Philippines Bike Sharing Market Research Report 2023

The Philippines Bike Sharing Market Synopsis

The Philippines Bike Sharing market size was valued at $ 37.57million in 2023, and is projected to reach $ 76.52 million by 2030, registering a CAGR of 9.30% from 2023 to 2030. 

• The bike sharing market in the Philippines is projected to experience significant growth in the coming years. This growth is driven by several factors that address the country's need for sustainable and efficient transportation solutions, reduction of air pollution, and improving first and last-mile connectivity.
• The Philippines faces severe air pollution, making it one of the most polluted countries in Southeast Asia. In response to this concern, bike sharing is increasingly seen as an attractive option to reduce air pollution and alleviate traffic congestion. Compared to cars and public transportation, bike sharing offers a more affordable and environmentally friendly alternative for daily commuting.
• One of the key advantages of bike sharing is its ability to provide efficient micromobility services, especially for first- and last-mile connectivity. Micromobility refers to short-distance transportation between a user's origin and destination, such as from home to a train station or from a train station to the workplace. Bike sharing serves as a convenient and efficient solution to bridge this gap, making it an increasingly sought-after option for commuters.

Top Key Players:

Bolt (Estonia), Helloride (Philippines), Lyft Bikes (US), Lime (US), Tier (Germany), Bird (US), CitiBike (US), SG Bike (Singapore), Citizen (Philippines), OFO (China), Mobike (China), JoyRide Bikes (Philippines), Bisikleta Manila (Philippines), SAVA Bikes (Philippines), Bambike Ecotours (Philippines), Cyclelogy (Philippines), Iwheely (Philippines), Beepbeep.ph (Philippines), Green Pedals (Philippines), Ready2Bike (Philippines), and Other Major Players.

The Philippines Bike Sharing Market Trend Analysis

Increasing Need for Reducing Air Pollution and Transportation Costs

• As the Philippines continues to urbanize, the concentration of people and vehicles in major cities like Manila has led to severe air pollution. The transportation sector, particularly motor vehicles, contributes significantly to air pollution, emitting harmful pollutants such as particulate matter (PM), nitrogen oxides (NOx), and volatile organic compounds (VOCs). Prolonged exposure to these pollutants can have adverse effects on public health, leading to respiratory and cardiovascular diseases.
• Urbanization has also resulted in escalating traffic congestion in major metropolitan areas. The combination of population growth and limited road infrastructure has made commuting a time-consuming and frustrating experience for many Filipinos. Additionally, the rising costs associated with car ownership, including fuel prices, parking fees, and maintenance expenses, have become a burden for urban dwellers.
• Bike sharing offers a practical and sustainable transportation alternative that directly addresses the need for reducing air pollution and transportation costs. By promoting the use of bicycles for short-distance trips, bike sharing reduces the reliance on motor vehicles, thus curbing emissions and mitigating the environmental impact of transportation.

Expansion to New Cities and Regions

• Expanding bike-sharing services to new cities and regions allows companies to tap into a previously untapped customer base. While bike sharing may already be well-established in major urban centers, there are many other cities and semi-urban areas where bike sharing has not yet been introduced.
• As bike-sharing services expand to new cities and regions, the potential for increased revenue becomes substantial. By catering to a larger population, bike-sharing companies can generate more income through higher ride bookings and subscription plans. The diversified customer base also reduces the risk of relying solely on one market, allowing for more stable and sustainable revenue streams.
• Expansion to multiple cities and regions allows bike-sharing companies to diversify their risk. By not being solely reliant on one location, they can mitigate potential negative impacts caused by fluctuations in demand, weather conditions, or changes in local regulations. This diversification strategy enhances the company's resilience and reduces vulnerability to market-specific challenges.

The Philippines 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.

• E-bikes are generally more accessible and user-friendly, especially for those who may not be accustomed to regular cycling or who have physical limitations. The electric motor provides pedal assistance, making it easier to cover longer distances and navigate hilly terrains without exerting excessive physical effort. This ease of use attracts a broader audience, including commuters with varying fitness levels and ages.
• E-bikes offer an extended range compared to traditional bikes. With the assistance of the electric motor, users can travel greater distances without becoming fatigued. This makes E-bikes a more practical option for daily commuting, especially for individuals who need to cover significant distances to reach their workplaces or schools.
• The Philippines, like many countries, has cities with challenging topographies that include steep hills and uneven terrain. E-bikes enable users to tackle these physical barriers more easily, reducing the barriers to cycling and promoting bike-sharing usage across different geographic areas.

