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In November, 1.5 million shared bikes circulated in Shanghai alone, equivalent to one bike for every 16 inhabitants. The number of bikes had fallen to 1.1 million by the end of October 2017 as operators were forced to remove bikes in poor condition. In September 2017, 15 separate operators had approximately 2.3 million shared bikes in the city of Beijing, however the addition of additional bikes was prohibited. In 2020, the Chinese market grew 7.1% year on year and is predicted to increase at a CAGR of 4.62% during the forecast period.
China Bike Sharing Market Report Scope and Research Methodology:
The main aim of the report is to provide a complete analysis of the China Bike Sharing market in simple language including qualitative and quantitative data. It also provides an in-depth analysis of the latest trends in each segment from 2022-2029 with a comprehensive analysis of the China Bike Sharing market drivers, restraints, challenges and opportunities. The report covers all the main aspects of the China Bike Sharing market with an analysis of the value chain, PESTLE Analysis, Porter’s Five Forces model, market forecasts in terms of value competitive landscape, Key players benchmarking, market dynamics and future trends in the market.
The bottom-up approach was used to estimate the and regional China Bike Sharing market size. The primary and secondary research methods were used to get the data and the data was gathered by using both methodologies to get accurate and error-free findings on the China Bike Sharing market. The primary research included interviews with industry participants, subject-matter experts, high-level executives of key market players, industry consultants and other experts. The secondary research includes data collection from the selected set of sources for the China Bike Sharing market report. The PESTLE analysis used in the report, aids in the development of company strategies in the China Bike Sharing industry. SWOT analysis was conducted to provide the strengths and weaknesses of the China Bike Sharing Market.
China Bike Sharing Market Report Overview:
Stellar Market Research has issued reports that assist clients in understanding the landscape of the China Bike Sharing Market in which the client competes. The research provides market insights to help businesses predict future demand for their product and how competitive the China Bike Sharing is going to be. The China Bike Sharing Market overview provides detailed information on the market's size, trade data, key players, and various market metrics such as life cycle, trends, and so on.
China Bike Sharing Market size was valued at US$ 1.17 billion in 2020 and the total China Bike Sharing Market revenue is expected to grow at 4.62% through 2021 to 2027, reaching nearly US$ 1.61 billion.
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China Bike Sharing Market Dynamics:
Several bike sharing companies began to diversify their businesses at the beginning of 2018 in order to stay viable. In the future, one frequent aim is to offer ebike sharing services. Mobike stated in January 2018 that it would enter the ride hailing business with a small experimental project in Guizhou. Almost simultaneously, oBike became known for providing a tiny delivery service under the moniker oBike Flash. Compliance with regulatory requirements in China:
China Bike Sharing Market Segmentation:
The dockless bicycle sharing business model does not provide economies of scale and is highly capital intensive. So far, despite the large investment, none of the Chinese operators are making a profit. There are many articles about how unsustainable the entire business model is, as it is cheaper to put in a new bike than to repair a broken bike. Therefore, many believe that the actual business model is data acquisition. This was confirmed when journalists discovered a major data breach with operator oBike in November 2017. Bicycle-sharing companies burned cash rapidly, and in December 2017, rumors emerged that ofo's cash was only $ 53 million and Mobike's cash was $ 1.86 trillion. Each reportedly spent more than $ 466 million in deposit funds to fund the business. However, both companies have denied these claims. Bluegogo, the third largest company, went bankrupt in mid-November 2017. But this is not the only company, in 2017 five Chinese bike share operators went bankrupt and $150 million in deposits could not be refunded to users, as it seems that deposits are often used to advance the business. Due to problems with paying back deposits when an operator is going bankrupt, the Chinese Consumer Association is now asking for stricter regulations on deposits.
China Bike Sharing Market Regional Insights:
The Regional Analysis in the report helps to understand the China Bike Sharing market in various countries. Every region has different factors such as political, geographic, buying behavior, etc. which are affecting the China Bike Sharing market. Local development plans are often affected by the performance of China Bike Sharing market. The report includes a detailed analysis of all the factors, market size, growth rate, and import and export in regions covering North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
China Bike Sharing Market Key Players:
Didi Bike
HelloBike
Ofo
Qingju Bike
Meituan Bike
Key questions answered in the Automotive Relay Market are:
Key Offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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