According to a new report published by AkVis Intelligence, titled, “North America Bike Sharing Market by Application and Packaging Type:  Opportunity Analysis and Industry Forecast, 2024–2032,” the North America Bike Sharing Market size was valued at $ 2283.98 million in 2023, and is projected to reach $ 3672.82 million by 2032, registering a CAGR of 5.42% from 2023 to 2032. Bike sharing, also called bike sharing or bike rental, offers a transportation solution where people can use bikes for short-term use. This system works through self-service kiosks or stations located in different parts of the city or region. Individuals can rent bicycles for various periods of time, usually from a few minutes to several hours, paying through membership fees, programs or designated stations.  

Bike sharing has a wide range of applications. It is an economical and environmentally friendly means of transport that promotes movement and leads to a better life. For short distances, commuters often opt for bike sharing, which eases traffic congestion and reduces emissions in urban areas. These services are also useful for travelers who want to explore cities comfortably and sustainably.

There are many benefits to sharing a bike. It promotes ecological mobility, which helps reduce air pollution and carbon dioxide emissions. By providing commuters with an easy last-mile option to reach their most distant destinations from public transport stations, it improves urban traffic. Cycling initiatives also promote physical activity, which improves public health and reduces sitting.

The rise in popularity of electric scooters has become a major driver for the expansion of the North American bike sharing market. Several key factors are contributing to the growing demand for these electric scooters, which in turn are shaping the dynamics of the bike-sharing sector. One factor contributing to the growing appeal of e-scooters is their versatility and ease of use. In urban environments, these electric scooters offer users an easy-to-use and efficient way to cover short to medium distances. Their flexibility and ability to navigate congested spaces make them a desirable choice for commuters looking for fast and environmentally friendly means of transportation.

The widespread availability of smartphone apps that facilitate the rental and use of e-scooters has greatly increased their appeal. The intuitive user interfaces of these apps allow people to easily find, unlock, and pay for an e-scooter rental. The need for these micro mobile solutions has increased due to increased user acceptance supported by ease of use.

The North American bike-sharing scene has seen significant change thanks to the integration of subscription-based models that offer monthly or annual memberships to frequent users. This change presented a significant opportunity as it fundamentally changed the way people interact and view urban transport. The inclusion of subscription models played a key role in driving market growth by encouraging consistent and frequent use of bike-sharing services. Annual or monthly memberships cover a wide range of user demographics and provide them with convenient and cost-effective transportation options. In particular, commuters going to work or students moving around large campuses find this membership more economical and hassle-free compared to traditional modes of transportation.

 North America Bike Sharing Market, Segmentation

The North America Bike Sharing Market is segmented based on type, Sharing Type, Model, and region.

Type:

The type segment is further classified into Traditional Bike, E-bike. Among these, the Traditional Bike sub-segment accounted for the highest market share in 2023. The North American bike-sharing scene has seen significant change thanks to the integration of subscription-based models that offer monthly or annual memberships to frequent users. This change presented a significant opportunity as it fundamentally changed the way people interact and view urban transport. The inclusion of subscription models played a key role in driving market growth by encouraging consistent and frequent use of bike-sharing services. Annual or monthly memberships cover a wide range of user demographics and provide them with convenient and cost-effective transportation options. In particular, commuters going to work or students moving around large campuses find this membership affordable and convenient compared to traditional modes of transportation.

Sharing Type:

The Sharing Type segment is further classified into Docked, Dockless, Hybrid. Among these, the Dockless sub-segment is anticipated to show the fastest growth by 2032. The prevalence of docked bicycle systems is due to several compelling reasons. The most important of them is their cost-effectiveness, as they do not rely on expensive docks, which reduces the operational and maintenance costs of bicycle parts. The widespread use of dock bikes is also partly due to their flexibility and comfort, which ensures accessibility for the driver. unlimited across urban areas return them to specific locations, offering users greater flexibility in their cycling experience.

Region:

The North America Bike Sharing Market in US is projected to show the fastest growth by 2032. The US stands out in the bike-sharing space for a number of reasons. First, its larger population and higher urbanization density compared to its North American counterparts Canada and Mexico contribute significantly to the dominance of bike-sharing initiatives. Higher population density in urban areas increases the user base and demand for alternative transportation solutions, which makes bike-sharing programs more viable and attractive. The US has a well-established cycling infrastructure supported by major industry players such as Lyft, Citi Bike and Lime. These companies have a strong presence in several cities and offer a wide range of bike-sharing services, thus strengthening the market.

Some of The Leading/Active Market Players Are-

• • Capital Bikeshare (US)
  • Divvy (US)
  • Citi Bike (US)
  • BIXI Montréal (Canada)
  • Bluebikes (US)
  • Lime (US)
  • Jump (US)
  • Motivate LLC (US)
  • Lyft, Inc. (US)
  • Spin (US) and Other Active Players

Key Industry Developments

• • In December 2023, the US International Development Finance Corporation (DFC) and IDB Invest announced that they were co-investing a combined USD 23 million in equity in the micro-mobility platform Tembici to support the expansion of bicycle-sharing services in Latin America.
  • June 2022:Anywheel plans to deploy its bicycles in Ang Mo Kio, Pasir Ris, Punggol, and Tampines before the end of the year. The company has increased the locations it serves after receiving permission from the Land Transport Authority (LTA) to double the number of shared bicycles in its fleet to 30,000.

Key Findings of the Study 

• • The rise in popularity of electric scooters is a significant driver, with their versatility, ease of use, and integration with smartphone apps contributing to market growth.
  • Subscription-based models, offering monthly or annual memberships, have transformed user interactions with urban transport and are driving consistent and frequent use of bike-sharing services, particularly among commuters and students.
  • The Dockless sharing type segment is expected to experience the fastest growth by 2032, driven by its cost-effectiveness and flexibility in urban areas.