Australia Bike Sharing Market Size, Share, and Demand Forecast by 2032

0
249

Australia Bike Sharing Market:

Australia’s market based bike-sharing solutions is anticipated to expand by 2032, driven by the increasing focus on reducing carbon footprints and promoting healthy transportation alternatives. Rising demand for electric and hybrid bikes will boost market share, with trends indicating growth in smart bike-sharing systems and expanding scope in major urban centers.

The global bike sharing market will reach USD 8.9 billion at a 9% CAGR by 2032, as per the new Market Research Future report.

Drivers 

Increasing Traffic Concerns to Boost Market Growth 

The increasing traffic concerns for the growing use of cars as well as innovations in various navigation technologies for ride sharing will boost market growth over the forecast period.

Opportunities 

Government Support Programs for EV Promotion to offer Robust Opportunities 

Government assistance programs & financial incentives have been established to promote electric vehicles, which are expected to open up new avenues of opportunity for this market during the forecast period. Furthermore, fossil fuel depletion is a critical issue that could be solved by developing a self-sufficient electric vehicle sector.

Get a free sample report of Bike Sharing Market

Key Players 

Eminent industry players profiled in the bike sharing market size report include Bluegogo (China), Dropbike (Canada), JCDecaux (France), Lyft, Inc (US), Mobike (China), Neutron Holding, Inc (US), Motivate (US), Jump Bikes (US), OFO (China), and Nextbike Berlin (Germany).

Restraints and Challenges 

Increase in Bike Theft and Vandalism to act as Market Restraint 

The increase in bike theft and vandalism coupled with high initial investment cost may act as market restraints over the forecast period. Besides, lack of needed public infrastructure of the bike sharing technology and high regulatory restrictions may also impede market growth.

Market Segmentation 

The global bike sharing market has been bifurcated based on bike, sharing system, and sharing duration.

By bike, e-bikes will lead the market over the forecast period. E-bikes, particularly pedelecs, are gradually becoming the ideal mode of transportation. E-bikes, such as pedelecs, are eco-friendly and reliable. Furthermore, they are an excellent mode of transportation, particularly for recreational activities, because they combine the fun of cycling with the convenience of a car. Furthermore, they give consumers the ability to ride on rough terrains that would otherwise be difficult to ride without an electrical motor, making e-bikes popular all over the world.

By sharing system, dockless will domineer this market in the assessment period. It was primarily due to an increase in the number of businesses opting for the dockless bike-sharing concept, which requires less capital and incurs less expenditure than a station-based system. Furthermore, users prefer dock-less bike-sharing due to its cost-effectiveness and convenient features, such as greater parking flexibility over the station-based system.

By sharing duration, short term will spearhead the market over the forecast period.

Regional Analysis 

APAC to Steer Bike Sharing Market 

The industry is expanding rapidly in the region as consumer preferences shift toward more energy-efficient transportation options. According to the Ministry of Transport (MoT), China has over 70 bike-sharing companies, 23 million bicycles, and over 400 million users throughout the region. Increased urbanization and a rapidly growing population in India and China are driving industry growth. For the large number of prospective customers in the region, several start-ups are investing in the Chinese market. Furthermore, approximately 30 Chinese cities, including Shanghai & Beijing, have implemented a number of regulations to guide bike-sharing maintenance, operation, and production, allowing service providers to remove damaged bikes from the existing fleet.

Read a insightful report:

Automotive Scissor Lift Market

Automotive Seat Covers Market

Automotive Jack Market

Automotive Digital Transformation Market

Automotive Chemicals Market

 

 

Rechercher
Catégories
Lire la suite
Domicile
Exploring the Growth Potential of the Calcium Malate Market in the Asia-Pacific Region
The global landscape has been significantly altered by the onslaught of the novel coronavirus,...
Par mayurgunjal20 2024-11-14 17:54:26 0 173
Jeux
Comment Gagner 100k Crédits Chaque Jour dans EA FC 25 !
Construire une équipe performante dans EA FC 25 nécessite un flux constant de...
Par Casey 2024-09-19 19:16:20 0 839
Networking
Europe Autonomous Driverless Cars Market Trends, Business Growth, Drivers 2032
Europe Autonomous Driverless Cars Market Forecast Overview: In the bustling streets of Europe, a...
Par Rubina 2024-10-03 08:50:00 0 656
Jeux
PMPS 2024 Season 2 - South Korea’s PUBG Mobile Esports
The official professional league for PUBG Mobile esports in South Korea, the PMPS 2024...
Par xtameem 2024-08-06 08:46:16 0 2KB
Jeux
Unlock the Value of EAFc Coins: Your Ultimate Guide to Acquiring FUT 25 Coins and Maximizing Your FUTCoins Experience
Unlock the Value of EAFc Coins: Your Ultimate Guide to Acquiring FUT 25 Coins and Maximizing Your...
Par Casey 2024-11-21 23:44:38 0 34