Article -> Article Details
| Title | Vietnam Bike Sharing Market Size, Share, Trends and Forecast 2025-2033 |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Vietnam Bike Sharing Market |
| Owner | Rahul Kumar |
| Description | |
| The Vietnam bike sharing market size was valued at USD 15.32 Million in 2024 and is projected to reach USD 22.09 Million by 2033. The market is expected to grow at a CAGR of 4.15% during the forecast period of 2025-2033. This growth is driven by rapid urbanization, increased traffic congestion, government initiatives promoting green transportation, rising environmental awareness, and the expanding adoption of digital payment systems. Study Assumption Years
Vietnam Bike Sharing Market Key Takeaways
Sample Request Link: https://www.imarcgroup.com/vietnam-bike-sharing-market/requestsample Market Growth Factors The market for bike sharing in Vietnam is supported by government green transport policies. The Vietnamese government's Action Programme on Green Energy Transformation sets targets for 100 percent of public buses to be electric by 2025, 50 percent of vehicles to run on green energy by 2030, and for no fossil-fuel vehicles by 2040. They also create an enabling environment for bike sharing with, in particular, an increasing presence of local governments willing to promote sustainable transportation with investment in cycling infrastructure, laying the foundation for long term growth. Urban infrastructure and smart city projects are also key areas of growth, such as Hanoi's goal to extend the urban bicycle pilot service to 2025. The service of 79 stations and 1000 bicycles seeks to relieve congested traffic while improving last-mile connectivity. Dedicated lanes, secured parking bays and an Integrated Urban Mobility Infrastructure enabling the use of Internet of Things (IoT) connectivity, would help in promoting domestic and foreign operators into the market, easing innovations and improving competition. The rising environmental awareness of the Vietnamese inhabitants in the cities and adoption of digital payment systems, the wider adoption of GPS, smartphone applications and Internet of things (IoT) sensors offer an improved ease of use and operation of the bike sharing scheme encouraging transfers to public transport and increasing the bike sharing sector's market scope in major Vietnamese urban areas. These enablers propel the Vietnamese bike sharing sector towards growth. Market Segmentation Analysis by Bike Type:
This segmentation covers both traditional bikes and electric bikes, reflecting the diversity of bike sharing options available in the Vietnam market. Analysis by Sharing System:
The sharing system segmentation considers docked and dock-less options, which vary in operational setup and user access. Analysis by Application:
Applications include short-term and long-term usage patterns, catering to different user needs. Regional Insights The Vietnam bike sharing market covers Northern Vietnam, Central Vietnam, and Southern Vietnam. Urban infrastructure development and government initiatives are supporting growth equally across these regions. Notably, Hanoi in Northern Vietnam is expanding its urban bike pilot program, indicating strong regional commitment toward integrating bike sharing into urban transport networks. Recent Developments & News In December 2024, JiBike launched an electric bicycle rental service in Hue, Vietnam. The initiative features 280 electric bikes initially, with expansion plans targeting 1,000 bikes by 2025. This move aims to promote eco-friendly transportation options for the approximately 3.2 million annual tourists visiting Hue, enhancing the sustainable tourism experience in the region. Competitive Landscape The competitive landscape of the industry has also been examined along with the profiles of the key players. Customization Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization. About Us IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research. Contact Us IMARC Group, 134 N 4th St. Brooklyn, NY 11249, USA, Email: sales@imarcgroup.com, Tel No: (D) +91 120 433 0800, United States: +1-201971-6302 | |