NEW YORK, Feb. 25, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, European electric two-wheeler sharing market is projected to reach $597.2 million by 2025, registering a CAGR of 35.0% during the forecast period. Technological advancement needed for efficient fleet management and vehicle sharing systems, rising concerns over emissions of greenhouse gas, and greater convenience in using two-wheeler sharing services are the key factors driving the growth of the European market.
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Base on vehicle, the European electric two-wheeler sharing market is categorized into scooter/moped and kick scooter. The electric scooter/moped sharing service dominated the European market during the historical period. This service is in operation in Europe since the last five years. Considerable number of players are offering this service in different countries of the region. However, many new kick scooters sharing service providers have entered the European market in the recent years, owing to high growth potential of the market.
On the basis of trip, the European electric two-wheeler sharing market is categorized into one-way and round. One-way trip-based sharing service held larger market share in 2018 and is expected to continue dominating the market during the forecast period, mainly due to service flexibility and convenience it offers.
Electric two-wheeler sharing programs are more convenient for general public, mostly daily commuters as they can reach to their required destinations without having their own vehicles. The users need not have to take hassles of owning their own vehicles, which include vehicles’ maintenance, insurance claims, charging of the vehicles, parking arrangements, and other adjoining responsibilities. The users need to make payments only on the basis of the time and distance travelled, along with an initial registration cost for using this service.
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Electric two-wheeler sharing providers in Europe observe huge opportunities for growth, owning to the significant amount of investments received from top investors of the world. For instance, in 2018, the European investors Index Ventures and Atomico, massively invested in two of the top U.S. electric kick scooter sharing companies, namely Bird Rides Inc. and Neutron Holdings Inc. (Lime), respectively. Index Ventures headed Bird’s Series B round with investment of amount $100 million, whereas Atomico did not disclose the amount invested in Lime. These investments have triggered the expansion of the European electric two-wheeler sharing market.
Spain was the largest market for electric two-wheeler sharing service in Europe in 2018. The introduction of this new form of transport received popularity in major cities of the country. The vibrant scooter culture in Barcelona has also helped electric two-wheeler sharing market to grow in the country. However, Germany is expected to be the largest market during the forecast period. The demand for electric two-wheeler sharing services in the country is expected from cities such as Berlin, Bielefeld, Frankfurt, Mannheim, Munich, Oberhausen, Osnabrück, Tübingen, Cologne, Düsseldorf, Hamburg, and Stuttgart.
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Some of the major players operating in the European electric two-wheeler sharing market are Electric Mobility Concepts GmbH, Cooltra Motos SL, Cityscoot SAS, Felyx Sharing B.V., COUP Mobility GmbH, Sharing Muving S.L.U., YUGO Urban Mobility SL, MiMoto Smart Mobility Srl, Bird Rides Inc., Neutron Holdings Inc., and VOI Technology AB.
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