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Bike-sharing - Iran

Iran

In Iran, the Bike-sharing market is expected to see a significant increase in revenue in the coming years.
According to projections, revenue in this market will reach US$37.73m in 2024.
This is expected to result in an annual growth rate of 26.62% between 2024 and 2029, with the market volume projected to reach US$122.80m by 2029.
The number of users in this market is also expected to rise, reaching a total of 9.91m users by 2029.
Additionally, user penetration is projected to increase from 6.3% in 2024 to 10.7% by 2029.
Looking at revenue per user, the average revenue is expected to be US$6.64.
As for sales channels, it is projected that 88% of total revenue in the Bike-sharing market will be generated through online sales by 2029.
In terms of global comparison, China is expected to generate the most revenue in this market, with a projected revenue of US$5,515m in 2024.
Despite challenges such as lack of infrastructure and government support, the bike-sharing market in Iran is driven by a growing demand for affordable and eco-friendly transportation options.

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.

Market

Region

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Analyst Opinion

The Bike-sharing market in Iran is experiencing significant growth and development. Customer preferences are shifting towards more sustainable and cost-effective transportation options, leading to an increased demand for bike-sharing services. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market. Customer preferences in Iran are being influenced by several factors. Firstly, there is a growing awareness of the environmental impact of traditional transportation methods, such as cars and motorcycles. Many individuals are now opting for greener alternatives, such as bikes, to reduce their carbon footprint. Secondly, the rising cost of fuel and public transportation fares is making bike-sharing a more attractive option for commuters. It offers a convenient and affordable mode of transportation, especially for short distances. Lastly, the health and wellness trend is gaining momentum in Iran, with more people recognizing the benefits of regular exercise. Bike-sharing provides an opportunity for individuals to incorporate physical activity into their daily routines. The trends in the Bike-sharing market in Iran are characterized by rapid expansion and innovation. Numerous bike-sharing companies have emerged in recent years, offering different models and services to cater to the diverse needs of customers. Traditional docked bike-sharing systems are being complemented by dockless options, which provide greater flexibility and convenience. This trend is driven by advancements in technology, such as GPS tracking and mobile applications, which enable users to easily locate and unlock bikes. Furthermore, electric bikes are gaining popularity, as they offer a more effortless and efficient riding experience. Local special circumstances in Iran are contributing to the growth of the Bike-sharing market. The country has a young and tech-savvy population, which is receptive to new transportation solutions. Moreover, urban areas in Iran are experiencing rapid population growth and increasing traffic congestion. Bike-sharing provides a practical solution to alleviate these issues by reducing the number of cars on the road and promoting a more efficient use of urban space. Additionally, the government of Iran is actively promoting sustainable transportation initiatives, including bike-sharing, as part of its efforts to improve air quality and reduce greenhouse gas emissions. Underlying macroeconomic factors are also driving the development of the Bike-sharing market in Iran. The country has been facing economic challenges in recent years, including high inflation and unemployment rates. This has led to a greater emphasis on cost-saving measures and the search for affordable transportation alternatives. Bike-sharing offers a cost-effective option for individuals who cannot afford to own a car or rely on public transportation. Furthermore, the bike-sharing industry has the potential to create job opportunities and stimulate economic growth, as it requires maintenance and operational staff. In conclusion, the Bike-sharing market in Iran is experiencing significant growth and development due to shifting customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for sustainable and cost-effective transportation options, combined with advancements in technology and government support, is driving the expansion of the market. The bike-sharing industry in Iran is expected to continue evolving and innovating to meet the changing needs of customers and contribute to a more sustainable and efficient transportation system.

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.