According to a new report published by Pristine Intelligence LLP, titled, “Bike Sharing Market by Application and Packaging Type: Australia Opportunity Analysis and Industry Forecast, 2022–2030.
Australian bike-sharing market size was valued at $66.48 million in 2022, and is projected to reach $89.59 million by 2030, registering a CAGR of 3.8% from 2022 to 2030. Australia bike sharing is a system that allows people to rent bicycles for short-term use, providing a convenient and eco-friendly way to navigate cities. Bikes are typically stationed at various locations throughout the city, and users can easily rent them using a dedicated smartphone app. This form of transportation has gained popularity for several reasons, including its sustainability, affordability, and positive impact on public health and traffic congestion.
One of the major benefits of bike sharing in Australia is its eco-friendliness. By using bicycles instead of motor vehicles, bike sharing helps reduce carbon emissions and contributes to a greener environment. As more people opt for this sustainable mode of transportation, it aids in the overall efforts to combat climate change and promote a cleaner and healthier planet.
The increasing focus on sustainable transportation solutions due to environmental concerns and the need to reduce carbon emissions has led to a growing demand for alternative modes of transport like bike-sharing. As cities aim to become more eco-friendly and promote healthier lifestyles, bike-sharing services offer a convenient and environmentally conscious option for both residents and visitors.
The rise of smart technology and mobile apps has revolutionized the bike-sharing experience, making it more accessible and user-friendly. With the integration of GPS tracking, payment systems, and real-time availability updates, bike-sharing companies can offer seamless and efficient services, attracting a broader customer base. This technological advancement also allows for data-driven insights and optimization, enabling operators to better understand user behavior and preferences, thus improving the overall service quality and customer satisfaction.
Global Bike Sharing Market, Segmentation
The Bike Sharing market is segmented based on Bike Type, Sharing System, User Type, and region.
Bike Type:
E-bikes offer assisted pedaling, allowing users to cover longer distances and tackle hilly terrains with ease. This convenience and efficiency make e-bikes an appealing option for both short commutes and leisurely rides. With the growing emphasis on time-efficient transportation, e-bikes provide a practical solution for urban mobility.
Greater Adoption in Urban Areas: E-bikes are particularly well-suited for urban environments, where users often face longer distances between destinations. The electric assistance reduces the effort required, making e-bikes an attractive alternative to traditional bicycles or motor vehicles. In congested cities with limited parking space, e-bikes provide a flexible and convenient mode of transportation.
Sharing System:
In the Australian bike-sharing market, docked-sharing systems represent a popular and practical solution for urban mobility. These systems involve bicycles being stationed at designated docking stations throughout cities or neighborhoods. Users can easily access these bikes by unlocking them from the docks using a mobile app or a membership card. After use, riders return the bikes to any available docking station, ensuring a seamless and organized sharing experience.
The docked sharing system offers several advantages, such as guaranteed bike availability at designated locations, making it convenient for users to find and return bikes without hassle. Additionally, the docking stations often feature amenities like bike repair tools, maps, and information, enhancing the overall user experience and encouraging more people to adopt cycling as a mode of transportation.
Country:
New South Wales is the most populous state in Australia, with Sydney being its capital city. The high population density in this region translates to a large and diverse customer base for bike-sharing services. With more potential users in densely populated areas, bike-sharing operators can expect higher demand for their services, contributing to the market's dominance. Sydney boasts an extensive and well-developed public transportation system, including buses, trains, and ferries. Bike-sharing services integrate seamlessly with existing transit options, providing commuters with convenient last-mile connectivity.
Some of The Leading/Active Market Players Are-
- Mobike
- Ofo
- Lime
- Neuron Mobility
- Beam
- Jump
- Mevo
- Airbike
- BYKKO
- Bluebikes
- Reddy Go
- Geobike
- Deezi
- Treadlie Bike Share
- Pedal Power
- com.au
- Red Bike
- CityCycle and Other Active Players
Key Industry Developments
- In February 2022, Beam, announced that it had raised $93 million in a Series B round to accelerate growth into new countries in Asia. The funding round was led by Affirma Capital, with participation from Sequoia Capital India, Hana Ventures, ICT Capital, EDB Investment (EDBI), AC Ventures, RTP Global, and Momentum Venture Capital.
- In September 2021, To support customers with lower incomes and increase access to transportation, Lime announced the expansion of its "Lime Access" program to Australia and New Zealand. This program will offer reduced trips of at least 50%. The program's objective was to lower obstacles for marginalized populations by offering reasonably priced micro-mobility solutions.
Key Findings of the Study
- The Australian bike-sharing market is projected to grow steadily, reaching $89.59 million by 2030, driven by increasing awareness of sustainability and eco-friendly transportation options.
- E-bikes and docked-sharing systems are key drivers of this growth, offering efficient urban mobility solutions and catering to the preferences of a diverse customer base, especially in densely populated areas like New South Wales.
- E-bikes are gaining traction for urban commutes due to their time efficiency and ability to navigate hilly terrains, contributing to the market's expansion.
- Docked-sharing systems in cities like Sydney offer seamless access to bicycles, enhancing user experience and integrating well with existing public transportation networks, driving market growth.
