Industry Background:
Electric Scooter rental is the term used to describe the temporary rental of an Electric Scooter. Users pay for motor vehicle rental on an hourly basis, either in advance before using the vehicle or through a subscription. The user can locate the nearest parking space to pick up the car or park the car closest to the destination. Users can access these rental services via mobile apps. Lessees are verified by a two-wheeler rental company by verifying their driver's licence and other national certificates. Renting a bike has become much easier and more convenient since its digitization. Furthermore, users prefer the Electric Scooter rental service because they do not have to worry about maintenance and can easily pick up the Electric Scooter at the nearest dock. The global electric scooter rental market is estimated to increase due to rising demand for micro-mobility services as a method of transportation due to their cost-effectiveness and a focus on the development and availability of sustainable modes of transportation.This growth is primarily driven by Market Driver
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Specialized Consumer Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Helbiz (United States), Lime (United States), Jump (United States), Bird (United States), Grow Mobility (China), nextbike (Germany), Cityscoot (France), Lyft (United States), Bolt (Estonia) and Ola Electric (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2022,Helbiz, Inc. , a leader in micro-mobility, announced that it has completed the previously announced merger with Wheels Labs, Inc. (“Wheels”). The acquisition is expected to strengthen the ability to operate by expanding Helbig’s presence to 67 markets globally, create a more diversified business model, and enhance the financial profiles of the Company.
In July 2021 Helbiz had announced the launch of E-Scooter Rental Service in Italy. Helbiz teamed up with Telepass to create a fleet of 300 safe and innovative electric scooters in Reggio Emilia's downtown and neighbouring areas. This contributes to Helbiz's ongoing expansion efforts in Italy, with the company now operating in 25 locations. Users can use the Helbiz or TelepassPay mobile apps on iOS and Android to geolocate, rent, and unlock e-scooters with a single tap. In addition, Helbiz has created dedicated parking spots across Reggio Emilia.2022The demand for electric scooter rental is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes Helbiz, Lime, Jump, Bird and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders such as Helbiz, Lime, Jump, Bird demonstrate a market-defining vision of how electric scooter rental can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings.
Influencing Trend:
Rise in Tourism to Fuel Market Growth
Market Growth Drivers:
Market Driver, Increasing Demand for Micro Mobility and Emission-Free Vehicles, Growing Adoption of Electric Scooters for Short Commute and Increased Use of Smartphones
Challenges:
Customer Retention is one of Major Challenge Faced by Electric Scooter Rental
Restraints:
High Cost of Rental Services and Lack of Charging Infrastructure in Developing Nations may hamper Market Growth
Opportunities:
Rising Awareness towards Environment and Cheaper Transportation Mode, Increasing Investments by Ride-Hauling Companies in Micro-mobility Space and Stringent Government Regulations on Pollution
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Electric Scooter Rentals Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Electric Scooter Rentals Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Electric Scooter Rentals players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Electric Scooter Rentals Study Sheds Light on
The Electric Scooter Rentals Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electric Scooter Rentals industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electric Scooter Rentals industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.