Dublin, Dec. 11, 2024 (GLOBE NEWSWIRE) -- The "Bike and Scooter Rental - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Bike and Scooter Rental was estimated at US$6.2 Billion in 2023 and is projected to reach US$22.7 Billion by 2030, growing at a CAGR of 20.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The report analyzes the Bike and Scooter Rental market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.
Segments
Service Type (Pay As You Go, Subscription-based); Propulsion (Electric, Gasoline, Pedal); Vehicle Type (Bike, Scooter, Other Vehicle Types).
Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
What Factors are Fueling the Expansion of the Bike and Scooter Rental Market?
The growth in the bike and scooter rental market is fueled by several significant trends, including increasing urbanization, a heightened focus on sustainability, and rapid advancements in electric vehicle technology. As urban populations grow, more people are facing issues like traffic congestion, limited parking availability, and the high costs of car ownership, which has led many to seek out more efficient, cost-effective transportation alternatives. Bike and scooter rentals offer a flexible and affordable solution that allows users to bypass traffic and parking constraints, making them an appealing option for short-distance travel within cities.
Environmental sustainability is another major factor, as both consumers and governments push for greener transportation solutions to reduce urban carbon emissions. Many city governments are actively promoting micromobility services as part of their environmental goals, offering incentives or forming partnerships with rental providers to encourage more sustainable commuting practices. The introduction of electric bikes and scooters has further accelerated market growth by enabling users to travel longer distances comfortably and efficiently, which has expanded the potential user base and made rentals attractive to a wider demographic.
Changes in consumer behavior, particularly among younger, urban populations, have also contributed to this growth, as many prioritize on-demand access and flexibility over vehicle ownership, viewing micromobility as a more adaptable and convenient option. Moreover, advances in mobile technology and connectivity have streamlined the rental process, while data-driven insights and machine learning help providers manage their fleets more effectively, predict usage trends, and optimize for demand. These factors, coupled with regulatory support in many urban areas, are propelling the bike and scooter rental market forward, establishing it as a critical component of the evolving urban mobility landscape.
What Challenges are Facing the Bike and Scooter Rental Industry?
Despite their rising popularity, bike and scooter rentals face a range of challenges, especially in terms of regulation, safety, and urban infrastructure. Regulatory compliance is one of the most pressing issues, as cities worldwide work to balance the benefits of micromobility with public safety and infrastructure demands. Unregulated use of rental scooters and bikes has led to issues with sidewalk congestion, improper parking, and accidents, prompting city governments to impose restrictions, such as capping the number of vehicles allowed per operator, designating specific parking zones, and mandating safety features on vehicles.
Safety remains a critical concern, as electric scooters in particular have seen higher accident rates due to factors like speed, rider inexperience, and lack of protective equipment. In response, some companies have implemented speed limits, safety training modules within apps, and even provided helmet rentals, although these solutions are not universally adopted and vary widely by region. Infrastructure also poses a significant barrier to adoption, as many cities lack adequate bike lanes or designated parking areas, which can create friction between riders, pedestrians, and motorists. Furthermore, seasonality and weather can impact rental usage, leading to fluctuating demand that affects profitability. Collectively, these challenges underscore the need for collaborative efforts between cities and providers, continued investment in infrastructure, and adaptive business strategies that address both regulatory requirements and user safety.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Pay As You Go Service segment, which is expected to reach US$13.4 Billion by 2030 with a CAGR of a 21.0%. The Subscription-based Service segment is also set to grow at 19.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.6 Billion in 2023, and China, forecasted to grow at an impressive 25.7% CAGR to reach $6.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Bike and Scooter Rental Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Bike and Scooter Rental Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Bike and Scooter Rental Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Bike and Scooter Rental Market such as Beam, Bird, Blinkee.City, Bolt, Cityscoot and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 42 companies featured in this Global Bike and Scooter Rental Market report include:
- Beam
- Bird
- Blinkee.City
- Bolt
- Cityscoot
- COUP
- Ecooltra
- Emmy
- Hopr
- Jump
Key Attributes
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $6.2 Billion |
| Forecasted Market Value (USD) by 2030 | $22.7 Billion |
| Compound Annual Growth Rate | 20.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Bike and Scooter Rental - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Eco-Friendly Transportation Drives Growth in Bike and Scooter Rental Market
- Increasing Popularity of Micro-Mobility Solutions Fuels Adoption of Bike and Scooter Rentals
- Here's How Urbanization Trends Expand Market for Convenient Rental Options
- Growing Focus on Reducing Traffic Congestion Supports Demand for Shared Mobility Services
- Rising Use of App-Based Platforms Enhances Accessibility and Convenience in Bike and Scooter Rentals
- Here's How Flexible Pricing Models Attract Diverse Customer Segments
- Focus on Reducing Carbon Emissions Boosts Adoption of Zero-Emission Rental Vehicles
- Advancements in GPS and IoT Technologies Improve Fleet Management and User Experience
- Here's How Contactless Payments and Digital Wallets Enhance Convenience in Rentals
- Increasing Use of Data Analytics Enhances Route Optimization and Service Efficiency
- Focus on User Safety Drives Development of Helmets, Reflectors, and Safety Features
- Rising Investment in Infrastructure Supports Expansion of Bike and Scooter Rental Networks
For more information about this report visit https://www.researchandmarkets.com/r/4jk62a
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