Bike rental business revenue in Europe and the UK explodes

Rapid Growth in the Bike Rental Industry

5 min read

The Bike Rental Boom

From 2021 to 2023, a period of economic dynamism, the bike rental sector demonstrated remarkable resilience and adaptability, thriving despite the complex interplay of macroeconomic factors. These included the lingering effects of the COVID-19 pandemic, geopolitical tensions, economic inflation, and supply chain disruptions. Manager users had a dramatic average rental revenue growth from 2021 to 2023.

Pioneering the Future of Bike Rentals with Manager

According to Allied Market Research, the global bike rental industry experienced significant growth during this period. The market was valued at $2.1 billion in 2021. In 2022, the market size was approximately $5.32 billion, with a projected growth rate of nearly 20.62% until 2030. This growth is fueled by factors such as investments in cycling infrastructure, a surge in cycling tourism, increasing popularity of sustainable transportation options, and technological advancements in bike rental software, including Manager.

Grand View Research stated the global cycle tourism market size was valued at $116.73 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2023 to 2030. The growth of the global market is driven by a significant rise in the number of cycling participants travelling long distances, increasing penetration of adventure cycling/camping and adventure sports among millennials, and government initiatives to develop domestic and international tourism across the economies.

Download here the full report for A BRM Business Analysis of the Global Bike Rental Market and country-specific data

The global bike rental market is experiencing significant growth and transformation and is poised for further expansion in 2024 and beyond. Here is how the bike rental industry is changing.

Businesses using BRM soared with a 215% rental revenue growth in 3 years!

The average year-on-year growth rate for 101 Manager businesses across France, Italy, Spain, the UK, the USA, Canada, New Zealand, and Australia from 2021 to 2023 was approximately 90%.

Download here the full report to find out more about the significant growth in key countries

Bike rental business revenue in Europe and the UK explodes

The bike rental sector is emerging as a beacon of resilience within the cycling industry

The cycling industry relies on three interconnected pillars: retail, rental, and repairs. The synergy among these pillars is crucial to the industry’s success and growth. While it may not be feasible for all businesses to integrate all three pillars, those that do often see substantial benefits.

Understanding the impact of Manager on business growth is crucial.

Bike rentals and bike demos help build a strong foundation for growth, revenue, and customer engagement to better position and grow your bike rental business

Bike rental business revenue in Europe and the UK explodes

Bike rentals and bike demos help build a strong foundation for growth, revenue, and customer engagement, thereby better positioning and growing your bike rental business.

Bike rental services powered by Manager cater to a wide range of customers, from tourists and occasional riders to dedicated cycling enthusiasts.

Providing rental options generates revenue and introduces customers to your products, potentially leading to future purchases. Bike rentals offer a steady revenue stream, particularly during peak months.

Enhancing the rental experience by integrating demo rides within bike rental services can further drive retail sales.

Offering test rides allows customers to make informed purchase decisions, serving as an effective marketing and sales tool that showcases the quality and performance of your bikes and accessories.

Bike rental business revenue in Europe and the UK explodes

Additionally, offering demos or rentals gives you access to ex-rental bikes. This creates an opportunity to attract customers to your store, including bargain hunters who might not otherwise visit. It can also increase your discount level with suppliers as you’ll be purchasing more products. Brands value rentals/demos as they get their new bikes in front of potential customers quickly within the short selling season of the cycling industry.

The growth of the bike rental sector reflects the increasing demand for these services within the cycling industry and their positive impact on the overall market. As the market grows, businesses that recognize the power of rental services can capitalize on their potential, positioning themselves for further success and growth.

How to grow your business with Manager

Book your free Demo and build a strong foundation for growth, revenue, and customer engagement. Manager is not just a tool; it’s a game-changer for the bike rental industry. With BRM, businesses can expect improved operational efficiency, enhanced customer satisfaction, and, most importantly, increased revenue. 

These 5 BRM benefits will Unlock your Business Growth

Make every ride memorable for your customers! And they’ll share their positive experiences with others.

Share this post