Taxi services

Cycle taxi services in Indian market to reach $1.46 billion

Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the Indian bike taxi market generated $50.5 million in 2021 and is projected to reach $1.46 billion by 2030, growing at a CAGR of 48.5% from 2022 to 2030. The report provides a detailed analysis of the changing dynamics of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Rising trend of on-demand transportation services, increasing traffic congestion in Indian cities and increased demand for first and last mile connectivity are pushing the growth of indian bike taxi market. However, legal issues associated with bicycle taxi services and resistance from local public transport operators have hampered the growth of the market. Additionally, technological advancements in the bike sharing system and increase in the inclusion of e-bikes are expected to generate potential opportunities for the market over the forecast period.

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COVID-19 scenario:

  • The outbreak of the COVID-19 pandemic has negatively impacted the growth of the Indian bicycle taxi market, owing to the implementation of lockdown.
  • Social distancing norms and regulations put in place by health and government authorities have encouraged citizens to maintain a distance of two meters from other people for safety reasons. This has limited the use of transport services such as taxis and bicycle taxis for daily trips. Users prefer to travel in their personal vehicles due to security concerns, which has hampered the taxi business.
  • In 2020, along with the taxi and ride-sharing industry, bike taxi companies such as Rapido, Ola, Uber and others have suffered badly due to travel restrictions and closures. For example, in March 2020, major bicycle taxi providers Rapido and OLA temporarily suspended operations in India.

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The report offers detailed segmentation of vehicle type and propulsion type based on India bicycle taxi market.

Based on vehicle type, motorcycle segment held the highest market share in 2021, holding almost three quarters of the total market share, and is expected to maintain its leading status during the forecast period. However, the scooter segment is estimated to register the highest CAGR of 51.3% from 2022 to 2030.

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Based on propulsion type, ICE segment held the largest market share in 2021, holding almost 93% of the total market share, and is expected to maintain its leading status during the forecast period. However, the electric segment is expected to register the highest CAGR of 80.6% from 2022 to 2030.

The major players of the India bicycle taxi market analyzed in the research are Baxi, Bikxie, Desto-Bike Taxi, Dunzo, Jugnoo, Mopedo, Ola (ANI Technologies Pvt Ltd), PykUpz, Rapido, and Uber Technologies, Inc.

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Similar reports we have on the automotive industry:

Bike taxi market by type of reservation (online reservation and offline reservation), type of vehicle (motorcycles, cars, vans and others), type of preference (city transport station and rental) and type of service (mobile car and carpooling): analysis Global Opportunities and Industry Forecast, 2021–2030.

Bicycle rental market by type of service (pay-as-you-go and subscription), by propulsion (petrol and electric), by duration (short-term and long-term) and by application (touring and commuting): analysis of global opportunities and forecasts of the industry, 2020-2030.

bike sharing market By Bike Type (Traditional/Convection and E-Bikes) and Sharing System (Dock and Dockless): Global Opportunities Analysis and Industry Forecast, 2020-2030.

Adventure bike rental market By Rental Duration (Short-Term and Long-Term), Application (Visits and Daily Rides), Service Type (Pay-As-You-Go and Subscription-Based): Global Opportunities Analysis and Industry Forecast, 2021-2030.

scooter sharing market per trip (one way and round trip), mode of booking (online and offline): global opportunity analysis and industry forecast, 2021-2030.

Carpooling market By Booking Type (Online Booking and Offline Booking), Trip Type (Intracity and Intercity) and Vehicle Type (Cars, Motorcycles and Others): Global Opportunities Analysis and Industry Forecast, 2021-2030.

Motorcycle rental market By Type (Luxury Motorcycle and General Motorcycle) and Application (Motorcycle Touring and Commuting): Global Opportunities Analysis and Industry Forecast, 2021-2030.

Passenger car rental market by type of vehicle (economy vehicle and luxury vehicle), by type of reservation (online and offline) and by type of end user (autonomous and rental agencies): analysis of global opportunities and industry forecasts, 2020-2030.

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