DUBLIN--(BUSINESS WIRE)--The "Bike Rental Market By Service Type, By Propulsion, By Operational Model, By Distance Travelled: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the bike rental market was valued at $2.1 billion in 2021, and is estimated to reach $11.3 billion by 2031, growing at a CAGR of 18.5% from 2022 to 2031.

The report incorporates the study of the global bike rental market that focuses on the bike rental service for short to medium distance commuting for a price or free. It is available at on-street docked or dock-less stations, allowing commuters to borrow a bike and return it at another station.

The bike rental companies offer the motorcycles/scooters as per the customer's requirement based on the hourly, daily, weekly, and monthly renting duration, along with additional facilities like panniers, helmets, riding gears, and many more.

For instance, in October 2020, Lime partnered with Hilton, a leading hotel in London, to help guests to see London safely. It offered hotel guests new to Lime the first 15 minutes of a JUMP ride free at all participating Hilton hotels, which was enough time to get to nearby attractions.

Also, regularly sanitized helmets were made available at the reception desk of each hotel. Moreover, bike rental services have also been cited to solve the last mile problem of public transit networks. These services are an innovative solution to the urban mobility challenges and effectively promote urban more sustainable and environmentally friendly mobility.

The factors such as rise in venture capital and strategic investments, increasing inclusion e-bikes in the rental fleet, and rise in demand for short-term rental services supplement the growth of the bike rental market.

However, high initial investment cost and rise in bike vandalism & theft are the factors expected to hamper the growth of the bike rental market. In addition, technological advancement in bike rental system and increasing government initiatives for the development of rental-bike infrastructure creates market opportunities for the key players operating in the bike rental market.

Key Benefits

• This study presents analytical depiction of the global bike rental market analysis along with current trends and future estimations to depict imminent investment pockets.
• The overall bike rental market opportunity is determined by understanding profitable trends to gain a stronger foothold.
• The report presents information related to the key drivers, restraints, and opportunities of the global bike rental market with a detailed impact analysis.
• The current bike rental market is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

By Service Type

• Pay as you go
• Subscription Based

By Propulsion

• Pedal
• Electric

By Operational Model

• Dockless
• Station-Based

By Distance Travelled

• Short Trip (Less Than 5 km)
• Medium Trip (5 km to 15 km)
• Long Trip (More Than 15 km)

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Bird Global Inc
• Bolt
• Bounce
• Cityscoot
• Cooltra
• Drivezy, Inc.
• Lime
• Lyft, Inc.
• Nextbike GmbH
• ONN Bikes
• SG Bike Pte Ltd
• Spin
• Tembici
• Uber Technologies Inc.
• Vogo Automotive Pvt. Ltd.
• VOI Technology
• Yulu Bikes Pvt Ltd

For more information about this report visit

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900