Global Bike and Scooter Rental Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about CAGR 18% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Bike and Scooter Rental Market: Overview
Bike and Scooter Rental Market growth is defined by the massive demand of ridesharing activities globally in forecasted period. The constructive Economic growth of shared small vehicles has estimated for low brake even point for Global Bike and Scooter Rental Market. The rental industry is expanding further prompt expansion of the market in estimated period. Shared Bike and Scooter market is defined as shared micro mobility. The US, Europe and China region automotive sector is anticipated to grow at a faster rate.
Global Bike and Scooter Rental Market: Service Type
By Service Type, the Global Bike and Scooter Rental Market is segmented into pay as you go and Subscription-based. The Global Bike and Scooter Rental Market is majorly driven by Pay as you go market is expected to grow due to convenience it offers to customers. Pay as you go market is growing with a CAGR of XX%. The Subscription-based Global Bike and Scooter Rental Market are growing as the rental service is providing discount coupons offers to the monthly customers. These will create customer base in future market.
Global Bike and Scooter Rental Market: Development
Ofo, China-based bike sharing company included ecommerce features on their app in February 2020. Cash back and discount offered by company using their ecommerce features and deposit free Bike and Scooter Rental service. Grab Holdings Inc, Singapore, February 2020, Grab Holding ridesharing company announced acquisition of Bento. This acquisition is formed to expand Grab services and increase wealth management and increase investment by merchant partners and driver partner.
Global Bike and Scooter Rental Market1
Global Bike and Scooter Rental Market: Drivers and Restraints
Increasing pollution concern is growing necessity for convenient and easy solution such as rental bike and scooter market.
The electric vehicle is the major segment growing in rental scooter market due to its low maintenance and operational cost driving the Global Bike and Scooter Rental Market.
Pay as you go type service provide convenience to customer to get service as they need, and frequent user can save major cost by this service.
The Bike and Scooter Rental service provider gives discount coupons to the regular customers to get customer base intact and gather new customer by this offering.
The major threat to the small Bike and Scooter Rental service provider is from major vehicle manufacturers as they are also expected to get into this market and offer their services in some region.
Global Bike and Scooter Rental Market: Regional Overview
Global Bike and Scooter Rental Market is segmented region-wise into Asia Pacific, North America, Europe, South America and Middle East & Africa. The Asia Pacific market is the largest market for the rental bike and scooter service, owing to growth in China, India, South Korea, and Japan. Governments are taking initiatives and promoting renewable energy use in order to reduce pollution which is driving the electric vehicle segment in Bike and Scooter Rental Market in this region. Lower cost of operation and low maintenance offered by electric vehicle is best choice for micro mobility increasing market growth rate.
Global Bike and Scooter Rental Market: Segmentation
Global Bike and Scooter Rental Market is segmented into By Propulsion (Pedal, Electric, Gasoline, Other Propulsion), By Service Type (Pay as you go, Subscription-based), By Vehicle Type (Bike, Scooter, Other Vehicle Type), By Operational Model (Dockless, Station-Based) and Region (North America, Europe, Asia pacific, Middle East & Africa, and Latin America). The Dockless type operational model is majorly growing in Global Bike and Scooter Rental Market with XX% CAGR. By Vehicle type segment scooter is leading and expected to grow with 45% CAGR.
The report also helps in understanding Bike and Scooter Rental Market dynamics, structure by analyzing the market segments and projects the Bike and Scooter Rental Market size. Clear representation of competitive analysis of key players by Supply Chain, price, financial position, Product portfolio, growth strategies, and regional presence in the Bike and Scooter Rental Market make the report investor’s guide.
Scope of the Bike and Scooter Rental Market
Bike and Scooter Rental Market, By Propulsion
• Other Propulsion
Bike and Scooter Rental Market, By Service Type
• Pay as you go
Bike and Scooter Rental Market, By Vehicle Type
• Other Vehicle Type
Bike and Scooter Rental Market, By Operational Model
Bike and Scooter Rental Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in Bike and Scooter Rental Market
• Grow Mobility
• Lyft Inc
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