Canada Bike Sharing Market Research Report 2023

Canada Bike Sharing Market Synopsis

Canada Bike Sharing Market Size Was Valued at USD 56 Million in 2022 and is Projected to Reach USD 83.05 Million by 2030, Growing at a CAGR of 5.05 % From 2023-2030.

The industry and network of shared bicycle services operating locally or globally are collectively called the "bike-sharing market." Through pay-as-you-go or subscription models, this industry makes it easier to make bicycles available to the general public for short-term use. Canada Bike Sharing enables people to readily use them for short-distance travels inside metropolitan areas by providing rental bicycles for short periods, typically ranging from a few minutes to a few hours.

• Bike-sharing services are primarily concentrated in major Canadian cities, such as Toronto, Montreal, Vancouver, Ottawa, and Calgary. These cities have higher population densities, making them suitable locations for bike-sharing programs. The Canadian bike-sharing market features a mix of public and private initiatives. Some cities operate their bike-sharing systems, while others partner with private companies to offer bike-sharing services.
• Canada Bike Sharing has gained popularity among urban dwellers, commuters, and tourists as a convenient and eco-friendly mode of transportation. The increasing focus on sustainability and active lifestyles has contributed to the growing demand for bike-sharing services.
• In addition to traditional bikes, some bike-sharing programs in Canada have introduced electric bikes (E-bikes) to cater to a broader range of users and offer a more efficient transportation option. Moreover, dockless bike-sharing models have emerged, allowing users to pick up and drop off bikes at various locations without the need for fixed docking stations.

Top Key Players Involved Are:

"BIXI Montreal (Canada), Bike Share Toronto (Canada), Vancouver Bike Share (Canada), Capital BIXI Ottawa (Canada), ToGo (Canada), Spin (US), Uber Jump (US), Lime (US), Bike Share Victoria (Canada), Dropbike (Canada), Peg City Car Co-op (Canada), Donkey Republic (Denmark), Bike Share Edmonton (Canada), Nice Ride Minnesota (US), VeloGo (Canada), Sobi Hamilton (Canada), Bike Share Waterloo Region (Canada), Bike Share Mississauga (Canada), Bike Share Windsor (Canada), VeloGO Ottawa (Canada) and Other Major Players."

The Canada Bike Sharing Market Trend Analysis

Growing Demand for Sustainable Transportation

• The growing demand for sustainable transportation is a significant driver for the bike-sharing market in Canada. As people become increasingly aware of environmental issues and the impact of transportation on carbon emissions, there is a growing preference for eco-friendly and sustainable mobility solutions.
• Canada Bike Sharing offers an environmentally friendly transportation option for short-distance trips within urban areas. Bicycles produce zero emissions, making them a sustainable alternative to traditional vehicles that run on fossil fuels.
• The demand for sustainable transportation aligns with the priorities of many governments and cities in Canada. As part of efforts to combat climate change and promote green initiatives, municipalities are increasingly investing in bike infrastructure and encouraging the adoption of bike-sharing services.
• In addition to its environmental advantages, Canada Bike Sharing offers health and well-being benefits. Cycling promotes physical activity, helping users stay active and improve their overall well-being.

Tourism Promotion

• Tourism promotion represents a significant opportunity for the bike-sharing market in Canada. Canada Bike Sharing can play a crucial role in enhancing the tourism experience for visitors and attracting more tourists to explore Canadian cities. Tourists are increasingly seeking eco-friendly and sustainable experiences during their travels.
• Canada Bike Sharing aligns perfectly with this trend, as it offers an environmentally friendly way to explore cities and tourist attractions. By integrating bike-sharing services into tourism promotion strategies, cities, and tourist destinations can showcase their commitment to sustainability and appeal to environmentally conscious travelers.
• Biking through a city allows tourists to immerse themselves in the local culture and experience the destination from a different perspective. Unlike traditional tourist buses or cars, bikes provide a more intimate and leisurely experience, allowing travelers to discover hidden gems and interact with locals along the way.
• Biking provides access to locations that may be challenging to reach by other means of transportation. Bike-sharing services can be strategically located near tourist hotspots and scenic routes, encouraging tourists to venture beyond the typical tourist attractions and discover lesser-known places.

