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The Bike and Scooter Rental Market is Predicted to Reach an Estimated Value of USD 11,040 Million by 2028, with a 20.01% Market Growth Rate from 2021 to 2028

Bike and Scooter Rental refers to renting or hiring a bike, cycle, or scooter for a certain period of time. For renting a mobility vehicle, the user pays on an hourly basis; the payment can be done in advance immediately before using the car or the payment can be made on a subscription basis. Users can locate the nearest parking stand to pick up a car and drop it off at the nearest parking stand to his destination. The mobile application allows the user to access these rental services. The demand for cost-effective modes of transportation is increasing.

Key findings:

This bike and scooter rental market report covers new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, and so on.

Market overview:

The bike and scooter rental industry is divided into four segments: operating model, propulsion, service, and vehicle type. The growth among segments allows you to analyse unique pockets of growth and market approaches, as well as define your primary application areas and the difference in your target markets. During 2021-2028, Asia-Pacific is expected to grow at the fastest CAGR in the worldwide bike and scooter rental market. By 2028, Asia-Pacific is expected to be the largest market for this service. It is because Asia-Pacific is the largest market for automobile industry, and many emerging nations, such as China and India, are increasingly embracing these services.

Regional analysis:

The bike and scooter rental market is examined, and market size and volume data are supplied by nation, operating model, propulsion, service, and vehicle type, as previously said. The countries covered in the global bike and scooter rental market report are the United States, Canada, and Mexico in North America, Brazil, Argentina, and the Rest of South America as part of South America, Germany, Italy, the United Kingdom, France, Spain, the Netherlands, Belgium, Switzerland, Turkey, Russia, and the Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and the Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi (MEA).

Competitive landscape:

Among the major players covered in the bike and scooter rental market report are CITYSCOOT, Lime, JUMP by Uber, Bird Rides, Inc., ofo Inc., COUP Mobility GmbH, Mobycy, Vogo rentals, nextbike GmbH, Lyft, Inc., Motocruizer Technologies India Pvt.Ltd., Mobike, Spin, eCooltra, Bolt Bikes, Yulu Bikes Pvt Ltd, Global, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America market share statistics are accessible individually. To remain competitive, many corporations are working on internationally extending their distribution networks. Aside from this, the emphasis is on the development of new goods and collaborations.

Recent developments:

Start-ups are offering e-bike rentals because of the coronavirus incident. Lime and Bird have halted their services in several urban areas across Europe and beyond. Lime also drives its bikes and scooters down major thoroughfares in the United States and Canada.

Jump, Uber's purported scooter and bicycle rental company, is receiving a facelift. The bike-sharing company revealed the next phase of its electric-powered bikes. The assumption is that these new technology bikes will accelerate Uber's effort to dominate the micro-mobility industry, which is getting increasingly serious and expensive to investigate. 

Ojo, a California-based electric bike business, has announced its intention to acquire Gotcha, a motorbike and scooter rental service. It's just another indication that the mutual micro-mobility market is oversaturated and in need of consolidation.