Country Analysis of The Philippines Bike Sharing Market

• As urbanization continues to accelerate in the Philippines, major cities like Manila and Cebu face significant traffic congestion challenges. The increasing population density, coupled with limited road infrastructure, has resulted in longer commute times and higher transportation costs.
• The Philippines, like many countries, is increasingly recognizing the importance of environmental sustainability and reducing carbon emissions. Air pollution, primarily caused by motor vehicles, has become a major concern for public health and the environment.
• The revenue of the bike-sharing market in the Philippines has shown a steady and significant increase from 2018 to 2022. In 2018, the market revenue was recorded at 15.08 million USD, which saw a notable rise to 18.65 million USD in 2019. Subsequently, the revenue experienced robust growth, reaching 27.43 million USD in 2020, followed by further expansion to 29.01 million USD in 2021. The positive trajectory continued in 2022, with the market revenue reaching 29.15 million USD. These consistent and substantial revenue figures reflect the growing demand for bike-sharing services in the country, fueled by the need for sustainable and cost-effective transportation solutions.

COVID-19 Impact Analysis on The Philippines Bike Sharing Market

• The Covid-19 pandemic had a significant impact on various industries, including the bike-sharing market in the Philippines. In 2020, the revenue of the bike-sharing market was recorded at 27.43 million USD, representing a crucial year affected by the pandemic.
• The pandemic and the subsequent lockdowns and restrictions resulted in a decline in revenue for the bike-sharing market in 2020. With movement restrictions in place, people's mobility reduced significantly, leading to a decrease in the use of bike-sharing services. Commuting to workplaces, schools, and leisure activities were limited, which directly impacted the demand for bike-sharing services during this period.
• Despite the challenges, the bike-sharing market showed resilience and adaptability. As lockdown restrictions eased and the situation improved, the demand for bike-sharing services began to pick up gradually. Bike-sharing companies also explored new opportunities, such as partnerships with food delivery services and offering special packages for healthcare workers and essential personnel.

The revenue data for the bike-sharing market in the Philippines from 2018 to 2022 reveals a consistent upward trend, with notable growth even during the challenging year of 2020, which was heavily impacted by the Covid-19 pandemic. Starting at 15.08 million USD in 2018 and reaching 29.15 million USD in 2022, the steady increase in revenue showcases the industry's resilience and adaptability. Despite the disruptions caused by the pandemic, the bike-sharing market demonstrated its importance as an alternative and sustainable transportation option, reaffirming its promising future in the Philippines.

Top Key Players Covered in The Philippines Bike Sharing Market

• Bolt (Estonia)
• Helloride (Philippines)
• Lyft Bikes (US)
• Lime (US)
• Tier (Germany)
• Bird (US)
• CitiBike (US)
• SG Bike (Singapore)
• Citizen (Philippines)
• OFO (China)
• Mobike (China)
• JoyRide Bikes (Philippines)
• Bisikleta Manila (Philippines)
• SAVA Bikes (Philippines)
• Bambike Ecotours (Philippines)
• Cyclelogy (Philippines)
• Iwheely (Philippines)
• ph (Philippines)
• Green Pedals (Philippines)
• Ready2Bike (Philippines), and Other Major Players.

Key Industry Developments in The Philippines Bike Sharing Market

In June 2023, Bolt announced its partnership with Starship Technologies, the world leader in autonomous delivery vehicles. The collaboration aimed to improve Bolt's services and have a positive impact on cities by utilizing autonomous delivery technology. In the past tense, Bolt had constantly strived to enhance its operations and make a difference in urban environments.

In September 2021, Lime announced the launch of its "Lime Access" scheme in Australia and New Zealand, introducing discounted rides of at least 50% to support lower-income users and improve transportation access. The initiative aimed to break down barriers for underserved communities by providing affordable micro-mobility options.