India Bike Sharing Market Research Report 2023

India Bike Sharing Market Synopsis

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

• Public Bike Sharing (PBS) is transforming urban mobility in India by offering shared bicycles and e-cycles as a sustainable and inclusive mode of transportation. PBS aligns with the Sustainable Agenda for Urban Development 2030 and has gained inspiration from global pioneers like Copenhagen and New York, who integrated bikes into their mobility strategies in the late 1990s. India's policies such as the National Urban Transport Policy (NUTP), JNNURM, and Smart City Mission have laid the groundwork for PBS, fostering the implementation of Non-Motorized Transport (NMT) infrastructure.
• PBS has become an attractive mobility option in India due to its affordability, health benefits, and eco-friendliness, allowing users to easily access bikes without ownership hassles. Census data shows that a significant proportion of Indian workers commute short distances, reinforcing the suitability of PBS for first mile and last-mile connectivity.
• Cities like Ahmedabad, Indore, Kochi, Mysuru, Bhopal, and Chandigarh have embraced PBS, setting examples for others. The market is growing steadily, with private and public sectors contributing to its expansion.
• While PBS offers numerous advantages, challenges such as infrastructure development, bike safety, and user education need attention. Addressing these issues collaboratively will ensure PBS's success in transforming Indian cities into more sustainable and accessible urban spaces. With its potential to reduce congestion, pollution, and climate impact, PBS plays a crucial role in shaping the future of urban mobility in India.

Top Key Players:

"Ola Pedal (India), Yulu (India), Bounce (India), Zoomcar PEDL (India), Vogo (India), Rapido Bike Taxi (India), Mobycy (India), Quick Ride (India), Mybyk (India), SmartBike (India), Metro Bikes (India), Spondre (India), Yano (India), Pedal Town (India), GreenWheel Ride (India), PedL (India), ONN Bikes (India), Momo Bike (India), Bykemania (India), Wicked Ride (India) , and Other Major Players."

Market Trend Analysis

Urban Congestion and Traffic Woes

• Urban congestion and traffic woes serve as a significant driver for the growth and adoption of bike-sharing in India. As cities experience escalating levels of traffic congestion, the need for sustainable and efficient transportation solutions becomes paramount. Bike-sharing offers a promising alternative to traditional modes of commuting, providing a way to tackle the challenges posed by urban congestion.
• With rapid urbanization, Indian cities are grappling with increasing traffic congestion, leading to longer commute times and decreased productivity. By encouraging more people to use bikes for short-distance trips, bike-sharing alleviates road congestion and contributes to smoother traffic flow, making cities more accessible and livable.
• In congested urban areas, cars often get stuck in traffic jams, causing frustration and delays. Bike-sharing offers a quick and flexible mode of transport, allowing users to navigate through congested streets, take shortcuts, and avoid traffic bottlenecks.

Expansion to More Cities

• Expanding bike-sharing services to more cities presents a compelling opportunity in the India bike-sharing market. Despite the growing popularity of bike-sharing in certain urban centers, numerous cities, including tier 2 and tier 3 cities, are yet to witness the full-scale implementation of such systems. These untapped markets hold significant potential, as they offer access to a large population of potential users who are seeking convenient and sustainable transportation options.
• Each city in India has its unique commuting patterns, traffic conditions, and urban challenges. Expanding bike-sharing to more cities provides an opportunity for operators to tailor their services to meet the specific mobility needs of each location.
• As bike-sharing services extend to more cities, it contribute to improving the public perception of bike-sharing as a mainstream and reliable transportation option. This positive perception fosters a culture of sustainable and eco-friendly mobility, promoting the long-term growth and acceptance of bike-sharing as a fundamental component of urban transportation in India.

India Bike Sharing Market Segment Analysis

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

• Among the segmented bike types, the E-bike segment is anticipated to dominate the India bike-sharing market over the forecast period. The key driver behind this anticipated dominance lies in the numerous advantages E-bikes offer over traditional manual bikes. E-bikes provide enhanced convenience and accessibility, making them appealing to a broader range of users.
• E-bikes offer commuters a more comfortable and effortless option for daily journeys, especially in urban areas with mixed terrain or hilly landscapes. The electric motor provides additional propulsion, allowing users to cover distances more easily and at a faster pace than traditional bicycles.
• One of the significant advantages of E-bikes is their alignment with sustainability goals. While they use battery-powered motors, E-bikes emit fewer emissions compared to motorized vehicles, contributing to reduced carbon footprint and improved air quality in congested urban areas. As environmental concerns and a desire for eco-friendly transportation continue to rise, the eco-conscious appeal of E-bikes further strengthens their position in the bike-sharing market.

