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Bike-sharing - Eastern Europe

Eastern Europe

The Bike-sharing market in Eastern Europe is expected to generate a revenue of US$41.71m by 2024.
Furthermore, the industry is projected to grow annually at a rate of 5.13% from 2024 to 2029, resulting in a market volume of US$53.56m by 2029.
Additionally, the number of users in the Bike-sharing market is anticipated to reach 4.55m users by 2029, with user penetration projected to increase from 1.7% in 2024 to 1.9% by 2029.
The anticipated average revenue per user (ARPU) is US$10.41.
Moreover, it is expected that 96% of the total revenue in the Bike-sharing market will be generated through online sales by 2029.
Finally, it is noteworthy that China is projected to generate the most revenue in the Bike-sharing market globally, with US$5,515m in 2024.
Bike-sharing in Eastern Europe is gaining momentum, with Warsaw leading the way in innovative solutions for urban transportation.

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.

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Analyst Opinion

The Bike-sharing market in Eastern Europe has been experiencing significant growth in recent years.

Customer preferences: One of the key customer preferences in the Bike-sharing market in Eastern Europe is the convenience and affordability of bike-sharing services. With increasing urbanization and traffic congestion in many cities in the region, customers are looking for alternative modes of transportation that can help them navigate through crowded streets quickly and at a lower cost. Bike-sharing services provide a flexible and cost-effective solution for short-distance travel, allowing customers to easily rent a bike and return it at their destination.

Trends in the market: One of the major trends in the Bike-sharing market in Eastern Europe is the adoption of dockless bike-sharing systems. Unlike traditional docked systems, dockless bike-sharing allows users to locate and unlock bikes using a mobile app, without the need for designated docking stations. This trend has gained popularity due to its convenience and flexibility, as users can pick up and drop off bikes anywhere within a designated service area. Dockless bike-sharing has also been facilitated by advancements in GPS technology and the widespread use of smartphones in the region. Another trend in the Bike-sharing market in Eastern Europe is the integration of electric bikes (e-bikes) into bike-sharing fleets. E-bikes provide an additional level of convenience and ease of use, as they require less physical effort to ride and can cover longer distances. The growing popularity of e-bikes can be attributed to their ability to attract a wider range of customers, including those who may not be physically fit or capable of riding traditional bicycles. E-bikes also align with the increasing focus on sustainability and eco-friendly transportation options in the region.

Local special circumstances: Eastern Europe has a unique set of circumstances that has contributed to the growth of the Bike-sharing market. Many cities in the region have limited parking spaces and congested roads, making bikes a more practical and efficient mode of transportation for short trips. Additionally, the relatively flat terrain in some Eastern European cities makes cycling an attractive option for commuting and leisure activities.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Eastern Europe can also be attributed to favorable macroeconomic factors. The region has experienced steady economic growth in recent years, leading to an increase in disposable income and a higher standard of living. This has allowed more people to afford bike-sharing services and view them as a viable alternative to traditional transportation options. Furthermore, government initiatives promoting sustainable transportation and reducing carbon emissions have also played a role in the development of the Bike-sharing market in Eastern Europe. These initiatives have included the implementation of bike-friendly infrastructure, such as dedicated cycling lanes and bike parking facilities, which have made it easier and safer for people to use bike-sharing services.

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.