In 2018 for many cities outside China they became a little less numerous, as the Chinese bike sharing service Ofo contracted its operations and pulled its distinctive yellow machines from the streets.

Ofo’s smaller peer, No.1 Bicycle, halted services in February, while Bluegogo, facing financial pressure late last year, ended in a tie-up with ride-hailing giant Didi Chuxing.

Similar business models in China led to the creation of bicycle-hailing startups such as Ofo and Mobike, which became pioneers of the category and have since expanded to other parts of Asia and ...