- These Companies will Emerge as Netflix of Bicycle Subscription Market
- The bicycle subscription market study by Fact.MR offers compelling insights into drivers and restraints impacting the growth trajectory through 2031. The report studies various trends and opportunities affecting the demand across leading segments including bicycle type, subscription type, end user and region.
NEW YORK, Oct. 20, 2021 /PRNewswire/ -- As per latest market analysis by Fact.MR, a market research and competitive intelligence provider, the global bicycle subscription market is likely witness healthy growth during the forecast period. According to Fact.MR, the global market for bicycles stood at US$ 58 Bn in 2020. With the demand for bicycles projected to increase considerably in the coming years, companies operating in the bicycle subscription market are expected to register higher growth.
Focus on eco-friendly mode of transport and surging adoption of bicycle as preferred ride to lead a healthy and fit lifestyle will push demand for bicycle subscriptions globally.
Subscriptions are considered as a more economical option to personal ownership. The burden of ownership, maintenance, insurance, and the threat of theft is covered by the service rendering company, while the customer just has to subscribe for the bicycle and pedal it to the respective destination.
Bicycle subscription are highly sought-after as it helps people enjoy daily bicycle rides without spending on purchase or maintenance. It not only saves money, but helps to minimize carbon emission. With growing popularity of bike sharing platforms, the bicycle subscription market is projected to expand swiftly during the forecast period.
Various developed countries are encouraging citizens and tourists to use bikes for travelling. Government agencies are encouraging electro-mobility to reduce pollution. As a result, zero emission vehicles are being increasingly promoted through attractive incentives and schemes.
As per Fact.MR, renting electric bicycles are expected to pick up pace during the forecast period. As these e-bikes are much expensive, people are showing keen interest in renting them on subscription basis. As per the report, Europe will emerge as a highly lucrative market for bicycle subscription backed by increasing bicycle sales.
"Increasing penetration of bikes sharing and subscription apps worldwide are making bicycling subscription more attractive to millions of customers. Key market players are introducing attractive n packages to woo customers. This will have a positive impact on the market," says the Fact.MR analyst.
Key Takeaways from Bicycle Subscription Market Survey
Key companies operating in the bicycle subscription market are focusing on expanding their product portfolio. They also are extending attractive offers to woo consumers. For instance:
In February 2021, electric moped rental company Revel introduced a US$ 99-a-month e-bike subscription for NYC residents. For US$ 99 a month, interested customers can get a stylish electric bike manufactured by NYC-based e-bike company Wing delivered straight to their door.
In August 2021, German startup Dance launched its e-bike subscription service in Berlin. For a flat monthly fee of €79 (around US$ 93), users will get a customer-designed electric bike as well as access to an on-demand repair and maintenance service.
Some of the leading players operating in the bicycle subscription market profiled by Fact.MR are:
MOBY BIKES LTD.
More Insights on the Global Bicycle Subscription Sales Outlook
Fact.MR provides an unbiased analysis of bicycle subscription market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for bicycle subscription with a detailed segmentation on the basis of:
Last mile delivery
Hotels & Resorts
South Asia & Oceania
Middle East & Africa
Key Questions Covered in the Bicycle Subscription Market Outlook Report
The report offers insight into bicycle subscription demand outlook for 2021-2031
The market study also highlights projected sales growth for bicycle subscription market between 2021 and 2031
Bicycle subscription market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Bicycle subscription market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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