Global Bike and Scooter Rental market is valued approximately USD 2.10 billion in 2018 and is anticipated to grow with a growth rate of more than 18.8% over the forecast period 2019-2026.
The bike and scooter rental or hire business rents out bikes and scooter for a shorter period of time, specifically for the few hours. The service providers provide bike and scooter to the people who do not have access to the vehicles that is travelers and tourists. The service providers who deal in providing bike and scooters on rent have specialized their stores at locations such as beaches, tourist locations and parks etc. The rise of micro mobility as a budget-friendly mode of transportation and sustainable & technologically advanced mobility are the factors driving the growth of market over the forecast years. Whereas, lack of supporting infrastructure for micro mobility is hampering the growth of market in the upcoming years. The rising traffic congestions on roads coupled with adoption of electrically powered vehicles is expected to provide lucrative growth opportunity to the market.
For instance: According to the Electric Vehicle Initiative, the Japan’s automotive strategy is made in accordance to co-operative approach across industrial stakeholders, focusing toward reduction in greenhouse emission by 80% from producing electric vehicle by domestic automakers till 2050. Similarly, in China, the State Grid Corporation of China plan to build 1,200,000 charging point by 2020 and automakers such as SAIC Motors targeted to build 20,000 charging point by 2020 whereas BAIC Group and NIO targeted to build 4100 battery-swapping station. Thus, the heavy investment by automakers implies the adoption of electric powered vehicles thereby, is an opportunity for the growth of market.
The regional analysis of global Bike and Scooter Rental market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-pacific is expected to grow as the fastest region in the global bike and scooter market. Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026 due to change in lifestyle and increase in working population. The government initiative regarding manufacturing low pollution vehicle in the developing countries of Asia Pacific such as China and India coupled with the presence of large market players in an automotive industry is surging the growth of Asia pacific region in the bike and scooter rental market.
Market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type:
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017
- Base year – 2018
- Forecast period – 2019 to 2026
Target Audience of the Global Bike and Scooter Rental Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers