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Bike-sharing - EMEA

EMEA

Revenue in the Bike-sharing market is projected to reach US$0.71bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.66%, resulting in a projected market volume of US$0.98bn by 2029.
In the Bike-sharing market, the number of users is expected to amount to 67.19m users by 2029.
User penetration is projected to be 2.1% in 2024 and 2.6% by 2029.
The average revenue per user (ARPU) is expected to amount to US$13.65.
In the Bike-sharing market, 94% of total revenue will be generated through online sales by 2029.
In global comparison, most revenue will be generated in China (US$5,515m in 2024).

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 EMEA has been experiencing significant growth in recent years, driven by changing customer preferences, emerging market trends, and local special circumstances.

Customer preferences: Customers in the EMEA region have shown a growing preference for sustainable and eco-friendly transportation options. Bike-sharing provides an affordable and convenient solution for short-distance travel, reducing the reliance on cars and public transportation. Additionally, the rise of health and wellness trends has also contributed to the popularity of bike-sharing, as it promotes physical activity and a healthier lifestyle.

Trends in the market: One of the key trends in the Bike-sharing market in EMEA is the expansion of dockless bike-sharing systems. These systems allow users to rent and park bikes anywhere within a designated area, without the need for docking stations. This flexibility has made bike-sharing more accessible and convenient for users, leading to increased adoption rates. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many cities in the EMEA region have implemented bike-sharing as part of a larger mobility ecosystem, which includes public transportation, ride-sharing, and walking. This integration allows users to easily switch between different modes of transportation, providing a seamless and efficient travel experience.

Local special circumstances: The Bike-sharing market in EMEA is influenced by a variety of local special circumstances. For example, the high population density in cities like London and Paris has created a demand for alternative transportation options that can alleviate traffic congestion. Bike-sharing provides a practical solution for short-distance travel in these densely populated areas. Additionally, the presence of tourist attractions and cultural landmarks in many EMEA cities has also contributed to the growth of bike-sharing. Tourists often prefer to explore cities on bikes, allowing them to experience the local culture and attractions at their own pace. Bike-sharing services cater to this demand, offering tourists a convenient and cost-effective way to explore their surroundings.

Underlying macroeconomic factors: The growth of the Bike-sharing market in EMEA can also be attributed to underlying macroeconomic factors. The increasing urbanization and population growth in the region have created a need for efficient and sustainable transportation solutions. Bike-sharing addresses these needs by providing a flexible and environmentally friendly mode of transportation. Furthermore, government initiatives and policies aimed at reducing carbon emissions and promoting sustainable transportation have also played a significant role in the development of the Bike-sharing market in EMEA. Many cities have implemented bike-sharing programs as part of their efforts to create greener and more livable urban environments. In conclusion, the Bike-sharing market in EMEA is experiencing growth due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The demand for sustainable and convenient transportation options, integration with other modes of transportation, high population density in cities, presence of tourist attractions, and government initiatives all contribute to the development and expansion of the Bike-sharing market in the region.

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.