t Chinese Bike-Share(共享单车) Market Size Will Reach 10.28 Billion RMB

QYResearch Center Forecast That Chinese Bike-Share Market Size Will Reach 10.28 Billion RMB Analyst: Wang Haile Publisher: QYResearch Center Date: Jun 20, 2017 QYResearch Center recently published Chinese Bike-Share Market Research Report 2017, data showing that Chinese total Bike-Share running volume is more than 4 million units by mid-March, 2017. As top 4 first-tier cities in China, the economics of Beijing-Shanghai-Guangzhou-Shenzhen is developing rapidly, willing to try some new things meanwhile the number of stationed Bike-Share platforms in the four cities is more than other cities, and the market share of running Bike-Share is already exceeding 70%.

Since the second half year in 2016, the Bike-Share platforms are putting more bikes in many cities of China to increase the user number.

Report showing that, the Bike-Share market size in 2016 reached 1.23 billion RMB and forecast that the market size will reach 10.28 billion USD, with a growth rate 735.8%.

The Bike-Share user number will keep ultra-fast growth rate in 2017, reaching 209 million.

Both Market Size and User Volume Are Explosive Growth City Coverage Rate of Ofo is No.1

Data showing, in 2016, China Bike-Share market size reached 1.23 billion RMB and forecast that the market size will reach 10.28 billion USD, with a growth rate 735.8%; the user volume is 28 million, and forecast reaching 209 million in 2017, with a growth rate 646.4%, China Bike-Share market will still keep ultra-rapid growth rate.

NOTE: Chinese Bike-Share market size includes revenues from bikes circulation and use,

related advertisement etc aspects

In terms of city coverage rate of China Bike-Share market, Ofo is No.1. The analyst from QYResearch center thinks that, seeking the rapid market expansion is still one important competitive strategy for Bike-Share in 2017.

Beijing-Shanghai-Guangzhou-Shenzhen is the Main Stage for Bike-Share

In terms of bikes running number of bike-share platforms, Ofo and MoBike are comparable. MoBike claims that they set 100 thousands units bikes per city as one goal, other platforms, such as Bluegogo, 1-Step, started up relatively late, the bikes putting on market is relative less.

The analyst from QYResearch center thinks, rapid putting promotes the users number of platforms while rapid influx may bring great pressure on city management. In the future, the platforms will further increase the bikes putting number in second-tier cities on basis of increasing the putting number in first-tier cities.

Bike-Share Price Competition Broke Out

Since 2017, Bike-Share platforms competition further aggravated. Many platforms, such as Ofo, and MoBike begins the price competition. They adopt “Limited Free Ride”, “Charge and Cash Back” successively etc patterns to attract the users to try Bike-Share out, improve use frequency of Bike-Share users and further cultivate users using habits. The analyst of QYR research center thinks, price competition will accelerate phase-out a batch of platforms whose capital reserves are not strong enough.