Shared Mobility - Bhutan

Bhutan

The Shared Mobility market in Bhutan is expected to see a significant increase in revenue, with an estimated projection of US$17.86m by 2024.
Furthermore, the market is expected to grow at an annual growth rate (CAGR 2024-2029) of 3.90%, leading to a projected market volume of US$21.63m by 2029.
Among the various Shared Mobility markets, the Public Transportation market is anticipated to generate the most revenue, with a projected market volume of US$10.30m in 2024.
By 2029, the number of Public Transportation users is expected to reach 439.60k users.
The user penetration rate in the Public Transportation market is predicted to increase from 77.2% in 2024 to 88.0% by 2029.
The average revenue per user (ARPU) is also expected to rise and amount to US$29.19.
It is projected that by 2029, 45% of the Shared Mobility market's total revenue will be generated through online sales.
In a global comparison, China is expected to generate the highest revenue, with US$365bn projected in 2024.
Despite this, the growth potential for Shared Mobility market in Bhutan is significant and should not be overlooked.
Shared mobility in Bhutan is gaining traction as the government promotes eco-friendly transportation alternatives.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in Bhutan is experiencing a unique growth trajectory driven by specific customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Bhutanese consumers are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared mobility services such as ride-hailing, bike-sharing, and carpooling are gaining popularity due to their cost-effectiveness and environmental benefits. Additionally, the younger population in Bhutan, with a growing tech-savvy demographic, is more inclined towards embracing innovative mobility solutions that offer flexibility and ease of access.

Trends in the market: One notable trend in the Shared Mobility market in Bhutan is the rise of electric vehicle (EV) adoption within shared transportation services. As Bhutan places a strong emphasis on environmental conservation and sustainability, the shift towards EVs in shared mobility aligns with the country's commitment to reducing carbon emissions. Furthermore, the government's support for EV infrastructure development and incentives for electric vehicles are driving the integration of eco-friendly transport options in the shared mobility sector.

Local special circumstances: Bhutan's unique geography and cultural heritage play a significant role in shaping the Shared Mobility market. The mountainous terrain and limited road infrastructure in certain regions make shared transportation services a practical and efficient choice for both locals and tourists. Moreover, Bhutan's focus on Gross National Happiness (GNH) as a development philosophy emphasizes the well-being of citizens, leading to a holistic approach towards mobility solutions that prioritize community welfare and environmental harmony.

Underlying macroeconomic factors: The government's initiatives to promote sustainable development and reduce reliance on fossil fuels are key macroeconomic factors driving the growth of the Shared Mobility market in Bhutan. Policies supporting clean energy solutions and public transportation systems contribute to the overall ecosystem of shared mobility services in the country. Additionally, Bhutan's strategic location between major economic hubs in the region presents opportunities for cross-border collaborations and the expansion of shared mobility networks beyond national borders.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rentals, ride-hailing, taxi, car-sharing, bike-sharing, e-scooter-sharing, moped-sharing, trains, buses, public transportation, and flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.