Bike and Scooter Rental Market Size, Share, Trends, Growth 2032

Bike and Scooter Rental Market Insights

According to a report from Zion Market Research, the global Bike and Scooter Rental Market was valued at USD 4.8 Billion in 2023 and is projected to hit USD 20.78 Billion by 2032, with a compound annual growth rate (CAGR) of 17.69% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Bike and Scooter Rental industry over the next decade.

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Bike and Scooter Rental Market Key Growth Drivers

Massive demand for ridesharing activities across the globe is likely to define the growth of the bike and scooter rental industry over the forecast timeline. Apart from this, favorable economics of shared micromobility has ensured lower break-even points for the players in the bike and scooter rental industry. This will further prompt the expansion of the market over the forthcoming years. Moreover, shared micromobility, which is defined as shared e-bikes and e-scooters, is anticipated to transform the growth of the automotive sector in the U.S., China, and Europe.

Furthermore, shared micromobility is predicted to offer huge growth prospects to the transportation sector in cities and urban areas due to its ability to address critical transport issues of the urban populace. In addition to this, shared micromobility holds a key to reducing vehicle footprint and minimizing road congestion or traffic jams. All these aspects are anticipated to enlarge the scope of the bike and scooter rental industry over the ensuing years.

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Apparently, few of the start-ups, as well as established players in the industry, have claimed significant positive unit economics metrics. Research analysts have predicted that there will be nearly over 200 shared micromobility trips by 2030. All these aspects will create lucrative growth opportunities for the bike and scooter rental market over the forecast period. Today, bikes can be located and unlocked through the use of smartphone Operational Model s and this is likely to upsurge the growth of the bike and scooter rental industry over the forecast timeframe.

Bike and Scooter Rental Market: Report Scope

Bike and Scooter Rental Market Key Players

Our research study focuses on the recent transformations observed in the industry along with the strategic plans & moves adopted by the market players to expand their regional presence as well as the business. Let us discuss the strategic moves made by a few of the reputed brands in the bike and scooter rental industry.

Ofo: In the first week of February 2020, a China-based bike sharing firm Ofo added ecommerce features on its app. According to the company sources, the new 4.0 version of the app focuses on four key areas including cash back & discount offerings through ecommerce services and deposit-free bike rental services.

Grab Holdings Inc.: In February 2020, a Singapore-based ridesharing firm Grab announced the acquisition of Bento, a leading B2B Robo-Advisor & Digital Wealth Technology Provider Based in Asia, for increasing its financial service offerings. For the record, Bento is likely to be renamed as Grab Invest. However, Grab has revealed that the acquisition will enable it to expand its service portfolio through wealth management & investment service offerings to the end-users, merchant partners, and driver partners.

Key players profiled in the report include:

• Bird
• Jump
• Grow Mobility
• Lime
• Ofo
• nextbike
• COUP
• Cityscoot

The global bike and scooter rental market is segmented as follows:

By Service

• Pay As You Go
• Subscription-Based

By Propulsion

• Pedal
• Electric
• Gasoline

By Operational Model

• Dockless
• Station-Based

By Vehicle Propulsion

• Bike
• Scooter

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa