The Europe electric two-wheeler sharing market is estimated to
grow to $597.2 million by 2025 at a 35.0% CAGR during the forecast period
(2019–2025), owing to the technological advancements in sharing services,
increasing concerns over greenhouse gas emissions, and worsening urban road
congestion. Furthermore, convenience in using shared vehicles is one of the
factors driving the market growth. Sharing services refer to a facility, in
which electric two-wheelers are available for short-term rentals.
Based on vehicle, the European electric two-wheeler sharing
market is classified into kick scooter and scooter. Among these,
electric scooters, due to the availability of scooter sharing services in the
region from the last five years, dominated the market in the historical period
(2017–2018) and will continue to do so in the future as well. However, in the
near future, the market for kick scooters is anticipated to witness faster
growth, at a CARG of over 65.0%.
The European electric
two-wheeler sharing sector players currently have huge growth opportunities due
to the large investments made by top investors from across the globe. For
example, in 2018, Atomico and the European Investors Index Ventures invested in
two U.S. companies offering electric kick scooter sharing services, namely
Neutron Holdings Inc. (Lime) and Bird Rides Inc., respectively. Index Ventures
invested around $100 million in the Series B round of Bird, whereas Atomico did
not share the amount it invested in Lime.
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In 2017, Germany
dominated the electric two-wheeler sharing market in Europe going by the total
sharing rides taken in a year. However, in 2018, Spain held the largest market
share in terms of volume as well as value, owing to fact that many major sharing
service providers here massively increased their fleet, thereby leading to the
market growth. This shows that this new form of transportation is gaining
popularity all across the country. For instance, in Barcelona, many players
have begun operations, as the scooter culture is quite prevalent in the city.
Now, technological advancements are one of the major factors
driving the growth of the electric two-wheeler sharing market in Europe. The
domain is completely dependent on technology, which proves instrumental in
taking the services within easy reach in every corner of a city at the time of
requirement. The services are majorly availed via mobile apps, where users and
providers get in touch with each other for parking vehicles, booking rides and
even at the time of payment.
Furthermore, many technological innovations have been introduced
with unique concepts to boost the electric two-wheeler sharing market in
Europe. Technological innovations, such as the introduction of the internet of
things (IOT) and cloud computing, are aiding in the growth of the domain. IOT
in the fleet management system has proved beneficial for operating an electric
two-wheeler sharing service, as it helps in optimizing the sharing process via
efficient vehicle monitoring and tracking, route handling, and potential
problem detecting from a remote location.
Hence, with technological innovations and the growing popularity of kick scooters in
various cities of the continent, the electric two-wheeler sharing market in
Europe is expected to grow.
