Research Report on Rental Bicycle Market for Exploring Various Growth Dimensions

 Rental Bicycle Market: 

• Rental bicycle is a service where a person can take a bicycle on rent for a certain period. The service is also known as a bicycle sharing system. Each bicycle renting company has specific docks for itself. The rider borrows a bicycle from a dock and returns it to another dock belonging to the same system. The bikes are computer-controlled. Once the person enters the payment details, they can unlock and use the cycle. A user can rent from either manual or electric cycles.

Key Drivers of the Global Rental Bicycle Market

• The main users of rental bicycle services are the young workforce and students as the service is fairly affordable. They are not required to invest in a new bicycle and can pay for the hours the cycle has been used. An increase in the number of migrant students and young workforce is boosting the demand for rental bicycles, thus driving the market growth.
• The growing awareness and concerns about the environment and low emission commute are also fueling the market.

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Rental Bicycle Market: Key Segments

• The global rental bicycle market can be segmented based on type, operation, end-use, distribution channel, and region. Based on type, the rental bicycle market can be classified into docked and dockless bicycles. Docked bicycles held the largest market share in 2020. Based on operation, the market can be segmented into manual and electric. Electric bicycles have high demand in the market. Based on end-use, the market can be categorized into personal and commercial. In terms of distribution channel, the market is segmented into online and offline channel. Online channels are noticing higher growth as individuals can book a cycle on a prior basis and then take the cycle.

Asia Pacific the Leading Market for Rental Bicycles

• By region, the global rental bicycle market is classified into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
• Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. Country-level analysis and forecast of the Europe market covers the rental bicycle market in the U.K., Germany, France, and Rest of Europe. The country-level analysis and forecast of the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America rental bicycle market is categorized into Brazil, and Rest of South America.
• Asia Pacific holds the largest share in the rental bicycle market. China has witnessed the entry of several new players in the past few years. Investments from private equity players have enabled bike sharing operators to expand their business in the country.

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Key Players Operating in the Global Market

The rental bicycle market is highly competitive. Companies are adopting different strategies such as geographic expansion, and merger & acquisition to expand their presence and capture more customers.

Some of the major companies identified in the global rental bicycle market are:

• ofo Inc.
• Lyft, Inc.
• Social Bicycles Inc.
• Vancouver Bike Share Inc.
• Neutron Holdings, Inc. dba Lime
• Social Bicycles Inc. JUMP Bikes
• PEDL (Zoomcar)
• Ola Pedal
• Mobycy
• Yulu Bikes Pvt. Ltd

Global Rental Bicycle Market: Research Scope

Global Rental Bicycle Market, by Type

• Docked Bicycle
• Dockless Bicycle

Global Rental Bicycle Market, by Operation

• Manual
• Electric

Global Rental Bicycle Market, by End-use

• Personal
• Commercial
  • Commute
  • Tourist Spots
  • Others (Parks, etc.)

Global Rental Bicycle Market, by Distribution Channel

• Online
• Offline

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