Bike-sharing - Bahrain | Statista Market Forecast

Bahrain is forecasted to witness a revenue of US$711.10k in the Bike-sharing market by 2024.
The revenue is anticipated to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 4.52%, leading to a market volume projection of US$886.80k by 2029.
By 2029, the number of users in the Bahrain Bike-sharing market is expected to reach 59.78k users.
The projected user penetration is set to be 3.3% in 2024 and 3.8% by 2029.
The Average Revenue Per User (ARPU) is estimated to be US$14.58.
By 2029, 100% of the total revenue in Bahrain's Bike-sharing market will be generated through online sales.
When compared globally, China is expected to generate the most revenue, reaching US$6bn in 2024.
Bahrain's bike-sharing market is gaining traction among tourists and locals, promoting a sustainable and convenient mode of shared mobility in the country.

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

Bike-sharing services in Bahrain have been gaining popularity among residents and tourists alike, contributing to the development of the market in the country.

Customer preferences: Customers in Bahrain are increasingly looking for convenient and eco-friendly transportation options, which has led to a growing demand for bike-sharing services. The ease of access to bikes, coupled with the flexibility they offer in navigating urban areas, has made them a preferred choice for short-distance travel.

Trends in the market: One noticeable trend in the Bahraini bike-sharing market is the integration of technology to enhance user experience. Companies are investing in app-based platforms for easy bike rentals and payments, as well as GPS tracking systems for efficient bike locating. Additionally, the introduction of electric bikes has added a new dimension to the market, catering to a wider range of customers.

Local special circumstances: Bahrain's compact size and well-maintained infrastructure make it conducive to bike-sharing services. The flat terrain and pleasant weather for a large part of the year further encourage people to opt for cycling as a mode of transportation. Moreover, the government's initiatives to promote sustainable mobility have created a favorable environment for bike-sharing companies to thrive.

Underlying macroeconomic factors: The steady economic growth in Bahrain has increased disposable incomes, allowing more people to afford alternative transportation options like bike-sharing. Furthermore, the government's focus on reducing traffic congestion and promoting a healthy lifestyle aligns with the objectives of bike-sharing services, driving further growth in the market.

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.