Segmentation Analysis of The Canada Bike Sharing Market

Canada Bike Sharing market segments covers 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 have gained significant popularity in recent years, not only in the bike-sharing market but also in the broader cycling industry. The electric pedal-assist feature of E-bikes makes them appealing to a broader range of users, including commuters, tourists, and recreational riders.
• The electric pedal-assist technology of E-bikes provides users with an easier and more convenient cycling experience. It reduces the physical effort required to pedal, making it suitable for riders of various fitness levels and ages.
• This increased accessibility has contributed to the growing adoption of E-bikes in the bike-sharing market. E-bikes offer an extended range compared to traditional bikes, allowing users to cover longer distances without exerting excessive effort. This extended range makes E-bikes more practical for commuting and recreational purposes, making them a preferred choice for many bike-sharing users.

Country Analysis of The Canada Bike Sharing Market

• The bike-sharing market in Canada was experiencing significant growth and expansion, driven by various factors such as urbanization, environmental consciousness, and government support for sustainable transportation solutions. Here is a country analysis of the Canada Canada Bike Sharing Market:
• The bike-sharing market in Canada has flourished in urban centers with higher population densities. Cities like Toronto, Montreal, Vancouver, Ottawa, and Calgary have been key hubs for bike-sharing programs due to their large population bases, higher demand for alternative transportation options, and greater availability of bike-sharing infrastructure.
• The Canadian government and local municipalities have been supportive of sustainable transportation initiatives, including Canada Bike Sharing. Governments have invested in bike infrastructure, such as dedicated bike lanes and cycling-friendly roads, to promote safer and more accessible bike-sharing services.
• Canada experiences distinct seasons, and the bike-sharing market often sees fluctuations in ridership based on weather conditions. Bike-sharing services may be more popular during the warmer months when weather conditions are conducive to cycling, while demand may decrease during harsh winters.

Covid-19 Impact Analysis on Canada Bike Sharing Market

• During the early stages of the pandemic, many countries, including Canada, implemented strict lockdown measures and travel restrictions to curb the spread of the virus. These restrictions led to a decline in overall ridership for bike-sharing services as people stayed home and limited their non-essential travel.
• In response to the pandemic, some bike-sharing operators temporarily suspended their services to prioritize the health and safety of their employees and users. This further contributed to reduced bike-sharing availability in certain areas.
• Despite the overall decline in ridership, Canada Bike Sharing continued to play a role in facilitating essential travel for healthcare workers, frontline personnel, and individuals needing to travel within their local neighbourhoods.

                                                                                                                                                                                                  Source - Statista

The revenue of the bike-sharing market in Canada experienced fluctuations from 2018 to 2022. In 2018 and 2019, the revenue showed steady growth, reaching $40.58 million. However, the market faced challenges during the COVID-19 period in 2020, resulting in a revenue decline of $32.53 million. Despite the impact of the pandemic, the bike-sharing market demonstrated resilience and rebounded in 2021, with revenue increasing to $44.98 million. The positive momentum continued in 2022, as the revenue further grew to $47.29 million. The upward trend in revenue in the post-pandemic years signifies the market's ability to adapt and thrive, driven by renewed interest in active transportation, sustainability, and the popularity of Canada Bike Sharing as an eco-friendly mobility option in Canada.

Top Key Players Covered in The Bike-Sharing Market

• BIXI Montreal (Canada)
• Bike Share Toronto (Canada)
• Vancouver Bike Share (Canada)
• Capital BIXI Ottawa (Canada)
• ToGo (Canada)
• Spin (US)
• Uber Jump (US)
• Lime (US)
• Bike Share Victoria (Canada)
• Dropbike (Canada)
• Peg City Car Co-op (Canada)
• Donkey Republic (Denmark)
• Bike Share Edmonton (Canada)
• Nice Ride Minnesota (US)
• VeloGo (Canada)
• Sobi Hamilton (Canada)
• Bike Share Waterloo Region (Canada)
• Bike Share Mississauga (Canada)
• Bike Share Windsor (Canada)
• VeloGO Ottawa (Canada) and Other Major Players.

Key Industry Developments in the Canada Bike Sharing Market

In June 2023, BIXI witnessed record-breaking ridership numbers after just seven weeks of activity. In May, over 1,586,000 trips were taken on Urban transit and environmental challenges were a reality for numerous cities around the world. BIXI had been providing an active mobility solution that was extremely popular with local residents, contributing to reducing climate change and improving transportation in the city.

In March 2023, the cost of Bike Share Toronto rentals increased under the new rate structure. Previously, it had cost $3.25 for a casual rider to rent a bike for half an hour. However, under the new system, users were required to pay a $1 undocking fee and 12 cents for every minute they rode. For riders taking a spin of 18 minutes and under, they actually paid less than the previous fee.