Bicycle Subscription Market

Bicycle Subscription Market Outlook (2024 to 2034)

The global bicycle subscription market, as revealed in a recently updated industry analysis by Fact.MR, is projected to reach US$ 80.46 billion in 2024. Worldwide revenue from bicycle subscriptions is projected to increase at a CAGR of 8% over the next 10 years and climb to US$ 173.71 billion by 2034.

Increasing emphasis on health, affordability, and eco-friendly rides are pivotal reasons more individuals are riding bicycles worldwide. There has been a constant evolution in the purpose of the cycle over the past few years, from wooden, which was used in the nineteenth century to presently used foldable bicycles in the twenty-first century.

The global bicycle market is undergoing significant transformation. Infrastructure and incentives are available to assist individuals in using bicycles for commuting purposes. In addition, governments in several countries, such as the United States, India, and others are aggressively implementing incentives and developing infrastructure for stimulating the use of bicycles. Application-based dockless bicycle-sharing solutions are emerging owing to recent technological advancements in GPS (global positioning system) and mobile applications, which are further creating prospects for global market players.

Cycling has been conventionally used as an effective, dependable, and adaptable mode of transportation. Currently, more individuals are inclined to bicycling to lead a healthy life because of several health issues, such as diabetes, obesity, and others, which are caused by a sedentary lifestyle. Thereby, with the growing involvement of more people in leading an active lifestyle, high demand for bicycle subscriptions is being witnessed.

• Sales of bicycle subscriptions in Canada are forecasted to rise at 8.5% CAGR through 2034.
• East Asia is expected to occupy a share of 23.1% of global market revenue by the end of 2034.
• Demand for bicycle subscriptions in Japan is analyzed to accelerate at a CAGR of 8.5% and reach a market value of US$ 11.8 billion by the end of 2034.

Report Attributes	Details
Bicycle Subscription Market Size (2024E)	US$ 80.46 Billion
Forecasted Market Value (2034F)	US$ 173.71 Billion
Global Market Growth Rate (2024 to 2034)	8% CAGR
Market Share of Roadsters (2034F)	28.9%
North America Market Share (2034F)	24.3%
South Korea Market Growth Rate (2024 to 2034)	8.8% CAGR
Key Companies Profiled	BIXI; Zoomo; Brompton Subscription; Yulu; Hurrecane; Buzzbike; Swapfiets; Dance; Revel; Cowboy; MyByk; Dash; MOBY BIKES LTD.; GetHenry

Which Bicycle Subscription Market Trends are Companies Cashing in On?

“Increasing Adoption of Cycling as Eco-friendly Commute Option”

Developed regions such as North America and Europe are witnessing a sharp increase in the demand for bicycle subscriptions with the availability of incentives and required infrastructure supporting an eco-friendly commute option. Constant technological advancements in smartphone applications and GPS (global positioning system) are resulting in increased demand for app-based bicycle-sharing systems.

More individuals are opting for bicycle riding due to affordability, environment-friendly approach, and rising environmental concerns. The increasing popularity of bicycle subscriptions is attributed to shifting consumer behavior for convenient and sustainable transportation options. Further, the accelerating requirement for effective and eco-friendly urban mobility solutions is creating lucrative opportunities for providers of bicycle subscriptions.

What Challenges are Restraining Demand Growth for Bicycle Subscriptions?

“Limited Availability and Growing Consumer Base Creating Imbalance”

Bicycle subscriptions help individuals travel throughout the city. However, they are not available in infinite numbers, sometimes making customers wait for bicycles, which is annoying, to say the least. This issue is more prevalent in case of peak hours, adversely impacting the expansion of the bicycle subscription market size.

Country-wise Insights

This recently updated report by Fact.MR, a market research and competitive intelligence provider, says that North America is evaluated to account for 24.3% of the global bicycle subscription market share by 2034-end. Some of the leading market players present in the region, such as Citi Bike, are actively working to provide more improved bicycle subscription services. The advent of QR codes and GPS is helping companies offer solutions with economic prices and protecting bicycles from theft or loss. This will further help service providers eliminate the threat of stealing and insurance with IoT integration into the locking system.

