scooter and bike rental organization claimed by Uber, is getting a facelift. The bike-share organization uncovered the next age of its electric-powered bikes. The expectation is that these new, high technology bikes will spike Uber's push to dominate the micro-mobility space, which is becoming progressively severe and increasingly costly to explore.
Ojo, a California electric bike organization, declared its aim to procure Gotcha, a bike and scooter rental service. It's another sign that the mutual micro-mobility industry is oversaturated and requires consolidating.
Drivers and Restraints of Bike and Scooter Rental Market:
The rising traffic congestions on roads coupled with adoption of electrically powered vehicles is expected to provide lucrative growth opportunity to the global bike and scooter rental market. Rise in preferences of micro-mobility services as a preferred transit mode because of cost-effectiveness will fuel this market expansion in future. Growing concentration on development and availability of sustainable transportation modes is having a positive effect on the expansion of this business. Several marketing campaigns and promotional offers by various market players of these services is enhancing the rate of adoption; this factor will also boost the growth of the market.
Players are offering a few discounts and offer to draw in customers, even though customer retention is one of the significant challenges faced by players in the scooter and bike rental market. Absence of framework accessibility required for the successful tasks of this service is relied upon to hamper the development of the market.
· Pay As You Go
The electric vehicles are foreseen to rule the global business in the coming years with the increasing demand for reducing carbon emissions around the world.
By Operational Model:
Today, bikes can be found and unlocked using cell phone operational models, and this is probably going to upsurge the development of the scooter and bike rental industry over the estimated period.
By Vehicle Propulsion:
The service co-ops give scooter and bike to the individuals who don't have access to the automobiles that is travellers and tourists. The service organizations who deal in providing scooter and bikes on lease have specialized their stores at areas, for example, seashores, vacationer areas and parks, and so on.
Bike and Scooter Rental Market Region wise analysis:
Marked Segmentation based on the region:
a. Middle East
North America is likely to hold high share in the global scooter and bike rental market. This is fundamentally because of the presence of a few prevalent players in the area. Asia Pacific is relied upon to develop as the quickest area in the worldwide scooter and bike market. Asia Pacific is likewise foreseen to display most elevated development rate over the estimated time frame of 2020-2026 because of progress in lifestyle and increment in working populace. The administration activity in regards to producing low pollution automotive in the developing nations of Asia Pacific, for example, China and India, along with the presence of huge market players in a vehicle industry is flooding the development of Asia Pacific area in the scooter and bike rental business.
Key Players of Market:
Major Key players accounted for this market are Bird, Jump, Grow Mobility, Lime, Ofo, Nextbike, COUP, and Cityscoot.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Bike and Scooter Rental Market, By Service
6.1.1 Pay As You Go
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Bike and Scooter Rental Market, By Propulsion
6.2.4 Market Size Estimations & Forecasts (2019-2024)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Bike and Scooter Rental Market, By Operational Mode
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Bike and Scooter Rental Market, By Vehicle
6.4.3 Market Size Estimations & Forecasts (2019-2024)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Service
7.2.3 By Propulsion
7.2.4 By Operational Mode
7.2.5 By Vehicle
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Service
7.3.3 By Propulsion
7.3.4 By Operational Mode
7.3.5 By Vehicle
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Service
7.4.3 By Propulsion
7.4.4 By Operational Mode
7.4.5 By Vehicle
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Service
7.5.3 By Propulsion
7.5.4 By Operational Mode
7.5.5 By Vehicle
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Service
7.6.3 By Propulsion
7.6.4 By Operational Mode
7.6.5 By Vehicle
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.3 Grow Mobility
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures