China’s bicycle manufacturing industry is expected to explode due to the bike-sharing industry boom.
According to the China Daily, the demand for bicycles has shot up to an estimated 20 million bikes due to the growing bike-sharing industry.
China has the largest bike-sharing services compared to other nations and the service allows commuters to escape traffic gridlock and use bikes for as little as ($0.15) per hour.
Bike-sharing commuters use a mobile application like Uber (taxi app) to unlock bicycles and drop them off at their destination for the next commuter.
Chinese government revealed in the newspaper that in the last few years nearly 30 bicycle brands have sprung up, placing more than 3 million bicycles on the streets across China.
Liu Xuequan, who heads the association of the bike industry in Tianjin said the new business has given a push to a group of traditional bike manufacturers in the country.
“When there were no bike-sharing services, we had peak and slack seasons in production. But now, we are busy all year round,” an executive of a bike manufacturing company Flying Pigeon Zhang Jinying told the daily newspaper.
A BigData Research report released recently estimated that the number of shared bicycle users would reach 50 million by the end of 2017.