The bike rental market - Italy

The global bicycle rental market has experienced robust growth, with its valuation increasing from $2.1 billion in 2021 to a projected $11.3 billion by 2031, registering a CAGR of 18.3% from 2022 to 2031. This surge is driven by the rise of micro-mobility, which offers affordable, emission-reducing transportation solutions, particularly in urban areas with high demand for alternative transit options. Traditional pedal bicycles dominate the market share, but the e-bike segment is expanding rapidly due to its convenience. The Italian market aligns with these global trends—despite a dip in production volumes post the prior two years' surge, revenues have continued to ascend since 2020, particularly due to pedal-assist and high value-added models. Sales in Italian bicycle and component production approached 2 billion euros in 2022, marking a 10% increase from the previous year, with forecasts for continued growth. The sports equipment rental sector, inclusive of bike rentals, grew to 365 million euros in revenue in Italy in 2021, an 18% rise. Bike rentals specifically amounted to €67,520,017. Italy's exports in the bicycle and component manufacturing sector, categorized under HS code 8712, have consistently outpaced imports, maintaining a robust trade surplus with 21% of turnover generated internationally in 2022. Italy's bike rental demand, part of a market moving about 200 million euros annually, caters to urban users, occasional cyclists, tourists, and sports enthusiasts, with notable growth in cyclotourism, influencing market trends and shaping the demand profile geographically and across different consumer segments.

Blossoming Demand for Bicycle Rental in Italy

Italy's bicycle rental market is riding the wave of a significant upward trajectory. Anchored by the global market's robust expansion, which forecasts a surge from approximately $2 billion in 2021 to beyond $10 billion by 2031, Italy's specific sector encapsulates a diverse array of consumer demands and preferences that shape its current trends. Fueling this growth within Italy, the bicycle manufacturing industry has maintained its momentum, undeterred by the recent boom. While production volumes have naturally tempered after a peak period, manufacturers are reporting not just rising revenues but also an upswing in typical profitability and returns on investment. These gains, stemming from a focus on pedal-assist technology and higher-value models, bolster the rental market significantly. Indeed, by 2022, the Italian bicycle and component production almost reached the $2 billion threshold, registering a substantial increase of approximately 10 percent from the year before. This positive trend is expected to continue moderately into 2023, with projections placing sector revenue at over $2 billion. Tourists and bicycle tourists spearhead the demand for bike rentals in Italy, with an astounding 6.3 million tourists opting for bicycles during their vacations, propelled primarily by a legion of foreign visitors rather than domestic tourists.

A healthy portion, about 30 percent, are cycle tourists—those who integrate biking as a core part of their travel experience, while the remaining 70 percent are classified as active tourists, using bikes for casual transport during their stays. The appeal of biking opportunities in Italy is not lost on its own citizens, either. When Italians plan their getaways, bike rentals rank impressively high—third in fact—with over half citing such rentals as preferred means of transport. This preference stems from a blend of economic sense and convenience, which resonate strongly amid holiday-goers. Diving deeper into Italy's fervor for cycling tourism, an impressive number—between 30 and 35 million recorded presences in 2022—highlights a direct economic impact totaling several billion euros, ensuring bicycles maintain their prominence in both the tourism and rental markets. The push for environmental conservation and sustainable mobility further amplifies this demand. Increasingly aware of eco-conscious choices, urban dwellers are turning to bicycles as an alternative to congested public transport modalities. This societal shift is met with governmental support, manifesting in public funding that facilitates continued market growth. Of particular note is the surge in e-bike sales—a segment that has witnessed an average annual growth of over.

Pioneers of Italy's Booming Bicycle Rental Landscape

The bicycle rental market in Italy is not just thriving; it's being reshaped and redefined by innovative companies that have grasped the essence of present-day mobility needs. Each player brings its unique flair to the thriving sector, catering to a variety of users from daily urban commuters to passionate cyclotourists. Here's a closer look at the frontrunners steering the growth of this market.

• Ridemovi Spa:  A titan in Europe's shared micro-mobility segment, Ridemovi Spa has become synonymous with flexible and eco-friendly urban travel. With its digital platform, the company simplifies the process of finding, unlocking, and parking an array of vehicles including bikes, e-bikes, and e-scooters. Their strong partnership with local municipalities reflects their commitment to sustainability and responsible mobility.
• Lime Technology Srl: Lime Technology has emerged as a stalwart environmental advocate in the Italian mobility industry. Collaborating with Neutron Holdings Inc. from the U.S., Lime Technology delivers an integrated system of electric scooters and bikes. Their eco-conscious approach focuses on revolutionizing urban commuting while ensuring that riders have both access to sustainable options and a safety-centric experience.
• Papin Sport Srl: With roots stretching back to 1979, Papin Sport has built a formidable presence in the bicycle rental market. Founded by Karl Friedrich Schmidhofer and Sigrun Schmidhofer, the company has expanded from its first sports store in San Candido to a network that encompasses bicycle rental services along picturesque routes, sports stores, and aptly equipped service stations.
• Helbiz Italia Srl:  Helbiz Italia is cultivating a future-forward vision for micro-mobility across several international markets. Their suite of micromobility services includes cutting-edge e-bikes and scooters, all integrated seamlessly to promote efficient urban transportation. Their collaboration with city planners is testament to their dedication to creating accessible, secure, and progressive transportation ecosystems.
• Birorent Srl: Known prominently as Fantic Rent, Birorent serves as a beacon for top-tier e-bike rental services in the realm of medium- and long-term leasing. Their portfolio offers a comprehensive selection of electric bikes suitable for various terrains and purposes, undergirded by a commitment to assist customers seven days a week.
• Danger Zone Srl: A purveyor of mountain biking adventures, Danger Zone has more than 15 years under its belt in the bicycle rental industry.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 15/01/2024

Summary and extracts

List of charts

• Global bicycle rental market
• Bicycle market and composition
• Import-Export of Bicycles
• Main suppliers of bicycles
• Main destinations of bicycle exports
• Tourists who have used bicycles
• Origin of the bicycle used for the vacation
• Favorite means of movement for Italians on vacation
• Motivations of Potential Bicycle Tourists
• Favorite regions for bicycle tourists
• The demands of the application
• Distribution of revenues of bicycle trade enterprises and their distributors