According to the research report titled ‘Bike Sharing Market Size By Type (Conventional Bikes, E-Bikes), By Model, Application Growth Potential, Price Trends, Competitive Market Share & Unit Forecast, 2019 – 2025’, available with Market Study Report, bike sharing market is projected to accumulate USD 10 billion by the year 2025.
 

Increasing health and environmental concerns leading to adoption of transport solutions that are environment friendly, infrastructure development subsidies by the governments, along with smart city development are the factors driving the growth of bike sharing market worldwide.
 

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To address the problems of greenhouse gas emissions and rising traffic congestion travelers are preferring alternatives like bike sharing, electric vehicles, and carpooling. This factor, coupled with emphasis among authorities on offering sufficient parking space are stimulating the market outlook.
 

However, bike theft and damage, and lack of awareness regarding bike sharing in rural are restricting the growth of worldwide bike sharing industry.
 

Based on type, bike sharing market is segmented into e-bikes, and conventional bikes. Speaking of the model, the marketplace is divided into station based, P2P, and free floating.
 

According to the report, free-floating segment is slated to grow modestly over 2019-2025. Maximum accessibility and improved convenience are boosting the demand for free floating bikes. To expand customer base, companies are now aiming at providing more dockless bike sharing services. For instance, Yellow, a Brazilian start-up company, announced to deploy around 20000 dockless bikes in 2018. Integration of GPS technologies for increased security of free-floating bikes will further impel the segmental growth.
 

Considering regional terrain, North America bike sharing industry is projected accrue massive revenues by the year 2025, as escalating number of individuals are opting for these services to travel to & from their workplace. According to National Association of City Transportation Officials, in 2018, nearly 84 million trips were taken with shared bikes & scooters in U.S. Also, Citi Bike deployed around 4000 electric bikes and 13 bike stations across U.S. in April 2019.
 

Key contenders in worldwide bike sharing industry space include Youon Technology Co. Ltd., Tembici, SPIN (Ford Motor Co.), SG Bike, ofo Inc., Mobike, Lyft Inc., Lime (Neutron Holdings Inc.), JUMP (owned by Lime), JCDecaux Group, Grab Holdings Inc., Bay Wheels (formerly Ford GoBike), Divvy, Citi Bike, Capital Bikeshare, and BIXI.