Overseas Markets Offer Huge Opportunities for China's Bike-Sharing Giants, Says Report
Xu Wei
DATE:  Mar 09 2018
/ SOURCE:  Yicai
Overseas Markets Offer Huge Opportunities for China's Bike-Sharing Giants, Says Report Overseas Markets Offer Huge Opportunities for China's Bike-Sharing Giants, Says Report

(Yicai Global) March 9 -- The number of shared-bike users worldwide will rise further and may reach 306 million by next year, with Asia and some other overseas markets are set to offer huge growth potential for service providers, said a report on the future of the sector.

Shared-bike services will grow at a rate of five-fold to 10-fold in overseas markets in the next two years and Asia will become a main battlefield for major players in the sector due to its large population and rapid growth, said a report on global development of bike sharing published by Cheetah Lab, a mobile data research institution of Cheetah Mobile Inc.

Favored by investors, China's bike-sharing market has grown rapidly with stiff competition. Following several shake-ups, the market in China's first-tier cities now is dominated by Mobike operated by Beijing Mobike Technology Co. and Ofo run by Beijing Bikelock Technology Co.

As several Chinese cities have reined in the total number of shared bikes, the firms turned their attention to overseas markets from China's first-tier cities, the report noted.  

Mobike and Ofo are building their presence in Japan, Singapore and the UK more swiftly and expand into different continents and regions from the Middle East to Central and Latin America, rolling out services one after another.

China and Singapore remain the most popular Asian regions for bike sharing in terms of the distribution of active users worldwide, followed by European markets led by the UK, France and Italy, while sharing bikes are gaining popularity in the U.S., said the report.

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Keywords:   Cheetah Mobile,Cheetah Lab,Bike Sharing,ASIA,OFO,Mobike