North America Bike Sharing Market Research Report 2023

North America Bike Sharing Market Synopsis

North America Bike Sharing Market Size Was Valued at USD 2,168.40 Million in 2022, and is Projected to Reach USD 3312.7 Million by 2030, Growing at a CAGR of 5.33% From 2023-2030.

Bike sharing also referred to as bicycle sharing or bike rental, offers a transportation solution where people can access bicycles for short-term use. This system operates through self-service kiosks or stations spread across a city or region. Individuals can rent bikes for varying durations, usually from a few minutes to several hours, by paying through memberships, apps, or designated stations.

• Bike sharing has a wide range of uses. It is an economical and environmentally beneficial mode of transportation that encourages physical exercise and leads to better lives. For short-distance commuting, commuters frequently choose bike sharing, which eases traffic congestion and lowers emissions in urban areas. These services are also helpful to travellers who want to conveniently and sustainably explore cities.
• There are many advantages to sharing a bike. It encourages environmentally friendly mobility, which helps reduce air pollution and carbon emissions. By providing commuters with an easy last-mile option to get from public transportation stations to their ultimate destinations, it improves urban mobility. Initiatives for bike sharing also promote physical activity, which enhances public health and lowers sedentary behavior.
• Furthermore, these initiatives can benefit regional economies by drawing tourists and reducing dependency on traditional modes of transportation. However, obstacles like maintaining bikes, building infrastructure, and guaranteeing equitable access remain major concerns for bike-sharing programs' continued success and global expansion.

North America Bike Sharing Market Trend Analysis:

Growing demand for E-Scooters

• The surge in the popularity of e-scooters has become a major driving force behind the expansion of the North America bike-sharing market. Several key factors are contributing to the increasing demand for these electric scooters, which in turn is reshaping the dynamics of the bike-sharing sector.
• One major factor contributing to e-scooters' growing appeal is their versatility and ease of use. In urban environments, these electrically driven scooters provide users with an easy-to-use and effective way to travel short to medium distances. Their dexterity and capacity to maneuver through crowded spaces make them a desirable option for commuters looking for quick and eco-friendly modes of transportation.
• Furthermore, the widespread availability of smartphone applications that make renting and using e-scooters simple has greatly increased their attractiveness. With the help of these apps' intuitive user interfaces, people can find, unlock, and pay for e-scooter rentals with ease. The need for these micro-mobility solutions has increased due to increased user acceptance fueled by convenience.

• E-scooters are becoming more and more popular as an environmentally friendly transportation option as a result of the growing emphasis on sustainability and the need to reduce carbon emissions. As part of their sustainable mobility initiatives, governments and city administrations are progressively supporting the usage of electric vehicles, including e-scooters. Their demand and integration into the transportation ecosystem have increased even more as a result of this endorsement.
• Within the world of bike sharing, users now have more alternatives to the integration of e-scooters into shared mobility networks. Businesses that provide bike-sharing services have added e-scooters to their fleets in a calculated move to broaden their product offerings and draw in a larger user base of people looking for different ways to get around.

The Evolution of Subscription-Based Bike-Sharing Services

• The bike-sharing landscape in North America has undergone a significant transformation thanks to the integration of subscription-based models, offering monthly or annual memberships to frequent users. This shift has presented a remarkable opportunity, fundamentally changing how people interact with and perceive urban transportation.
• The incorporation of subscription models has played a pivotal role in propelling market growth by encouraging consistent and frequent utilization of bike-sharing services. Annual or monthly memberships cater to a wide array of user demographics, presenting them with convenient and cost-effective transportation options. Notably, commuters heading to work or students navigating sprawling campuses find these memberships economically advantageous and hassle-free compared to conventional transport modes.
• This approach based on subscriptions provides users with flexibility, allowing them convenient access to bikes at their preferred times, thereby fostering a more habitual use of bike-sharing services. Moreover, these models often offer additional benefits like priority bike access, discounts on affiliated services, and exclusive events, bolstering their overall appeal.
• The reception of subscription models within the market has been overwhelmingly positive, evident in the substantial rise in user adoption rates. Given the persistent focus on sustainability and the promotion of eco-friendly transportation methods, bike-sharing subscription services perfectly align with the societal shift towards reducing carbon footprints and embracing healthier lifestyles.

North America Bike Sharing Market Segment Analysis:

By Type, Traditional segment dominates the market during the forecast period

• In the sphere of bike sharing in North America, traditional bicycles currently command a market share of roughly 60–70%. Multiple variables lead to their prevailing status. First off, in comparison to their e-bike equivalents, traditional bikes are more affordable and require less maintenance during their longer lifespans.
• Bike-sharing operators seeking environmentally friendly choices find this pricing to be quite appealing. Conventional bikes also appeal to a larger variety of riders because they radiate accessibility and familiarity. Their uncomplicated style and ease of use appeal to a wide range of consumers, ensuring their continued supremacy in the industry. Furthermore, traditional bike-sharing businesses continue to have far lower operating expenses, which supports their dominant position in the market.
• Due to this, in the North American bike-sharing market, both suppliers and riders continue to favor the traditional portion of the market, even despite the increasing popularity of e-bikes.

By Application, the Dockless segment held the largest share of 62% in 2022

• The prevalence of dockless bike systems stems from several compelling reasons. Foremost among them is their cost-effectiveness, as they do not rely on expensive docking stations, reducing operational and maintenance expenses for bike-sharing companies.
• The widespread adoption of dockless bikes is also due in part to their flexibility and convenience, offering riders accessibility throughout urban areas without the constraint of returning them to specific locations, granting users more flexibility in their biking experience.
• Moreover, the impressive scalability of dockless systems enables bike-sharing services to effortlessly extend their reach into new territories without substantial infrastructure investments, solidifying their status as the preferred choice for both providers and riders within the North American bike-sharing market.

North America Bike Sharing Market Regional Insights:

U.S. Holds the lead with around 74% of the continent's bike-sharing fleet. Major cities like New York, Chicago, and Washington D.C. boast extensive programs.

• The United States stands out in the bike-sharing domain for several reasons. Firstly, its larger population and higher urbanization density compared to its North American counterparts, Canada and Mexico, contribute significantly to the dominance of bike-sharing initiatives. The greater population density in urban areas fosters a more extensive user base and increased demand for alternative transportation solutions, making bike-sharing programs more viable and attractive.
• The United States boasts a more established bike-sharing infrastructure, supported by the presence of major industry players like Lyft, Citi Bike, and Lime. These companies have established a robust presence in various cities, offering a wide range of bike-sharing services, thereby consolidating the market.
• The United States demonstrates a higher level of government support and investment in cycling and sustainable transportation initiatives. This commitment from governmental bodies encourages the growth and development of bike-sharing programs, fostering a conducive environment for their continued dominance within the nation's transportation landscape.

North America Bike Sharing Market Top Key Players:

• Capital Bikeshare
• Divvy
• Citi Bike
• BIXI Montréal
• Bluebikes
• Lime
• Jump
• Motivate LLC
• Lyft, Inc.
• Spin
• Ford GoBike
• BCycle
• Zagster
• Donkey Republic
• Bike Share Toronto
• Other Major Players