Bike rental market is anticipated to grow at a significant CAGR during the forecast period. Increased domestic and international tourism, as well as increased migration of individuals across cities, are driving the market forward. Furthermore, one of the important factors driving the growth of the global bike rental market is technological advancement and increased internet penetration. For decades, small players have operated unorganised bike rental services all across the globe. The feasibility of bike rental services has increased thanks to technical advancements such as live vehicle location tracking and remote car locking.
The global success of the ride-hailing sector is inspiring confidence in investors in the bike rental industry. As a result, entrepreneurs with a strong business plan can secure large capital. Some of the key companies operating in the bike rental market include ANI Technologies Pvt. Ltd., Didi Chuxing Technology Co., Lyft, Inc., Wickedride Adventure Services Pvt. Ltd. (Bounce) and so on. To maintain a strong position in the market, these market players adopt various strategies such as product launches, partnerships, collaborations, and mergers and acquisitions. For instance, Bounce, an electric bike rental firm based in India, received $105 million in investment from Accel and B Capital Group in January 2020. Limited awareness, low price, and high beginning costs, as well as a lack of charging infrastructure for electric bikes, are some of the industry’s primary challenges.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
Segment Covered-
- By Vehicle Type
- By Propulsion Technology
- By Operation Mode
- Competitive Landscape: ANI Technologies Pvt. Ltd., Didi Chuxing Technology Co., Lyft, Inc., Wickedride Adventure Services Pvt. Ltd. (Bounce) and so on.
Bike Rental Market by Segment
By Vehicle Type
- Motor Bike
- Scooter
By Propulsion Technology
- Gasoline
- Electric
- Pedal
By Operation Mode
- Dockless
- Docked
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Bike Rental Market by Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
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