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Bike-sharing - Albania

Albania

Albania is expected to witness a revenue of US$0.40m in the Bike-sharing market by 2024.
The revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 7.71%, which will result in a projected market volume of US$0.58m by 2029.
The number of users in Albania's Bike-sharing market is projected to reach 32.53k users by 2029.
The user penetration rate is expected to be 0.9% in 2024 and 1.2% by 2029.
The average revenue per user (ARPU) in Albania is predicted to be US$15.67.
Furthermore, 100% of the total revenue in Albania's Bike-sharing market is expected to be generated through online sales by 2029.
It is noteworthy that when compared globally, the majority of the revenue, amounting to US$5,515m in 2024, will be generated in China.
Despite the lack of government support, Albania's bike-sharing market is growing, with private companies filling the gap and expanding their services.

Key regions: South America, Malaysia, India, Indonesia, Saudi Arabia

Definition:

The Bike-sharing market includes short-term bike-sharing services. In bike-sharing services, bicycles are generally owned by a bike-sharing provider and are independently reserved by customers around the clock. Customers are required to open an account with the bike-sharing provider and can then reserve bicycles. This is usually done with a smartphone app, but there are also service providers that allow reservations to be made via the provider's website, by telephone, or at a terminal.

The two most frequently used bike-sharing varieties are the following: station-based (e.g., Stadtrad and Citi Bike New York) and free-floating (such as nextbike and ofo). With station-based bike-sharing, a bicycle is retrieved from a bike-sharing station and returned to either the same station or dropped off at another station. With free-floating bike-sharing, it is possible to find bicycles everywhere within the service provider's business zone and leave the bicycle anywhere in accordance with traffic regulations. Peer-to-peer bike-sharing is not included in the market definition of this market. Moped-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.

Additional Information:

The main performance indicators of the Bike-sharing 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 mentioned market. 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.

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

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Analyst Opinion

Bike-sharing has gained significant popularity in Albania in recent years, with an increasing number of people opting for this mode of transportation.

Customer preferences: Customers in Albania are increasingly choosing bike-sharing as a convenient and eco-friendly means of transportation. The ease of access and affordability of bike-sharing services make them an attractive option for both short commutes and leisure rides. Additionally, the growing emphasis on health and fitness has also contributed to the rising demand for bike-sharing services.

Trends in the market: One of the key trends in the Bike-sharing market in Albania is the expansion of bike-sharing networks across major cities. This expansion has led to a wider availability of bikes and docking stations, making it more convenient for users to access and return bikes. Furthermore, bike-sharing companies are also introducing innovative features such as mobile apps and digital payment systems to enhance the user experience. Another trend in the market is the integration of bike-sharing with other modes of transportation. Bike-sharing services are being integrated with public transportation systems, allowing users to seamlessly switch between bikes and buses or trains. This integration not only provides users with more options for their daily commute but also promotes a multi-modal approach to transportation, reducing congestion and carbon emissions.

Local special circumstances: Albania's unique geography and natural beauty make it an ideal country for bike-sharing. The country is known for its picturesque landscapes, including stunning coastlines, mountains, and historic cities. This makes bike-sharing a popular choice among tourists who want to explore the country at their own pace. Additionally, the compact size of many Albanian cities makes biking a convenient and efficient mode of transportation for locals as well.

Underlying macroeconomic factors: The growing Bike-sharing market in Albania can also be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. This has made bike-sharing more affordable and accessible to a larger segment of the population. Furthermore, the government has been actively promoting sustainable transportation solutions to reduce traffic congestion and air pollution. This has resulted in the implementation of bike-friendly infrastructure, including dedicated bike lanes and parking facilities, which has further encouraged the use of bike-sharing services. In conclusion, the Bike-sharing market in Albania is developing rapidly due to customer preferences for convenience, affordability, and eco-friendly transportation options. The expansion of bike-sharing networks, integration with other modes of transportation, and the country's unique geography and macroeconomic factors are all contributing to the growth of this market. As the demand for sustainable transportation solutions continues to rise, the Bike-sharing market in Albania is expected to further expand in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bike-sharing services.

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.