Canada Bike Sharing Market: Industry Analysis and Forecast (2024-2030) by Bike Type, Bike Model, Sharing System, and Region.

Canada Bike Sharing Market Overview:

Public bike share programmes remove some of the hurdles to bicycle ownership, such as fear of theft or vandalism, a lack of parking or storage, and the need for maintenance. In metropolitan areas, these initiatives are becoming more frequent, and their scope is expanding. Canada is following suit, with the first public bike share programme launching in Montreal in 2009 (with 7550 bikes in 2020), followed by programmes in Toronto (3850 bikes in 2020) and Vancouver (1850 bikes in 2020).

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Canada Bike Sharing Market Dynamics:

The province has an all-ages helmet regulation that applies to cycling on roads, and the city has a bylaw requiring helmets on most off-road trails, which makes the Vancouver bike share programme unique. Every bike in the bike share system comes with a helmet. Other big Canadian bike share systems exist in provinces where helmet use is not required (Quebec) or where helmets are not provided (Ontario). Helmet law has been criticized as a barrier to cycling adoption and a potential danger to bike share programmes' effectiveness.

Only 6% of people stated in the Canadian Transport Survey, 2020 that they were likely to utilize the programme one year after it was launched, compared to 24% who said they were likely to use it before it was established. The bike share system had no effect on overall bicycling in the city, but it was linked to a doubling of riding among people who lived and worked in the bike share system's service area. One year into the programme, 23% of respondents who had not yet used bike sharing said they were likely to use it within the following year (possible users), while 77% said they were unlikely to use it. Potential users were younger, employed, had lower salaries, used public transportation as their major source of mobility, and did not possess a personal vehicle when compared to improbable users.

The most crucial elements impacting Canadian citizens’ chances of using the PBSP programme, according to the pre-implementation poll, were a connected network of protected cycle routes and excellent weather. Top motivators after introduction included health/exercise (45%), stations near their home (45%), and destination (37%) as well as not having a personal bicycle (40%). The most significant impediments to adopting the system were contentment with present modes of transportation, followed by environmental issues. Cost was a deterrent for 20% of doubtful users, which is noteworthy given their lower salaries than Mobi members.

Infrastructure Bonanza by Canadian Government:

• Last year, the Toronto Parking Authority added 160 stations and 1,850 bikes to its fleet, bringing it to 6,850 bikes docked at 625 stations. The changes were made in front of the epidemic.

• The city constructed 40 kilometres of bike lanes and restricted four main streets to automobiles on weekends thanks to ActiveTO. Last year, 29 percent of people rode a bike for the first time or rediscovered cycling, thanks in major part to the street closures, according to an evaluation.

• The Signal studied bike share data to identify the top 25 most popular stations for picking up a bike. According to the findings, the majority of the top sites in 2020 will be along the Lakeshore, which is part of ActiveTO. This pattern was not the same as the one witnessed in 2019.

Public Transit Changes since COVID-19 Outbreak:

Prior to the pandemic, 75% of workers drove their own cars to work, 13% took public transportation, 7% walked or cycled to work, and roughly 1% took another means of mobility. Only about 1 in every 20 workers teleworked (4%). Although private vehicles have remained the most popular means of transportation since the outbreak, their proportion has dropped from 75% to 67 percent in June. The proportion of workers who used public transportation fell even more dramatically, from 13% to 3% of workers, or half the rate of those who walked or bicycled to work (6%). In June, 22% of Canadians worked from home, with only 2% using another method of transportation.

The purpose of this research is to provide stakeholders in the industry with a thorough insight into the Canada Bike Sharing market. The study includes an analysis of difficult data in simple language, as well as the industry's historical and current state, as well as anticipated market size and trends. The market report examines all segments of the industry, with a focus on significant players such as market leaders, followers, and new entrants.

The report includes a PORTER, PESTEL analysis as well as the possible influence of microeconomic market determinants. External and internal elements that are expected to have a favorable or negative impact on the firm have been examined, providing decision-makers with a clear future vision of the industry. The research also aids in comprehending the Canada Bike Sharing market dynamics and structure by studying market segments and forecasting market size. The research is an investor's guide since it depicts the competitive analysis of major competitors in the Canada Bike Sharing market by product, price, financial situation, product portfolio, growth plans, and geographical presence.

Major breakthroughs in the Canada Bike Sharing industry are discussed, as well as organic and inorganic growth plans. Various companies are focusing on organic growth strategies such as new product releases, product approvals, and other items such as patents and events. Inorganic growth strategies used in the industry included acquisitions, partnerships, and collaborations.

Canada Bike Sharing Market Scope:

Canada Bike Sharing Market Players