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Vietnam Bike Sharing Market To Reach USD 74.32 Million By Year 2030

The Vietnam Bike Sharing Market size was reasonably estimated to be approximately USD 56.90 Million in 2023 and is poised to generate revenue of over USD 74.32 Million by the end of 2030, projecting a CAGR of around 3.89% from 2023 to 2030.

Swati Kalagate
Service Industry
Pristine Intelligence LLP

Market Overview:

The Vietnam Bike Sharing Market size was reasonably estimated to be approximately USD 56.90 Million in 2023 and is poised to generate revenue of over USD 74.32 Million by the end of 2030, projecting a CAGR of around 3.89% from 2023 to 2030.

The bike-sharing market in Vietnam experienced steady growth in recent years, driven by increased awareness of environmental concerns, a desire for healthier and more sustainable transportation options, and efforts by cities to promote alternative mobility solutions.

Bike-sharing services were more prevalent and well-developed in major German cities such as Berlin, Munich, Hamburg, Cologne, and Frankfurt. These cities offered better infrastructure and demand for short-distance mobility, making them attractive markets for bike-sharing operators.

Operators provided various types of bicycles to cater to different user needs. These included traditional pedal bikes, e-bikes (electric bicycles), and even electric scooters in some cases. E-bikes gained popularity due to their ability to cover longer distances and ease of use, especially on hilly terrain.

Bike-sharing systems in Vietnam were a mix of docked and dockless setups. Docked systems required bikes to be picked up and returned to designated docking stations, while dockless systems allowed users to locate and unlock bikes through mobile apps and park them responsibly at the end of their trip.

 Top Key Players Covered in The Vietnam Bike-Sharing Market:

    • Deutsche Bahn (Germany)
    • Nextbike (Germany)
    • Donkey Republic (Denmark)
    • Lime (US)
    • Mobike (China)
    • Jump Bikes (US)
    • Byke (Germany)
    • Ofo (China)
    • Deezer Nextbike (Germany)
    • Call a Bike (Vietnam)
    • Swapfiets (Netherlands), and Other Major Players

 Market Dynamics and Factors:          

The youth and student population served as a significant driver for the growth and popularity of the bike-sharing market in Vietnam. Many students and young people often have limited financial resources and may not own private vehicles. Bike sharing provided an affordable and accessible transportation option, enabling them to move around the city without the expense of purchasing a bike or using other means of transportation.

The youth and student population frequently have a dynamic lifestyle, with frequent short trips to attend classes, run errands, or meet friends. Bike sharing offered a flexible and convenient solution for such short-distance travel needs, saving them time and effort.

Many students and young people prioritize health and physical well-being. Cycling through bike sharing offered an active mode of transportation, promoting physical exercise and contributing to a healthier lifestyle.

 The Vietnam Bike Sharing Market Report Highlight:

    • By Bike Type, E-bike segment E-bikes offer riders a convenient and efficient mode of transportation, particularly for urban commutes, with their pedal-assist functionality making cycling less strenuous and more accessible to a wider demographic
    • By Sharing System, the Dockless sharing system segment has emerged as the dominant force. This dominance can be attributed to several factors. Firstly, dockless systems offer greater flexibility and convenience to users, allowing them to pick up and drop off bikes at various locations without the constraint of fixed docking stations.

Key Industry Development:

In June 2023, In celebration of World Bike Day 2023, Dutch brand Swapfietss launched a bike amnesty campaign in London. The initiative aimed to encourage cyclists to hand in bikes that were surplus to their requirements, preventing them from ending up in landfills. Instead, the collected bikes would be used to create new bike racks through the reuse of materials, promoting a circular economy approach.

In May 2022, Lime piloted Google's augmented reality technology to improve e-bike and e-scooter parking, and the results were unveiled from the ongoing pilot run in collaboration with Google. The initiative aimed to assist e-bike and e-scooter riders in better identifying appropriate parking locations on streets and sidewalks.

The Vietnam Bike-Sharing Market Segmentation:

By Bike Type

    • Traditional Bike
    • E-bike By Component

By Sharing System

    • Docked
    • Dockless

By User Type

    • Tourists and Visitors
    • Regular Commuters

For this report, Pristine Intelligence Research has segmented the Vietnam Bike Sharing Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

 North America

    • The U.S.
    • Canada
    • Mexico

Eastern Europe

    • Russia
    • Bulgaria
    • The Czech Republic
    • Hungary
    • Poland
    • Romania
    • Rest of Eastern Europe

Western Europe

    • Germany
    • UK
    • France
    • Netherlands
    • Italy
    • Spain
    • Rest of Western Europe

Asia Pacific

    • China
    • India
    • Japan
    • Singapore
    • Australia
    • New-Zealand
    • Rest of APAC

Middle East & Africa

    • Turkey
    • Saudi Arabia
    • Qatar
    • UAE
    • Israel
    • South Africa

South America

    • Brazil
    • Argentina
    • Rest of SA
Pristine Intelligence LLP

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