Market Insights Mobility Shared Mobility

Bike-sharing - Europe

Europe

In Europe, the Bike-sharing market is anticipated to witness a significant rise in revenue, with an expected revenue of US$0.53bn by 2024.
Moreover, the market is estimated to expand at an annual growth rate (CAGR 2024-2029) of 4.17%, which will result in a predicted market volume of US$0.65bn by 2029.
By 2029, the number of users in this market is expected to reach 32.84m users.
The user penetration rate, projected to be 3.4% in 2024, is expected to increase to 3.9% by 2029.
The Bike-sharing market's average revenue per user (ARPU) is expected to amount to US$18.72.
Furthermore, it is predicted that 97% of the total revenue will be generated through online sales by 2029.
Chinese market leads the global competition with the highest revenue in the Bike-sharing market, amounting to US$5,515m in 2024.
In Germany, bike-sharing services have seen a surge in demand due to increased environmental awareness and urban traffic congestion.

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 Europe has been experiencing significant growth in recent years, driven by changing customer preferences and favorable market trends.

Customer preferences: One of the main reasons for the growth of the Bike-sharing market in Europe is the increasing preference for sustainable and eco-friendly transportation options. Customers are becoming more conscious about the environmental impact of their commuting choices and are opting for greener alternatives. Bike-sharing provides a convenient and affordable solution for short-distance travel, allowing customers to reduce their carbon footprint while also enjoying the health benefits of cycling.

Trends in the market: The Bike-sharing market in Europe is witnessing several key trends that are contributing to its growth. Firstly, there is a growing emphasis on urban mobility solutions, with city governments and transportation authorities actively promoting and investing in bike-sharing programs. This has led to the expansion of bike-sharing networks across major cities in Europe, making it easier for customers to access bikes and use them for their daily commute. Another trend in the market is the adoption of technology-driven solutions. Bike-sharing companies are leveraging advanced mobile applications and GPS tracking systems to enhance the user experience and improve operational efficiency. Customers can easily locate and unlock bikes using their smartphones, and companies can optimize bike distribution and maintenance based on real-time data.

Local special circumstances: The growth of the Bike-sharing market in Europe is also influenced by local special circumstances. For example, the dense population and limited parking spaces in many European cities make bike-sharing an attractive alternative to traditional modes of transportation. Additionally, the presence of well-developed cycling infrastructure, such as dedicated bike lanes and bike-friendly policies, further facilitates the adoption of bike-sharing.

Underlying macroeconomic factors: Several macroeconomic factors are contributing to the growth of the Bike-sharing market in Europe. Firstly, the increasing urbanization and population density in major European cities create a strong demand for efficient and sustainable transportation options. Bike-sharing provides a flexible and cost-effective solution for short-distance travel, especially in congested urban areas. Furthermore, the rising awareness and concern about climate change and air pollution have prompted governments and individuals to prioritize sustainable transportation. Bike-sharing aligns with these environmental objectives and is seen as a viable solution to reduce reliance on cars and promote healthier modes of transportation. In conclusion, the Bike-sharing market in Europe is experiencing significant growth due to changing customer preferences, favorable market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for sustainable transportation options, the adoption of technology-driven solutions, and the presence of supportive cycling infrastructure are all contributing to the expansion of bike-sharing networks across Europe.

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.