PUBLISHER: The Business Research Company | PRODUCT CODE: 1596996
PUBLISHER: The Business Research Company | PRODUCT CODE: 1596996
A bicycle subscription is a service model that enables individuals to rent bicycles regularly, usually through a monthly or annual plan. This approach provides flexibility and convenience, allowing users to utilize a bike without the responsibilities of ownership, often including maintenance and insurance within the subscription fee.
The primary types of bicycle subscriptions encompass weekly, monthly, yearly, and one-way passes. Weekly subscriptions permit customers to rent bicycles for short periods, specifically one week at a time, making it perfect for those needing a bike for particular events or trips without a long-term commitment. The available bicycle types include roadsters, children's bikes, premium models, and e-bikes, with fleet locations catering to personal and dedicated use cases. The end users include both individuals and enterprises.
The bicycle subscription market research report is one of a series of new reports from the business research company that provides bicycle subscription market statistics, including bicycle subscription industry global market size, regional shares, competitors with an bicycle subscription market share, detailed bicycle subscription market segments, market trends and opportunities, and any further data you may need to thrive in the bicycle subscription industry. This bicycle subscription market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bicycle subscription market size has grown strongly in recent years. It will grow from $68.23 billion in 2023 to $74.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The increase during the historical period can be linked to rising urbanization, heightened environmental consciousness, climbing fuel costs, improvements in bicycle technology, governmental incentives, and a surge in the demand for alternative modes of transportation.
The bicycle subscription market size is expected to see strong growth in the next few years. It will grow to $105.24 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. In the forecast period, growth is expected to stem from the expansion of urban mobility solutions, technological innovations in e-bikes, a growing consumer inclination towards subscription models, a stronger emphasis on sustainability, government backing for eco-friendly transport, and the rise of last-mile delivery services. Key trends during this period include the growing adoption of smart bike technologies, the extension of subscription services into new regions, integration with public transport systems, an increase in tailored subscription plans, a rise in data-driven bike management, and an improved user experience through app-based platforms.
The increasing adoption of cycling as an eco-friendly commuting option is expected to drive the growth of the bicycle subscription market. This trend involves choosing bicycles over motor vehicles for daily travel, which helps reduce greenhouse gas emissions and alleviate traffic congestion. The surge in cycling is fueled by heightened environmental awareness and the need to lower carbon emissions from transportation. Additionally, enhanced urban infrastructure, including expanded bike lanes and bike-sharing programs, has made cycling more accessible and convenient for everyday use. Bicycle subscription models facilitate this shift by offering affordable and flexible bike access, making it easier for people to incorporate cycling into their daily routines. For example, a report from the Bureau of Transportation Statistics in May 2023 indicated a significant increase in bicycle imports, with the total value of non-motorized bicycle imports rising over 18,000% from $0.5 million in March 2020 to $1.0 billion in February 2023, adjusted for inflation. Thus, the growing embrace of cycling as an eco-friendly commute is propelling the bicycle subscription market.
Key players in the bicycle subscription market are focusing on developing location tracking and route optimization systems within their apps to offer cyclists real-time route guidance and enhance travel efficiency. In-app navigation utilizes advanced mapping and routing technologies, providing users with accurate and tailored navigation experiences. For instance, in June 2023, Cowboy, a Belgium-based e-bike provider, launched an upgraded in-app navigation feature by integrating Google Maps into its e-bike system. This enhancement offers riders bike-specific routes and real-time data on speed and battery life. Available for iOS and soon for Android users, this update aims to improve urban cycling experiences through better navigation. Cowboy has also introduced innovative features such as wireless charging and adaptive power technology, enhancing both functionality and sustainability in their e-bikes.
In July 2023, Bike Club, a UK-based bike subscription service, acquired Bicircular for an undisclosed amount. This acquisition allows Bike Club to expand its footprint in the European family cycling market and meet the rising demand for children's bike rentals in Spain. The move aligns with both companies' commitment to sustainability by promoting a circular economy model, minimizing waste, and maximizing bike utilization. Bicircular is a Spain-based platform focused on providing bicycles specifically for children.
Major companies operating in the bicycle subscription market are LimeBike Inc., Swapfiets B.V., Dance Mobility GmbH, Hurrecane Ltd, Brompton Bicycle Ltd., Cowboy Bikes, JUMP Bikes Inc., Capital Bikeshare, Mobi by Shaw Go, CycleOn, Zoomo Pty Ltd, Revel Transit, Dash Mobility, Moby Bikes Ltd., Stromer AG, BIXI Montreal, Fort Wayne Bike Share, CYCLE Mobility Holding GmbH, Buzzbike Ltd., Friiway, Spinlister Inc., Yulu Bikes Pvt Ltd, Cyclocity
North America was the largest region in the bicycle subscription market in 2023. The regions covered in the bicycle subscription market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bicycle subscription market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bicycle subscription market includes revenues earned by entities by providing services such as fleet management software, mobile applications for bike rentals, customer management systems, and data analytics services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bicycle Subscription Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bicycle subscription market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bicycle subscription ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bicycle subscription market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.