Bike-sharing - Egypt | Statista Market Forecast

Egypt's Bike-sharing market is projected to reach a revenue of US$16.17m by 2024, with an estimated annual growth rate of 16.62% (CAGR 2024-2029), resulting in a market volume of US$34.87m by 2029.
By 2029, the number of users is expected to reach 3.92m users with a user penetration rate of 3.2%, compared to 2.1% in 2024.
The average revenue per user (ARPU) is expected to be US$6.79.
Online sales are projected to contribute 94% of the total revenue in the Bike-sharing market by 2029.
In comparison to other countries, China is expected to generate the most revenue, with US$6bn in 2024.
Egypt's bike-sharing market is gaining momentum with the introduction of new players and government initiatives promoting eco-friendly transportation.

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 has gained significant popularity in Egypt in recent years, with a growing number of people opting for this convenient and eco-friendly mode of transportation.

Customer preferences: Customers in Egypt are increasingly drawn to bike-sharing services due to several factors. Firstly, the high traffic congestion in major cities like Cairo and Alexandria has made it difficult for people to commute using traditional modes of transportation. Bike-sharing offers a faster and more efficient way to navigate through crowded streets, especially during peak hours. Additionally, the affordability of bike-sharing services compared to other means of transportation is another key factor driving customer preferences.

Trends in the market: The Bike-sharing market in Egypt has witnessed a steady growth in recent years. This can be attributed to the increasing awareness about the environmental benefits of using bicycles as a mode of transportation. As more people become conscious of their carbon footprint and seek sustainable alternatives, the demand for bike-sharing services has surged. Moreover, the government's efforts to promote cycling as a means of transportation have also contributed to the growth of the market. The introduction of bike lanes and the implementation of bike-sharing programs in various cities have made it easier for people to access and use these services.

Local special circumstances: Egypt's unique geographical and cultural characteristics have played a significant role in shaping the Bike-sharing market. The country's warm climate and flat terrain make it ideal for cycling, attracting both locals and tourists. Additionally, the rich cultural heritage of Egypt, with its historical sites and monuments, has made bike-sharing a popular option for tourists who want to explore the cities at their own pace. The availability of bike-sharing services near popular tourist destinations has further fueled the growth of the market.

Underlying macroeconomic factors: The growing Bike-sharing market in Egypt can also be attributed to underlying macroeconomic factors. The country's young population, with a significant proportion of tech-savvy millennials, has embraced the convenience of bike-sharing apps and platforms. The increasing smartphone penetration and internet connectivity have made it easier for people to access and use these services. Furthermore, the rise of the sharing economy globally has influenced consumer behavior in Egypt, with people becoming more open to sharing resources and opting for cost-effective alternatives. In conclusion, the Bike-sharing market in Egypt is experiencing significant growth due to customer preferences for a faster and more affordable mode of transportation, as well as the increasing awareness of environmental sustainability. The unique geographical and cultural characteristics of Egypt, along with underlying macroeconomic factors, have further contributed to the development of the market. As the demand for eco-friendly transportation options continues to rise, the Bike-sharing market in Egypt is expected to witness further expansion 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.