The bike-sharing market in the MEA region is the rapid urbanization and population growth occurring in many cities. With urban populations on the rise, there is a growing need for efficient and sustainable transportation solutions to alleviate congestion and reduce reliance on motor vehicles. Bike-sharing services offer a flexible and cost-effective alternative for short-distance travel, particularly in dense urban environments where parking is limited and traffic congestion is a major concern.
Bicycle sharing, a system enabling individuals to rent bikes for short periods affordably, has emerged as an innovative solution for urban transportation in the Middle East and Africa (MEA). This approach offers convenient, eco-friendly mobility, catering to the region’s efforts to ease traffic congestion, encourage healthier lifestyles, and curb carbon emissions. Bike-sharing services in the MEA region find diverse applications, serving short commutes, sightseeing, exercise, and leisure. They particularly excel in providing a last-mile connectivity option, efficiently bridging the gap between transit stops and final destinations for commuters using public transport.
The Middle East & Africa Bike Sharing Market region is witnessing rapid growth, driven by a combination of factors including urbanization, congestion, sustainability initiatives, and increasing awareness of the benefits of cycling. Bike sharing services, which provide short-term bicycle rentals for users, are gaining popularity as convenient and eco-friendly transportation options in urban areas across the region.
The Middle East and Africa Bike Sharing Market is segmented into Type, Sharing Type, Model, and North America. By Type, the market is categorized into Traditional Bike, and E-bike. By Sharing Type, the market is categorized into Docked, Dockless, and Hybrid. By Model, the market is categorized into Free-floating, P2P, Station based. By region, Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa).
Middle East & Africa Bike Sharing Market Size Was Valued at USD 273.00 Million in 2022 and is Projected to Reach USD 356.72 Million by 2030, Growing at a CAGR of 3.40% From 2023-2030.
The Global Middle East & Africa Bike Sharing Market report provides comprehensive market information, including classifications, definitions, and market analysis. This also helps with the awareness of various item specifics, the manufacturing cycle, the supply chain, and the cost structure. Along these lines, the understanding of the project’s structural squares and key development drivers is enhanced. Boundaries such as import and fare, rules in various nations, inflation, legal and political variables, financial elements, and other minor aspects inside organizations have been broken down to estimate the market size. The research examines the competitive landscape as well as the most current positions of major rivals in the keyword industry.
Encouraged by increasing urbanization, growing environmental consciousness, and government backing for sustainable transport, the MEA bike-sharing market displays promising growth. Nations like the United Arab Emirates, South Africa, and Morocco witness the establishment and growth of bike-sharing networks, often through collaborations between public and private entities.
The Bike-Sharing Market Segmentation:
By Type
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- Traditional Bike
- E-bike
By Sharing Type
-
- Docked
- Dockless
- Hybrid
By Model
-
- Free-floating
- P2P
- Station based
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Key Questions Addressed in this Report
- What is the 10-year outlook for the global Bike Sharing Market?
- What factors are Bike Sharing market growth, globally and by region?
- Which technologies are poised for the fastest growth by Bike Sharing Market and region?
- How do Bike Sharing market opportunities vary by end Market size?
- How does Bike Sharing break out type, application?
- What are the influences of COVID-19 and Russia-Ukraine war?
- How much is the global Bike Sharing market worth? What was the value of the market In 2020?
- Who are the major players operating in the Bike Sharing market? Which companies are the front runners?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Bike Sharing Industry?
Key Industry Facts in the Middle East & Africa Bike Sharing Market:
· In April 2023, Careem Bike appointed PHAR as its exclusive partnership agency. PHAR Partnerships is thrilled to officially announce its appointment by Careem BIKE as its exclusive partnership agency. Careem BIKE aims to enhance livability through sustainable, eco-friendly transport, boasting 175 stations and 1,750 E-Bikes in Dubai, expanding to 65 stations and 700 E-Bikes. PHAR launched the Careem Bikeshare Partnership Programme to collaborate with firms aligning with the UAE’s eco-transport vision.
· In October 2023, Careem Bike, integrated into the Careem Everything App, has played a significant role in environmental sustainability by offsetting a substantial 2,976,482 tons of CO2, akin to the emissions of 834 cars. This initiative aligns with the UAE’s ambitious objective to slash emissions by 40% before 2030. Concurrently, Careem’s ride-hailing sector witnessed a remarkable shift, with 53% of trips in 2023 completed through hybrid or electric vehicles. This fleet upgrade comprises over 75 electric Teslas and more than 1,400 hybrids, which, compared to internal-combustion engines, emit a mere one-third of emissions. Careem’s proactive efforts underscore a commitment to promoting cleaner transportation and aiding the UAE’s eco-friendly targets, marking a substantial step towards sustainable mobility solutions.
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