Bike-sharing - Argentina | Statista Market Forecast

Argentina is projected to generate a revenue of US$64.41m in the Bike-sharing market by 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.79%, resulting in a projected market volume of US$93.71m by 2029.
In Argentina's Bike-sharing market, the number of users is expected to reach 3.84m users by 2029.
The user penetration rate is projected to increase from 6.6% in 2024 to 8.1% by 2029.
The average revenue per user (ARPU) is expected to be US$21.12.
Moreover, 94% of the total revenue in the Bike-sharing market in Argentina will be generated through online sales by 2029.
It is noteworthy that in global comparison, China is expected to generate the most revenue in the Bike-sharing market, with a projected revenue of US$6bn in 2024.
Argentina's bike-sharing market is growing rapidly, with new companies entering the market and expanding to more cities.

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.

Free-floating bike-sharing reservations
Stationary bike-sharing reservations
Services such as nextbik, ofo, Mobike, and LimeBike

Peer-to-peer bike-sharing reservations
Free bike-sharing services, such as Aarhus City Bikes
Multi-day bike rental offers
Discounts for customers with long-term subscriptions and other types of discounts
Electric scooter service providers

The Bike-sharing market in Argentina is experiencing significant growth and development.

Customer preferences: Customers in Argentina are increasingly opting for bike-sharing services due to their convenience, affordability, and environmental friendliness. Bike-sharing allows users to easily access bicycles for short trips, reducing the need for private car ownership and promoting sustainable transportation options. Additionally, the flexibility of bike-sharing services appeals to customers who prefer not to be tied down to owning a bike.

Trends in the market: One of the key trends in the Bike-sharing market in Argentina is the expansion of bike-sharing services in urban areas. As more cities in Argentina implement bike-friendly infrastructure and promote cycling as a mode of transportation, the demand for bike-sharing services has grown. This trend is driven by the desire for improved mobility options and the need to reduce traffic congestion and air pollution in urban areas. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies in Argentina are partnering with public transportation systems, such as buses and trains, to provide a seamless and efficient travel experience for customers. This integration allows users to easily combine bike-sharing with other modes of transportation, making it a more attractive option for daily commuting or exploring the city.

Local special circumstances: Argentina's unique geography and climate contribute to the growth of the Bike-sharing market. The country has a diverse landscape, ranging from bustling cities to scenic coastal areas and mountainous regions. This variety of environments makes biking an appealing option for both urban and rural residents, as well as tourists. Additionally, Argentina's mild climate allows for year-round bike-sharing usage, further driving the demand for these services.

Underlying macroeconomic factors: The Bike-sharing market in Argentina is also influenced by macroeconomic factors such as rising urbanization, increasing disposable income, and government support for sustainable transportation initiatives. As more people move to urban areas, the demand for alternative transportation options like bike-sharing increases. Additionally, the growth of the middle class in Argentina has led to higher disposable income, allowing more people to afford bike-sharing services. Lastly, the government's focus on sustainable transportation and reducing carbon emissions has resulted in policies and incentives that promote the use of bike-sharing. In conclusion, the Bike-sharing market in Argentina is growing due to customer preferences for convenience and sustainability, as well as the expansion of bike-friendly infrastructure and government support. The integration of bike-sharing with other modes of transportation and the country's diverse geography and climate further contribute to the market's development. With these trends and special circumstances, the Bike-sharing market in Argentina is poised for continued growth in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.