Scooter Sharing Market Overview
According to the market research report published by P&S Intelligence, valued at $99.8 million in 2018, the global scooter sharing market is projected to generate revenue of $553.0 million by 2025, growing at a CAGR of 24.4% during 2019–2025. Based on the trip, the one-way category dominated the market in 2018. Whereas, the round category is expected to attain faster growth during the forecast period.
Increasing investment is a key trend being observed in the scooter-sharing market. The industry is receiving investments of substantial amounts from top investors in the world. For instance, in 2018, Cityscoot, one of the leading scooter-sharing service providers in Europe, received an investment of $50 million (EUR 42.4 million) from a group of investors led by Inventure Partners and RATP Capital Innovation. In the same year, Barcelona-based electric scooter sharing company, Yugo, raised funding of $475 thousand (EUR 402 thousand). Moreover, in 2017, Gogoro, a Taiwan-based electric scooter manufacturing company, raised funding of $300 million to invest in its scooter sharing service, GoShare.
Scooter Sharing Market Size
Rising population in major cities across the world has led to an increased number of daily commuters, thereby creating significant road congestion, especially in peak hours. To minimize this problem, countries are looking for new alternatives. This scenario acts as a major driver for the scooter sharing market, globally. Governments and scooter sharing service providers encourage daily travelers to use scooter sharing services. This helps in reducing traffic congestion on roads, since scooters are compact in size and require less space on the roads and parking spaces.
Among all regions, Europe generated the largest revenue in the scooter sharing market in 2018. Increasing urban road congestion and emission of greenhouse gases are major concerns in several European countries. The rising population in major cities in the region leads to an increased number of daily commuters, creating significant road congestion, especially during peak hours. Countries in the region are introducing new alternatives for transportation, such as scooter sharing, so as to combat these problems. Spain, France, and Germany were the major countries in the region with a significant number of scooters available for sharing services.
Scooter Sharing Market Share
However, during the forecast period, APAC is estimated to register the fastest growth rate. Owing to the increasing deployment of scooter-sharing vehicles in India and Taiwan. In 2019, India became the largest scooter-sharing fleet operator in the world. By the end of 2019, the country holds in between 15,000–20,000 scooters in its sharing fleet. This was due to the large investments in two major players, Vogo and Bounce. The two companies entered the market more recently, having scaled most of its fleet in 2019. Both countries have an estimated 7,000 sharing scooters each.
The scooter sharing market is at its growing phase, with the presence of major players, such as Cityscoot SAS (Cityscoot), COUP Mobility GmbH (COUP), and Cooltra Motosharing S.L.U. (eCooltra), and Weimo Technology Co. Ltd. (WeMo).
Scooter Sharing Market Outlook
In recent years, the key players in the global scooter sharing market have taken several strategic measures, such as partnerships, service launches, and investments, to gain a competitive edge in the industry. For instance, in September 2019, MiMoto, in collaboration with IrenGo, launched its scooter-sharing services in Genoa, Italy. Furthermore, in the same year, WeMo Scooter launched its scooter sharing service in Taiwan with a fleet of 200 scooters.
Some other significant players operating in the scooter sharing market include Electric Mobility Concepts GmbH (emmy), Sharing Muving S.L.U. (Muving), Felyx Sharing B.V., YUGO Urban Mobility SL (YEGO), Econduce SAPI de CV, MiMoto Smart Mobility Srl, Scoot Rides Inc. (Scoot), Wicked Ride Adventure Services Pvt. Ltd. (Bounce), Vogo Automotive Pvt. Ltd. (Vogo), and Green Electricity Sp. z o.o. (blinkee.city).
Scooter Sharing Market Demand
The increasing population in many cities around the world is causing a sharp surge in the number of daily commuters, which, in turn, is leading to road congestion, especially during peak hours of the day. One of the most effective solutions to the problem is to increase the adoption of various ride-sharing services such as scooter sharing services. As a result, the governments of several countries are rapidly implementing regulations and policies for promoting the adoption of scooter-sharing services.
As scooters are smaller and have more compact sizes than other vehicles the increasing adoption of scooter-sharing services plays a pivotal role in reducing road congestion. Which subsequently reduces the prevalence of road accidents. In addition to this, the deployment of ride-sharing services greatly reduces the number of vehicles running on the roads. Which leads to a significant reduction in greenhouse gas emissions. At a time when air pollution is increasing at an alarming rate in several cities. The adoption of ride-sharing services is turning out to be a great method for mitigating environmental degradation.
Scooter Sharing Market Revenue
The other important factor fueling the demand for scooter sharing services is the greater convenience offered by these services in comparison to the privately owned vehicles. This is because the ownership of a vehicle massively increases a person’s expenses. On account of the vehicle’s fuel costs, maintenance charges, parking expenses, insurance cover, and many other costs. Furthermore, the development of advanced mobile applications has boosted the convenience of the scooter sharing services. As these services can now be easily availed with just a few finger taps.
Because of the aforementioned reasons, the popularity of scooter-sharing services is increasing rapidly throughout the world. As a result, the global scooter sharing market is predicted to exhibit rapid progress in the future years. These services are availed for both one-way and round trips. Of these, the adoption of the scooter sharing services for one-way trips was higher in the past and this trend is predicted to be seen during the coming years as well.
More Reports of Automotive and Transportation By P&S Intelligence
Kick Scooter Sharing Market
North America is the largest kick scooter sharing market, globally, contributing the majority of the worldwide revenue in 2018. The market in the region came into being in late 2017, with the introduction of the services by Bird, Lime, and Spin in the U.S.. Moreover in late 2017, different kick scooter sharing companies began to flood the U.S.. In an effort to occupy a significant market share before saturation. By the end of 2018, around 85,000 kick scooters were available for sharing purposes in numerous U.S. cities. Where these have almost replaced the bike sharing services earlier predominant.
https://www.psmarketresearch.com/market-analysis/kick-scooter-sharing-market
India Two-Wheeler Sharing Market
In April 2019, a motorcycle/scooter e-hailing service provider, Rapido raised around $11.2 million in its Series A funding round, which was led by venture capital firm, Nexus Venture Partners. Rapido also declared that the amount will be used for the operational expansion of the company into new cities in India.
https://www.psmarketresearch.com/market-analysis/india-two-wheeler-sharing-market
