Market Insights Mobility Shared Mobility

Bike-sharing - APAC

APAC

Revenue in the Bike-sharing market is projected to reach US$7.50bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.29%, resulting in a projected market volume of US$10.66bn by 2029.
In the Bike-sharing market, the number of users is expected to amount to 1.02bn users by 2029.
User penetration is projected to be 18.1% in 2024 and 23.1% by 2029.
The average revenue per user (ARPU) is expected to amount to US$9.67.
In the Bike-sharing market, 94% of total revenue will be generated through online sales by 2029.
In global comparison, most revenue will be generated in China (US$5,515m in 2024).

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

Region

Region comparison

Currency

Analyst Opinion

The Bike-sharing market in APAC has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Bike-sharing market in APAC have shifted towards more sustainable and eco-friendly modes of transportation. With increasing concerns about pollution and traffic congestion, customers are opting for bike-sharing services as a convenient and environmentally-friendly alternative to traditional modes of transportation. Additionally, the younger generation in APAC has shown a growing preference for bike-sharing as a means of exercise and leisure activity. Trends in the market indicate a strong growth potential for bike-sharing services in APAC. The region has witnessed the rapid expansion of bike-sharing platforms, with new players entering the market and existing companies expanding their operations. This trend is driven by the increasing demand for last-mile connectivity solutions in urban areas, as well as the growing popularity of bike-sharing among tourists and commuters. Furthermore, advancements in technology, such as the integration of GPS and mobile apps, have made it easier for customers to access and use bike-sharing services. Local special circumstances also play a significant role in the development of the Bike-sharing market in APAC. For instance, densely populated cities with limited parking spaces and high traffic congestion, such as Tokyo and Singapore, have seen a surge in bike-sharing services as a solution to these challenges. Additionally, the presence of a large number of tourists in popular destinations like Bali and Bangkok has created a thriving market for bike-sharing services catering to their needs. Underlying macroeconomic factors further contribute to the growth of the Bike-sharing market in APAC. The region's rapid urbanization and economic development have led to increased disposable income and a higher standard of living, enabling more people to afford bike-sharing services. Moreover, government initiatives promoting sustainable transportation and reducing carbon emissions have created a favorable regulatory environment for bike-sharing companies to operate. In conclusion, the Bike-sharing market in APAC is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As more customers opt for sustainable and convenient transportation solutions, the market is expected to continue expanding 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.