Taiwan Bike Sharing Market Research Report 2023

Taiwan Bike Sharing Market Synopsis

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

• The Taiwan bike-sharing market refers to the industry and ecosystem of bike-sharing services and operations in Taiwan. It encompasses the various companies, organizations, and governmental bodies involved in providing bicycles for short-term rental to the public, primarily for transportation within cities and urban areas.
• In the bike-sharing market, companies typically maintain a fleet of bicycles that are made available to users on a pay-per-use basis. These bicycles are strategically stationed at designated bike-sharing stations located throughout cities, allowing users to easily pick up and return bikes at their convenience.
• The market's success and growth are attributed to the rising demand for sustainable and eco-friendly transportation options, as well as the need to address urban congestion and the "last-mile" problem faced by commuters. Bike-sharing services offer a practical solution for short-distance travel, serving as a complement to public transportation and providing users with a convenient means of getting from one point to another within a city.
• The Taiwan bike-sharing market has seen the emergence of several key players, such as YouBike and iBike, which have played pivotal roles in expanding the network of bike-sharing services and establishing a strong presence in major cities. These companies often collaborate with local governments to implement bike-friendly infrastructure and ensure the smooth functioning of the bike-sharing systems.

Top Key Players:

LoTung Bicycle Sharing (Taiwan), C-Bike (Taiwan), Penghu Bike Sharing (Taiwan), Nextbike (Germany), iBike (Taiwan), HsinTungBike (Taiwan), Bird (US), Bike Hsinchu (Taiwan), TaiMou Bike (Taiwan), Jump (US), Matsu Bike Sharing (Taiwan), YouBike (Taiwan), Ubike (Taiwan), CityBike (Taiwan), oBike (Singapore), Mobike (China), Hualien Bike Sharing (Taiwan), Ofo (China), Lime (US), Yilan Bike Sharing (Taiwan), and Other Major Players.

The Taiwan Bike Sharing Market Trend Analysis

Increasing Need to Reduce Traffic Congestion and Air Pollution in Taiwan

• The need to reduce traffic congestion and air pollution in Taiwan has become increasingly pressing due to rapid urbanization and a growing population. Major cities like Taipei, Taichung, and Kaohsiung face challenges of limited road space and a high concentration of vehicles, leading to traffic gridlocks during peak hours. The adverse effects of air pollution on public health and the environment have further amplified the urgency to find sustainable transportation solutions.
• Bike-sharing services have gained prominence as a sustainable and eco-friendly mode of transportation in Taiwan's urban centers. These programs allow users to rent bicycles for short-term use, providing an effective solution to the "last-mile" problem and bridging gaps between public transportation stations and final destinations.
• Air pollution is a pressing environmental concern in Taiwan, particularly in densely populated urban areas. The high concentration of vehicles emitting pollutants contributes to poor air quality, impacting public health and the well-being of residents. Recognizing the urgency to address these issues, the Taiwanese government has implemented policies and initiatives to promote sustainable transportation alternatives.

The Increasing Awareness of the Benefits of Bike Riding in Region

• The increasing awareness of the benefits of bike riding in the region has opened up significant opportunities for various stakeholders to capitalize on this growing trend. As people become more conscious of the advantages of cycling, there is a potential for positive impacts on various sectors, including the bike-sharing market, bicycle manufacturing, urban planning, public health initiatives, tourism, corporate wellness programs, sustainability efforts, and technological advancements.
• With greater awareness of the benefits of bike riding, the demand for bike-sharing services is likely to rise. This presents a substantial growth opportunity for bike-sharing companies to expand their operations and networks. As more people seek sustainable and cost-effective transportation options, the bike-sharing market can thrive by providing accessible and convenient bikes for short-distance trips.
• The increasing popularity of cycling offers a favorable environment for bicycle manufacturers and retailers. As more individuals consider adopting biking as a regular mode of transportation or for recreational purposes, there is an opportunity to develop and offer a diverse range of bicycles that cater to different needs and preferences.

Segmentation Analysis of The Taiwan Bike Sharing Market

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.

