Bike-sharing - Lebanon | Statista Market Forecast

Lebanon is expected to reach a revenue of US$4.45m in the Bike-sharing market by 2024, with an annual growth rate (CAGR 2024-2029) of 6.70%, projecting a market volume of US$6.15m by 2029.
It is expected that the number of users will reach 420.80k users by 2029, with a user penetration of 7.4% in 2024 and 8.8% by 2029.
The average revenue per user (ARPU) is projected to be US$11.57.
Furthermore, 76% of the total revenue in the Bike-sharing market is expected to come from online sales by 2029.
It is worth mentioning that China is projected to generate the most revenue in the Bike-sharing market globally, with US$6bn in 2024.
Despite the lack of government support and infrastructure, bike-sharing companies like Bike 4 All and Beirut by Bike are gaining popularity among eco-conscious citizens in Lebanon.

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

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

Customer preferences: Customers in Lebanon have shown a strong preference for bike-sharing services due to their convenience and affordability. With increasing traffic congestion and limited parking options in urban areas, many people are turning to bike-sharing as a more efficient and sustainable mode of transportation. Additionally, the growing awareness of the environmental benefits of cycling has also contributed to the popularity of bike-sharing services among environmentally conscious customers.

Trends in the market: One of the key trends in the Bike-sharing market in Lebanon is the expansion of bike-sharing services to new cities and regions. Initially, bike-sharing services were primarily available in major cities such as Beirut. However, due to the increasing demand and positive customer response, bike-sharing companies have started expanding their operations to other cities and regions in Lebanon. This trend is driven by the need to cater to a larger customer base and provide convenient transportation options in areas that lack efficient public transportation systems. Another trend in the market is the integration of technology into bike-sharing services. Many bike-sharing companies in Lebanon are adopting mobile applications and smart locks to enhance the user experience. These technological advancements allow customers to easily locate and unlock bikes using their smartphones, making the process more convenient and user-friendly. Furthermore, the integration of GPS tracking systems and real-time data analytics has enabled bike-sharing companies to optimize their operations and improve the overall efficiency of their services.

Local special circumstances: Lebanon's unique geographical landscape and mild climate make it an ideal location for bike-sharing services. The country is known for its scenic coastal roads and mountainous regions, which attract both locals and tourists. Bike-sharing services provide an excellent opportunity for people to explore these natural attractions while enjoying a healthy and eco-friendly mode of transportation. Additionally, the relatively small size of Lebanon makes it easier for bike-sharing companies to establish and manage their operations across different cities and regions.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Lebanon is also influenced by several macroeconomic factors. The country has witnessed a steady increase in urbanization and population growth, leading to higher demand for efficient transportation solutions. Additionally, the government's focus on sustainability and environmental conservation has encouraged the adoption of bike-sharing services as a means to reduce traffic congestion and carbon emissions. Furthermore, the increasing number of tourists visiting Lebanon has also contributed to the growth of the Bike-sharing market, as visitors seek convenient and affordable transportation options during their stay. In conclusion, the Bike-sharing market in Lebanon is experiencing significant growth due to customer preferences for convenience and affordability, as well as the expansion of services to new cities and the integration of technology. The country's unique geographical landscape, mild climate, and government initiatives towards sustainability have also played a crucial role in driving the growth of the market. With the continued development of bike-sharing services, Lebanon is expected to witness further expansion and innovation 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.