The Europe Bike Sharing Market is anticipated to register a CAGR of about 4.67% during the forecast period (2020 – 2025).
- Consumers today are unwilling to invest hugely in commodities which are used for only a brief period. The bike-sharing system is designed specifically for commuters who can pick bicycles as per their need at conveniently timings and locations. With hassle-free, low maintenance, and cheap pricing, Bike Sharing is also becoming popular in the European markets.
- Since 2017, many Chinese bike-sharing models have penetrated the European market. But, today, several local operators are also starting up their bike-sharing businesses. Also, Bikes provide an added benefit of leaner volume, which significantly reduces traffic congestion.
- Rise of E-bikes providing the same utility any two-wheelers with an added benefit of reduced ill-effects on the environment is also becoming popular amongst the European countries. Many young engineers and entrepreneurs with experience in design and innovation see the E-bike industry as a massive opportunity, especially in the European markets.
Key Market Trends
E-Bikes are the fastest-growing segment in the Bike Sharing market
In the rental sector, despite recent growth for taxi players such as Uber and Lift, significant cities are now switching towards 2-wheeler's ride-hailing apps as well, basically to counter the growing traffic congestions and environmental problems.
2-wheeler rental companies are stepping up by proving 24/7customer service with free pick-ups and drops are designated locations. Bikes are also providing helmets, first aid kits, and even mounted phone holder for navigation usage. Optional accessories are also famous in tourism spots such as free 4G internet or pocket Wi-Fi to maximize its customer gains.
As per World Health Organisation (WHO), air pollution is the biggest transport-related threat to public health, with more than 500 000 people dying prematurely every year in Europe, followed by insufficient physical activity and noise pollution.
Electric 2-wheeler is environmentally friendly, running majorly on Li-ion chargeable battery. It can offer a maximum range of 99.4 miles (160 km) in one single charge. With options of battery typing 8, 12, or 18-amp hour batteries, it also provides the customer a choice as per their utility.
Europe is the Fastest-Growing Bike Sharing market.
The bike-share sector is expected to grow from the current 3-5 vehicles per 1000 residents in major European cities to 10-20 cars per 1000 residents in the next five years, representing a 20-30% growth per year.
In Europe, Bike-sharing riders costs between € 0.50($0.58) to € 1($1.16) per trip and up to € 3-4($3.49-4.65) to go to work and back. On an average of € 10-12($11.63-13.96) is spent by a commuter for a whole day in commuting. As the bike-sharing market will begin to issue monthly travel cards, the rates will go down significantly. The cost of annual membership could be around $44-$110.
Many European Bike-sharing companies have joined forces and are operating in more than 350 cities with 65 million rides in 2019. A European expert group comprising of selected few companies like BiciMAD, Donkey Republic, Mobike, and Moventiaa form powerful advocacy in the bike-sharing sector. Cities like Madrid saw the benefits of the introduction to sharing electric bicycles and became the first European city to offer an all-electric bicycle program in 2014. Since then, the BiciMAD subscriber base has grown from 1,000 to over 50,000 people.
The Europe Bike Sharing Market is hugely fragmented with various startups and regional players such as Byke, Urbo Solutions, Bleeper Bike, Cloudbike, Rekola, YoBike, Pony Bikes, and the Donkey Republic. Although to have the edge over its competitors, the major bike manufacturers are making joint-ventures, partnerships to launch newer products.
For instance, in 2019, European Bike Sharing companies like Donkey Republic, Mobike, Moventia, nextbike, PBSC, Ride On, Smoove, and Uber have formed an Expert Group under the Europe Cycling Industries, which is launched on 27 June 2019 in Dublin.
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