Global E-Bike Sharing Market Size, Share, Demand & Trends Analysis Report by 2026 | Exclusive Report by Facts Factors
According to Facts & Factors, the global e-bike sharing market size in terms of revenue was worth around USD 28.11 million in 2019 and is expected to reach USD 50.09 million by 2026 growing at a CAGR of 8.6% from 2020 to 2026. The global e-bike sharing market is projected to grow at a significant growth rate due to a number of driving factors.
Electric bicycles, also known as e-bikes, can take the form of scooters, bicycles, or even motorcycles. It is possible for it to be propelled entirely by electric power, or it may receive some assistance from pedalling. E-bikes are transportation options that are both beneficial to the environment and economical.
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Demand for electric vehicles has increased as a result of rising concerns about the environment and health across the world. In addition, the proliferation of the electric vehicle market in the APAC region can be attributed to the increase in traffic congestion as well as the high cost of fuel. Nowadays, to cut down fuel prices, people are opting for sharing their vehicles which is ultimately increasing the demand for this market.
In addition, the majority of today’s young people leave their hometowns behind in order to pursue educational opportunities or volunteer work in a different region, state, city, or even country. When moving to a new location, it can be challenging to acquire a bicycle. Thereby, people look out for convenient travel facilities and they opt for vehicle-sharing programmes. As a result, such factors are having a significant impact on the market for e-bike sharing in the most recent year.
The market for shared electric bicycles can be broken down into submarkets based on the type of industry they serve. The market is segmented into public organisations and governments, as well as private companies, according to the type segmentation that is being used. Internal use and public use constitute the two distinct subsets of the market within the context of the industry.
At the present time, the market share that is accounted for by public use is the largest. The demand for the e-bike sharing market is growing as a direct result of consumers’ increasing awareness of the importance of health and wellness. Customers now have the convenient option of biking without having to put a significant amount of strain on their bodies thanks to the development of electrically powered bicycles.
In addition, there is a growing trend among individuals towards the practice of sharing rather than ownership. Many people move from one location to another in search of better jobs opportunities or educational opportunities. For them, bike sharing is very convenient, and as a consequence, the use of electric bicycles among the general public will increase, which will help to expand the size of the market for e-bike sharing.
The market for shared electric bicycles has been divided into seven different sections based on geography: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. In 2019, the largest market share will be held by Asia and the Pacific. Since 2014, China has seen the most growth in the number of companies offering e-bike-sharing services, which has led to the country having the largest market share.
In addition, the operation of an e-bike sharing system does not require a licence in a number of cities throughout China. Private companies are making significant investments in this sector, which has enabled existing e-bike-sharing companies to experience a rapid expansion of their businesses. In Latin America, countries like Brazil and Mexico have a high demand for low-cost transportation alternatives. Therefore, businesses currently operating in this region have a significant opportunity to increase their revenue by making an electric bike-sharing programme available to the general public. In addition, the regions are broken down into major countries such as the United States of America, Mexico, Germany, South Africa, Italy, India, Japan, Brazil, the United Kingdom of Great Britain and Northern Ireland, Canada, South Korea, the United Arab Emirates, Egypt, France, China, and Kuwait, amongst others.
Pedego Electric Bikes, Bikeplus, Ofo, Hellobike, Lime Bike, BikeMi, Obike, Mango, Co-bikes, Bonopark, Citi Bike, Journey Matters, Mobike, Zoomcar, and Gobike are just some of the important companies that are currently operating in the e-bike sharing market. However, this list is not exhaustive. Other companies include Gobike.
This report segments the e-bike sharing market as follows:
By Type Segmentation Analysis
- Public Organization & Government
- Private Company
By Industry Segmentation Analysis
- Internal Use
- Public Use
Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
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