What Makes the United States a Key Market in This Space?

“Growing Preference for Bicycle Subscriptions for Their User-friendly Benefits”

Attribute	United States
Market Value (2024E)	US$ 8.56 Billion
Growth Rate (2024 to 2034)	8.4% CAGR
Projected Value (2034F)	US$ 19.25 Billion

The United States is forecasted to occupy 45.6% share of North America by the end of 2034. There are certain benefits associated with a bicycle subscription, such as affordability and convenience, hassle-free riding, and time-saving. Several manufacturers are designing bicycles according to busy urban lifestyles, thereby ensuring fast and lightweight rides.

Why is China an Opportune Market for Bicycle Subscription Providers?

“Lucrative Opportunities for Market Players with High Production of Bicycles and Huge Population”

Attribute	China
Market Value (2024E)	US$ 8.81 Billion
Growth Rate (2024 to 2034)	8% CAGR
Projected Value (2034F)	US$ 19.06 Billion

China's bicycle subscription market is approximated to hold a share of 47.5% of the East Asian market by 2034. China is one of the prominent manufacturers of bicycles in the region, which is creating lucrative opportunities for providers of bicycle subscriptions. Market players are leveraging opportunities created with the implementation of initiatives promoting sustainability practices in transportation. These models help in determining an accurate and quick approach to reducing operational costs and increasing cash flow.

What is Triggering Bicycle Subscription Market Growth in India?

“Larger Population Base Creating Prospects for Market Players”

India is expected to contribute a significant share of the South Asia & Pacific market by 2034 owing to the growing emphasis on the use of high-quality bicycles. Union minister in the country declared that a National Highway will be featuring cycleways where they reach cities. These initiatives will help in supporting a pollution-free, cost-effective, and healthy transportation mode, subsequently creating a supportive environment for providers of bicycle subscriptions.

Category-wise Insights

There are enormous opportunities available for providers of bicycle subscriptions with the advent of e-bikes. Several companies are offering services and expanding their fleet of e-bikes. The cost of these bikes is comparatively high, thereby it is not possible for everyone to purchase them. Companies should leverage opportunities created by growing demand for e-bikes and thereby ensure their availability at a minimal price.

Which Bicycle is Demanded More Through Subscription Services?

“Growing Demand for Roadsters for Improved Performance and Quality”

Attribute	Roadsters
Segment Value (2024E)	US$ 23.01 Billion
Growth Rate (2024 to 2034)	8.1% CAGR
Projected Value (2034F)	US$ 50.2 Billion

Bicycle subscriptions for roadster bicycles are projected to capture a 28.9% share of the global market by 2034. Increased demand for these bicycles is attributed to their light frame material, which ensures performance and quality. They help in easing the task of pedaling through terrains. In addition, this light frame material helps in handling bicycles with improved efficiency.

Which Consumer Base is the Main Target of Providers of Bicycle Subscriptions?

“Focus on Individual Consumers with Their Rising Concerns about Health, Cost, and Environment”

Businesses and individuals form the key audience for bicycle subscriptions, targeting fleet and community needs. More consumers are giving preference to speed and reliability. Thereby, people with flexible work schedules are opting for bicycle subscriptions, with growing concerns about cost, environment, and health. While aligning with income level, bike preference, and demographics, companies are increasing their profit.

Competitive Landscape

Key players in the bicycle subscription industry are incorporating several strategies, such as mergers, acquisitions, collaborations, new product launches, and others to get a competitive edge.

For instance:

• BIXI is a non-profit organization that was established in 2014 in Montreal, Canada to manage a bike-sharing system.

Fact.MR provides detailed information about the price points of leading bicycle subscription providers positioned across the world, sales growth, production capacity, and speculative technological expansion, in this recently published market report.

Segmentation of Bicycle Subscription Market Research

• By Bicycle Type:

  • Roadsters
  • Kids
  • Premium
  • e-bikes

• By Fleet Location:

  • Personal
  • Dedicated

• By Subscription Type:

  • Weekly
  • Monthly
  • Yearly
  • One-Way Pass

• By Use Case:

  • Individual
  • Enterprise

• By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA