Two Wheeler Shared Mobility Market to Grow with a CAGR of 12.7% through 2028
Urbanization and
Traffic Congestion, environmental sustainability, Technological Advancements
and Changing Lifestyles and Mobility Preferences is driving the Global Two Wheeler
Shared Mobility Market in the forecast period 2024-2028.
According to TechSci Research report, “Two Wheeler
Shared Mobility Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Two Wheeler Shared Mobility
Market stood at USD 70 billion in 2022 and is anticipated to grow with a CAGR
of 12.7% in the forecast period, 2024-2028.
This market is characterized by the provision of
shared electric scooters and bicycles, offering urban residents and commuters
convenient, sustainable, and flexible transportation options. Users can locate,
unlock, and rent these two-wheelers through mobile applications, making them a
popular choice for navigating cities with heavy traffic and limited parking
options. One of the defining features of this market is its focus on reducing
emissions and mitigating urban congestion. Shared electric scooters and
bicycles are eco-friendly alternatives to traditional gasoline-powered
vehicles, contributing to cleaner air and reduced carbon footprints. They also
offer a solution to the "last mile" challenge, helping users complete
their journeys efficiently from transportation hubs to their final destinations.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Two
Wheeler Shared Mobility Market.”
The two-wheeler shared mobility market has emerged as
a transformative force in urban transportation, offering a dynamic solution to
the evolving mobility needs of urban residents and commuters. This market
centers around shared electric scooters and bicycles, which have become
ubiquitous in many cities globally. These two-wheelers are easily accessible
through user-friendly mobile applications, allowing individuals to locate,
unlock, and rent them on a pay-as-you-go basis.
At its core, the two-wheeler shared mobility market
addresses several pressing challenges in urban environments. As cities continue
to grapple with issues such as traffic congestion, air pollution, limited
parking, and the "last mile" problem—getting from transportation hubs
to final destinations—shared electric scooters and bicycles offer a sustainable
and convenient mode of transport. One of the defining features of this market
is its commitment to reducing emissions and promoting eco-friendly
transportation. Electric scooters and bicycles, with their quiet,
emissions-free operation, contribute to cleaner air and reduced carbon
footprints. Users appreciate the environmental benefits of these vehicles and
are increasingly incorporating them into their daily routines. The rise of the
two-wheeler shared mobility market is not without its challenges, though.
Safety concerns, regulatory complexities, competition, technological limitations,
and economic sustainability are some of the key hurdles faced by operators and
stakeholders. However, these challenges have not deterred the continued
expansion of shared two-wheelers as an integral component of urban
transportation ecosystems worldwide.
Safety is a paramount concern in the two-wheeler
shared mobility market. The widespread adoption of shared scooters and bicycles
means that riders of varying skill levels and familiarity with local traffic
rules are sharing the road. Irresponsible rider behavior, such as riding
without helmets, disregarding traffic signals, or riding on sidewalks, can pose
risks to pedestrians and other road users. To address these safety concerns,
operators have implemented various measures, including user education programs,
helmet provision, and geofencing technology to enforce speed limits and
restrict riding in specific areas. Collaboration with cities and municipalities
is also essential to develop infrastructure improvements, such as dedicated
bike lanes and enhanced signage, to create a safer environment for shared
two-wheelers.
To remain competitive, operators must differentiate
their services through factors such as technology integration, user experience
enhancements, and service quality improvements. Additionally, the entry of
established ridesharing and e-commerce companies into the two-wheeler sharing
market has added complexity to the competitive landscape, further challenging
existing operators. Technological limitations and maintenance concerns are also
prevalent in the two-wheeler shared mobility market. Shared electric scooters
and bicycles are equipped with various components, including batteries, GPS
systems, locks, and connectivity hardware, all of which must function reliably
for the service to operate smoothly. Technical issues, such as battery
failures, connectivity problems, and software glitches, can disrupt operations
and inconvenience users.
User behavior and responsibility represent significant
challenges in the two-wheeler shared mobility market. Irresponsible or careless
rider behavior, such as reckless riding or parking shared two-wheelers
inappropriately, can lead to safety risks and damage to vehicles. Operators are
tasked with educating users about responsible riding practices and enforcing
rules through penalties and suspensions. Moreover, issues related to theft,
vandalism, and improper vehicle disposal require operators to implement
security measures and monitoring systems to safeguard their fleets. Operators
must strike a balance between providing convenient access to shared
two-wheelers and ensuring that users act responsibly and respect local
regulations.
Economic sustainability and profitability are
fundamental challenges in the two-wheeler shared mobility market. Achieving
profitability while balancing the costs of vehicle acquisition, maintenance,
operations, and regulatory compliance can be challenging, especially in
competitive markets with high operational costs. Operators must carefully
manage pricing strategies, fleet utilization rates, and operational efficiency
to achieve financial viability. Diversifying revenue streams beyond ride fares,
such as through advertising partnerships, data monetization, and subscription
models, can help operators improve profitability. Government incentives and
subsidies for sustainable transportation modes, including shared two-wheelers,
can also enhance economic sustainability. Collaborative efforts between
operators and policymakers are essential to finding viable economic models that
support the growth of shared two-wheelers as a sustainable urban mobility
solution.
Major companies operating in Global Two Wheeler
Shared Mobility Market are:
- Uber Technologies
Inc.
- ANI Technologies
Pvt. Ltd.
- Lyft, Inc.
- Careem
- Bolt Technology OÜ
- Gett
- Enterprise Holdings
Inc.
- Europcar
- Curb Mobility
- Rapido
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“The two-wheeler
shared mobility market is revolutionizing urban transportation by offering eco-friendly,
convenient, and cost-effective solutions for commuters and city dwellers. This
dynamic market centers around shared electric scooters and bicycles, which
users can easily access through mobile applications. These vehicles provide a
sustainable alternative to traditional gasoline-powered transportation,
addressing issues such as traffic congestion and air pollution. Despite facing
challenges related to safety, regulation, competition, and technological
complexities, the two-wheeler shared mobility market continues to expand,
reshaping the way people navigate cities worldwide. With its potential to
improve urban mobility and reduce the environmental impact of transportation,
this market represents a promising step towards creating more sustainable and
accessible transportation systems in our rapidly urbanizing world.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Two Wheeler Shared Mobility Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented
By Propulsion Type (ICE, Electric), By Mobility Type (Ride Sharing, Vehicle
Leasing, Private), By Region, By Competition.”, has evaluated the future growth
potential of Global Two Wheeler Shared Mobility Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Two Wheeler Shared Mobility Market.
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