• E-bikes have become increasingly popular worldwide due to their electric motor assistance, which makes cycling more accessible to a wider range of individuals. In Taiwan, as well, E-bikes have gained traction among commuters and tourists. The growing awareness and positive reviews from users have led to an increased demand for E-bike-sharing services.
• E-bikes offer a more comfortable and enjoyable riding experience compared to traditional bikes. The electric motor assists riders in pedaling, making it easier to navigate challenging terrains or cover longer distances without excessive physical exertion. This added convenience and ease of use attract more users to opt for E-bike-sharing services, even those who might be less inclined towards traditional cycling.
• In busy urban centers, E-bikes offer a practical solution for commuters. The electric motor assists, allowing riders to travel faster and arrive at their destinations without breaking a sweat. For those covering moderate to long distances for daily commuting, E-bikes offer an efficient and time-saving alternative to conventional modes of transportation.

Country Analysis of The Taiwan Bike Sharing Market

• A country analysis of the Taiwan bike-sharing market involves examining various factors that influence the growth and development of the industry within Taiwan. These factors encompass both internal and external elements that impact the bike-sharing market's dynamics and prospects.
• As urban centers in Taiwan experience rapid growth and increasing population density, the demand for efficient and eco-friendly transportation options rises. Bike-sharing services offer a practical solution to address traffic congestion and provide last-mile connectivity in crowded cities.
• Advancements in technology have significantly improved the bike-sharing experience. Mobile apps for locating and renting bikes, GPS tracking, and smart lock systems have made bike-sharing more accessible and user-friendly, driving increased adoption.
• Cultural attitudes towards cycling and preferences for different transportation modes influence the adoption of bike-sharing services. Cultural acceptance of cycling as a practical and eco-friendly transportation choice can positively impact the bike-sharing market's growth.

COVID-19 Impact Analysis on Taiwan Bike Sharing Market

• The COVID-19 pandemic, which began in early 2020, had far-reaching effects on various industries, including the Taiwan bike-sharing market. As the world grappled with the crisis, the bike-sharing industry in Taiwan also faced several challenges and changes.
• During the height of the pandemic, Taiwan, like many other countries, implemented lockdowns and movement restrictions to contain the spread of the virus. As a result, bike-sharing usage likely experienced a significant decline. With people staying at home and avoiding unnecessary travel, the demand for bike-sharing services for commuting or leisure purposes decreased considerably.
• Taiwan's effective handling of the pandemic might have allowed the bike-sharing market to recover quicker than in some other countries. With effective containment measures, bike-sharing services might have seen increased usage as restrictions eased and people gradually resumed their daily activities.

The revenue trend of the bike-sharing market in Taiwan from 2018 to 2022 (in million USD) reveals a positive and resilient performance, particularly during the challenging year of 2020, marked by the COVID-19 pandemic. Starting at 3.79 million USD in 2018 and steadily increasing to 4.15 million USD in 2019, the market experienced substantial growth, reaching 5.78 million USD in 2020, despite the impact of the pandemic. The momentum continued in 2021, with revenue reaching 5.8 million USD, and remained strong in 2022, slightly decreasing to 5.45 million USD. This consistent growth reflects the bike-sharing market's adaptability and the growing popularity of eco-friendly transportation options among Taiwanese consumers, even amid the challenges of the COVID-19 pandemic.

Top Key Players Covered in The Taiwan Bike Sharing Market

• LoTung Bicycle Sharing (Taiwan)
• C-Bike (Taiwan)
• Penghu Bike Sharing (Taiwan)
• Nextbike (Germany)
• iBike (Taiwan)
• HsinTungBike (Taiwan)
• Bird (US)
• Bike Hsinchu (Taiwan)
• TaiMou Bike (Taiwan)
• Jump (US)
• Matsu Bike Sharing (Taiwan)
• YouBike (Taiwan)
• Ubike (Taiwan)
• CityBike (Taiwan)
• oBike (Singapore)
• Mobike (China)
• Hualien Bike Sharing (Taiwan)
• Ofo (China)
• Lime (US)
• Yilan Bike Sharing (Taiwan), and Other major Players.

Key Industry Developments in the Taiwan Bike Sharing Market

In December 2021, in a past partnership announcement called "Dine on a Lime," TheFork and Lime joined forces to support Melbourne's restaurants and cafes during the COVID-19 pandemic. The initiative aimed to encourage residents and visitors to rediscover the city's vibrant hospitality scene by offering a 50% discount on two e-bike trips to and from the restaurant, along with extra loyalty points for bookings made through TheFork app. This strategic collaboration sought to boost local businesses, provide safe and eco-friendly transportation options, and revitalize Melbourne's dining scene as restrictions eased and daily activities resumed.