Australia Bike Sharing Market Research Report 2023

Australia Bike Sharing Market Synopsis

The Australia Bike Sharing is Expected to Grow at a Significant Growth Rate, and the Forecast Period is 2023-2030, Considering the Base Year as 2022.

• 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.
• Also, bike sharing positively impacts public health by encouraging physical activity. Riding bicycles regularly helps individuals stay active and fit, leading to potential improvements in cardiovascular health and overall well-being. Additionally, the increased use of bikes can help alleviate traffic congestion, as more people choose bikes over cars for short-distance commuting, leading to smoother traffic flow in urban areas.
• To use a bike sharing service in Australia, individuals need to download the respective company's app and create an account. Once registered, they can easily locate nearby bikes through the app's map feature and unlock the selected bike with a simple tap on their smartphone.

Top Key Players:

Mobike (China), Ofo (China), Lime (US), Neuron Mobility (Singapore), Beam (Singapore), Jump (US), Mevo (New Zealand), Airbike (Australia), BYKKO (Australia), Bluebikes (Australia), Reddy Go (Australia), Geobike (Australia), Deezi (Australia), Treadlie Bike Share (Australia), Pedal Power (Australia), sharebike.com.au (Australia), Red Bike (Australia), CityCycle (Australia), QTBIKES (Australia), eBikes Toowoomba (Australia), and Other Major Players.

The Australia Bike Sharing Market Trend Analysis

Increasing Demand for Sustainable and Eco-Friendly Modes of Transportation in Australia

• The increasing demand for sustainable and eco-friendly modes of transportation in Australia has emerged as a significant driver for the growth of bike sharing in the country. With a growing awareness of environmental issues and the need for sustainable solutions, individuals and communities are actively seeking transportation options that have a minimal impact on the environment.
• The increasing urbanization in Australia has brought about challenges related to traffic congestion and air pollution. In densely populated cities, bike sharing presents a practical solution for short-distance trips.
• The rising awareness of health and well-being further propels the demand for sustainable transportation options. Biking is not only an eco-friendly mode of transport but also promotes physical activity and better overall health. As Australians prioritize their well-being, bike sharing becomes an attractive choice for both commuting and leisure purposes.
• From a financial perspective, bike sharing is seen as a cost-effective option for short-distance travel. Compared to the expenses associated with owning and maintaining a private vehicle or using ride-hailing services, bike sharing offers a more economical alternative.

Partnerships with Other Businesses

• Partnerships with other businesses present a significant opportunity for the bike sharing market in Australia to thrive and expand its reach. By collaborating with diverse industries and organizations, bike sharing companies can unlock new customer segments and create synergistic benefits. One potential area for partnerships is with public transport operators. By working together, bike sharing services can complement existing public transit networks, providing commuters with convenient last-mile connectivity.
• Furthermore, the tourism industry offers promising opportunities for bike sharing companies. Partnering with hotels, tour operators, and popular tourist attractions can help promote bike sharing as an enjoyable and eco-friendly way for tourists to explore cities. Offering special packages or discounts for tourists using bike sharing services can incentivize their adoption and enhance the overall tourist experience.
• Another lucrative avenue for partnerships lies in corporate entities. By collaborating with businesses and corporations, bike sharing companies can encourage employees to choose bike sharing as a greener and cost-effective commuting option. Introducing corporate membership plans or employer-sponsored incentives can significantly increase bike usage during peak commuting hours.

Segmentation Analysis of The Australia Bike Sharing Market

Bike Sharing market is segmented into the Bike Type, Sharing System, and User Type. By Bike Type, the E-bike segment is Anticipated to Dominate the Market Over the Forecast Period.

• 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.
• Age and Fitness Inclusivity: E-bikes appeal to a wider demographic as they cater to individuals of varying fitness levels and age groups. The electric assistance ensures that even those with limited physical strength can comfortably use e-bikes for commuting and recreational purposes. This inclusivity attracts a broader user base, including older adults and individuals with physical limitations.

Country Analysis of The Australia Bike Sharing Market

New South Wales is Expected to Dominate the Market Over the Forecast Period.

• 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.
• New South Wales, particularly Sydney, has made substantial investments in developing dedicated bike lanes, cycling paths, and bike-friendly roads. The presence of such robust cycling infrastructure enhances the safety and accessibility of biking, making it an appealing option for both regular commuters and occasional riders.

COVID-19 Impact Analysis on Australia Bike Sharing Market

• The COVID-19 pandemic had a profound impact on the bike sharing market in Australia, affecting various aspects of the industry. During the initial phases of the pandemic, strict lockdowns and social distancing measures resulted in a sharp decline in ridership for bike sharing services.
• Moreover, the pandemic had a significant impact on the tourism industry, affecting popular tourist destinations across Australia. With travel restrictions and the closure of tourist attractions, bike sharing services experienced reduced demand from tourists.
• With people seeking safer and socially distant transportation options, there was an increase in demand for biking as a means of exercise and outdoor activity. The pandemic also brought greater attention to health and environmental concerns, with increased awareness of the health benefits of cycling and the eco-friendliness of bike sharing.

The revenue of the bike-sharing market in Australia displayed steady growth from 2018 to 2019, increasing from 46.85 million USD to 47.55 million USD. In 2020, there was a significant surge in revenue, reaching 59.33 million USD, likely driven by increased demand during the pandemic. The positive momentum continued in 2021, with revenue reaching 63.5 million USD. However, in 2022, the revenue slightly dipped to 59.98 million USD. Overall, the data indicates a resilient performance of the bike-sharing market in Australia, with the industry's adaptability and potential for further expansion evident throughout the analyzed period.

Top Key Players Covered in The Australia Bike Sharing Market

• Mobike (China)
• Ofo (China)
• Lime (US)
• Neuron Mobility (Singapore)
• Beam (Singapore)
• Jump (US)
• Mevo (New Zealand)
• Airbike (Australia)
• BYKKO (Australia)
• Bluebikes (Australia)
• Reddy Go (Australia)
• Geobike (Australia)
• Deezi (Australia)
• Treadlie Bike Share (Australia)
• Pedal Power (Australia)
• com.au (Australia)
• Red Bike (Australia)
• CityCycle (Australia)
• QTBIKES (Australia)
• eBikes Toowoomba (Australia), and Other Major Players.

Key Industry Developments in the Australia Bike Sharing Market

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.