Bike-sharing - Croatia

  • Croatia
  • Croatia is expected to witness a surge in revenue within the Bike-sharing market with a projected amount of US$2.60m by 2024.
  • The revenue is anticipated to increase at an annual growth rate of 5.70%, resulting in a projected market volume of US$3.43m by 2029.
  • As for the number of users in the Bike-sharing market, it is expected to reach 251.70k users by 2029.
  • In terms of user penetration, it is projected to be 5.4% in 2024 and 6.5% by 2029.
  • The average revenue per user (ARPU) is expected to be US$12.06.
  • It is noteworthy that 100% of the total revenue will be generated through online sales by 2029.
  • It is also worth mentioning that in global comparison, China is expected to generate the most revenue with a projected amount of US$5,515m by 2024.
  • Croatia's bike-sharing market is growing rapidly, with an increasing number of cities offering rental services.

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

 
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Analyst Opinion

The Bike-sharing market in Croatia is experiencing significant growth and development in recent years.

Customer preferences:
One of the main reasons for the growth of the Bike-sharing market in Croatia is the increasing demand for sustainable and eco-friendly transportation options. Customers are becoming more conscious of the environmental impact of traditional modes of transportation and are actively seeking alternatives. Bike-sharing offers a convenient and affordable solution, allowing people to travel within cities while reducing their carbon footprint. Additionally, the younger generation, in particular, is embracing the bike-sharing trend as a way to stay active and fit.

Trends in the market:
The Bike-sharing market in Croatia is witnessing several key trends. Firstly, there is a growing number of bike-sharing operators entering the market, offering different models and services. This competition is driving innovation and improvements in bike-sharing technology, such as the introduction of electric bikes and mobile apps for easy booking and payment. Secondly, bike-sharing services are expanding beyond major cities and tourist destinations, reaching smaller towns and suburban areas. This expansion is fueled by the increasing popularity of bike tourism in Croatia, with tourists seeking to explore the country's natural beauty on two wheels. Lastly, bike-sharing is also being integrated with other modes of transportation, such as public transit systems, to provide seamless and multi-modal journeys for commuters and tourists.

Local special circumstances:
Croatia's unique geography and climate contribute to the development of the Bike-sharing market. With its stunning coastline and picturesque cities, Croatia attracts a large number of tourists every year. Bike-sharing is seen as an ideal way for tourists to explore the country's attractions, offering them a flexible and independent mode of transportation. Furthermore, Croatia has a strong cycling culture, with many locals using bicycles for daily commuting and recreational purposes. This cultural preference for cycling creates a favorable environment for the growth of the Bike-sharing market.

Underlying macroeconomic factors:
The Bike-sharing market in Croatia is also influenced by macroeconomic factors. The country's improving economic conditions and rising disposable incomes have led to increased spending on leisure activities, including bike-sharing. Additionally, government initiatives to promote sustainable transportation and reduce traffic congestion have played a role in driving the adoption of bike-sharing. These initiatives include the development of cycling infrastructure, such as bike lanes and parking facilities, and the implementation of policies that support bike-sharing operators. In conclusion, the Bike-sharing market in Croatia is experiencing growth and development due to customer preferences for sustainable transportation, the emergence of new trends in the market, local special circumstances, and underlying macroeconomic factors. As the demand for eco-friendly transportation options continues to rise, the Bike-sharing market in Croatia is expected to further expand and evolve 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.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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