Ocean View, DE -- (SBWIRE) -- 05/05/2020 -- North America bike sharing market is slated to witness a notable growth at 10% CAGR by 2025. In June 2019, Madison BCycle had announced the replacement of its conventional bikes over e-bikes in the U.S. and it had been observed that working professionals in various cities including Chicago and New York had opted these e-bikes in large number.

According to the National Association of City Transportation Officials (NACTO) around 35 million shared trips were engaged in the U.S. in 2017 that is nearly 25% more than in 2016. Such rising trends in terms of user demand and system availability will positively boost global bike sharing market outlook.

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Major Key Companies present in the bike sharing market are Bixi, Capital Bikeshare, Citi Bike NYC, Divvy, Ford GoBike, GrabTaxi Holdings Pte Ltd., JCDecaux Group, JUMP, Lime, Lyft, Inc., Mobike, ofo Inc., SG Bike, Spin, Tembici, Youon Bike.

Rising environmental concerns along with the implementation of government regulation will outline bike sharing market trends over the forecast period. Rapid modernization and urbanization has caused major traffic problems that has been associated with safety risks, air pollution, economic competitiveness, loss in relation with accessibility and sustainable growth. Bike sharing schemes offer transport flexibility, reduced congestion as well as fuel congestion and reduction in harmful emissions.

Increasing health consciousness among people owing to the rise in health conditions as a result of living a sedentary lifestyle will contribute towards expanding bike sharing market share. Bikes play a major role in leading a healthy lifestyle and exhibit some key health benefits. The benefits of biking comprises flexible joints, stronger bones, lower body fat levels, improved cardiovascular fitness as well as reduced anxiety and stress levels.

Over the past few years, station-based bike sharing system has become a notable tech trend and introduced to many cities globally, encouraging more bicycles and promoting healthy environment. Companies are consistently working towards installing various novel sharing stations at different public locations to expand their footprint and provide customers bikes at convenient locations.

Service providers are enhancing the utility of station-based bike-sharing systems which would help in reducing congestion and play a vital role in urban sustainability and green mobility. In August 2018, Divvy Bikes had announced the installation of 30 new stations in the Chicago area including Englewood, River North, and Ukrainian Village.
Furthermore, these station-based model solves the major concerns like loss from theft or vandalism and provide better security options. Since the launch of bike sharing systems, the station-based service segment has experienced explosive growth due to considerable flexibility and affordability.

The demand for conventional bikes is proliferating day by day owing to their low maintenance costs and longer life in terms of time and distance. With the propagation of consumer-ready mobile payments, GPS technology, IoT, and AI, service providers are making huge investments for the implementation of these technologies in conventional bikes.

These services have begun gaining traction in Asia Pacific and Latin America countries including China, India, and Brazil due to the rising congestion and fuel consumption along with the unavailability of infrastructure and large investments for the adoption of e-bikes.

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Companies and startups are offering lucrative discounts to customers for capturing a significant share in the bike sharing market and also adding multi-gear technology in the vehicles so that a commuter can change the riding speed as per the terrain, increasing their comfort level and riding proficiency.

Similar moves by numerous service providers and companies will positively impact bike sharing market trends.

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