India Bike Sharing Market Country Analysis

• The country analysis of the India bike-sharing market highlights the dominance of major cities where bike-sharing services are prevalent. Among these cities, New Delhi, as the capital city of India, stands out due to its high levels of urbanization and population density. The city's bustling streets and dense urban landscape create a significant market for bike-sharing services. As urban areas face growing challenges of traffic congestion and air pollution, bike-sharing emerges as an attractive and efficient alternative for short-distance travel in New Delhi.
• New Delhi is home to a substantial population of young professionals, students, and officegoers who seek sustainable and cost-effective transportation options. Bike-sharing services align well with the preferences of this demographic, providing a healthier and eco-friendly mode of travel for their daily commuting needs.
• New Delhi has nurtured a vibrant start-up ecosystem, hosting several bike-sharing companies and technology providers. The presence of these innovative ventures drives healthy competition and encourages continuous improvements in service quality and user experience. The entrepreneurial spirit in the city fosters a dynamic environment for bike-sharing operators to innovate and expand their offerings.

COVID-19 Impact Analysis on India Bike-Sharing Market

• The COVID-19 pandemic had a significant impact on the Indian bike-sharing market, leading to the temporary suspension of services during the peak of the outbreak. As lockdowns and movement restrictions were imposed to contain the spread of the virus, bike-sharing operators had to halt their operations to comply with government regulations. The suspension of services resulted in a sharp decline in revenue and ridership as people stayed at home and avoided non-essential travel.
• Looking ahead, the COVID-19 pandemic highlighted the importance of sustainable and individual transportation options. As cities and governments focus on promoting environmentally friendly and socially distanced modes of transport, bike-sharing services may witness a resurgence in demand. The pandemic underscored the relevance of bike-sharing for short-distance travel and last-mile connectivity, making it a viable solution for urban mobility challenges.

The revenue data for the India bike-sharing market from 2018 to 2022 shows a steady growth trend, with revenue increasing from 0.52 billion USD in 2018 to 0.65 billion USD in 2019. However, in 2020, amidst the COVID-19 pandemic, the revenue experienced a significant jump, reaching 0.91 billion USD, as the demand for bike-sharing services surged due to the need for safe and individual mobility options. The market continued to demonstrate resilience in 2021, with revenue reaching 0.98 billion USD, and it is projected to further grow to 1.04 billion USD in 2022, indicating a positive growth outlook and the market's ability to adapt to changing consumer needs.

Top Key Players Covered in India Bike Sharing Market

• Ola Pedal (India)
• Yulu (India)
• Bounce (India)
• Zoomcar PEDL (India)
• Vogo (India)
• Rapido Bike Taxi (India)
• Mobycy (India)
• Quick Ride (India)
• Mybyk (India)
• SmartBike (India)
• Metro Bikes (India)
• Spondre (India)
• Yano (India)
• Pedal Town (India)
• GreenWheel Ride (India)
• PedL (India)
• ONN Bikes (India)
• Momo Bike (India)
• Bykemania (India)
• Wicked Ride (India), and Other Major Players.

Key Industry Developments in the India Bike Sharing Market

In September 2020, Kapture CRM had partnered with Vogo, the tech-enabled self-ride two-wheeler rental service provider, to utilize Kapture's Integrated Ticket Management System to manage its customer support process. At that time, Kapture CRM had a presence in 15 countries, including Singapore and the USA, and this partnership had expanded its footprint in the Indian market.

In August 2021, Hero Electric had announced a partnership with Bengaluru-based start-up Bykemania. As part of the collaboration, Hero Electric was set to deliver 5,000 electric vehicles (EVs) from its City-Speed category to Bykemania through its Volaris program. Through Volaris, small-ticket investors would have been able to own and lease EVs to Bykemania on a revenue-share basis.