– The bicycle subscriptions market research carried out by Fact.MR offers compelling insights into the drivers and restraints impacting the growth trajectory to 2031. The report studies various trends and opportunities affecting the demand in major segments including bike type, subscription type, end user and region.
NEW YORK, 20 October 2021 / PRNewswire / – According to the latest market analysis by Fact.MR, a provider of market research and competitive intelligence, the global bicycle subscription market is likely to experience healthy growth during the forecast period. According to Fact.MR, the global bicycle market was 58 billion US dollars in 2020. With the demand for bicycles expected to increase significantly in the coming years, companies operating in the bicycle subscription market are expected to experience higher growth.
The emphasis on environmentally friendly mode of transportation and the growing adoption of cycling as the preferred mode of transportation for leading a healthy and fit lifestyle will drive the demand for bicycle subscriptions globally.
Subscriptions are seen as a more economical option to personal ownership. The charge of ownership, maintenance, insurance and the threat of theft are covered by the service provider, while the customer only has to purchase the bike and pedal it to the respective destination. .
Bike subscriptions are in high demand because they allow people to enjoy daily bike rides without the expense of purchase or maintenance. This not only saves money, but also helps to minimize carbon emissions. With the growing popularity of bicycle sharing platforms, the bicycle subscription market is expected to expand rapidly during the forecast period.
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Various developed countries encourage citizens and tourists to use bicycles to get around. Government agencies encourage electromobility to reduce pollution. As a result, zero emission vehicles are increasingly promoted through attractive incentives and programs.
According to Fact.MR, rental of electric bikes is expected to accelerate during the forecast period. As these electric bikes are very expensive, people are showing a great interest in renting them by subscription. According to the report, Europe will emerge as a very lucrative market for bicycle subscription supported by increasing bicycle sales.
“The growing penetration of bike sharing and subscription applications around the world makes bike subscription more attractive to millions of customers. The main players in the market are introducing attractive packages to appeal to customers. This will have a positive impact on the market,“, explains Fact.MR analyst.
Key takeaways from the bicycle subscription market research
- The bicycle subscription market in Europe is experiencing strong growth thanks to increased production of electric bicycles and supportive government policies.
- Germany in Europe and the United States in North America will spearhead the expansion of the bicycle subscription market.
- With the growing penetration of electric bikes and the presence of key market players, China is likely to record a period of forecast high growth.
- Major market players are focused on expanding their presence in India capitalize on unmet demand and supportive government policies.
- Post-pandemic changes in cycling trends, expanding penetration in emerging countries and increasing ridership will drive growth.
- Strong production of bicycles in South East Asia catapulted India at the forefront of the bicycle subscription market. Strong demand for India will continue to support market growth.
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Key companies operating in the bicycle subscription market are focused on expanding their product portfolio. They also offer attractive offers to appeal to consumers. For example:
- In February 2021, the electric moped rental company Revel introduced a 99 USD-a monthly subscription to an electric bicycle for New York residents. For 99 USD per month, interested customers can have a sleek e-bike made by New York-based e-bike company Wing delivered right to their doorstep.
- In August 2021, the German start-up Dance launched its subscription service for electric bikes in Berlin. For a monthly fee of € 79 (approximately 93 USD), users will benefit from a customer-designed electric bicycle as well as access to an on-demand repair and maintenance service.
Some of the major players operating in the bicycle subscription market presented by Fact.MR are:
- Bike club
- Brompton subscription
- To dance
- Get Henry
- MOBY BIKES LTD.
- To delight
More information on the global outlook for the sale of bicycle subscriptions
Fact.MR provides an unbiased analysis of the Bicycle Subscription market, presenting historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The study reveals compelling information on the global demand for bicycle subscriptions with detailed segmentation on the basis of:
Type of bike
- electric bikes
- One way pass
- The universities
- Last mile delivery
- Hotels and resorts
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Answered In The Bicycle Subscription Market Outlook Report
- Report provides insight into bicycle subscription demand outlook for 2021-2031
- The market research also highlights the predicted sales growth for the bicycle subscription market between 2021 and 2031.
- The Bicycle Subscriptions market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancements within Of the industry
- Analysis of the bicycle subscription market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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