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Bike-sharing - Morocco

Morocco

Morocco is expected to witness a significant growth in the Bike-sharing market revenue, which is projected to reach US$10.31m in 2024.
The revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 5.51%, resulting in a projected market volume of US$13.48m by 2029.
By 2029, the number of users in the Bike-sharing market is expected to amount to 2.15m users.
The user penetration rate is projected to be 4.4% in 2024 and is anticipated to increase to 5.4% by 2029.
The average revenue per user (ARPU) is expected to amount to US$6.10.
Furthermore, in the Bike-sharing market, 91% of the total revenue will be generated through online sales by 2029.
It is noteworthy that in terms of global comparison, China is projected to generate the most revenue in the Bike-sharing market with US$5,515m in 2024.
Moroccan bike-sharing companies are growing in popularity, particularly in major cities like Casablanca and Marrakech, as more people seek environmentally-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.

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Analyst Opinion

The Bike-sharing market in Morocco has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local circumstances.

Customer preferences: In Morocco, there is a growing preference for eco-friendly and cost-effective transportation options. Bike-sharing provides a convenient and sustainable solution for short-distance commuting, especially in urban areas where traffic congestion is a major issue. Additionally, the younger generation, who are more conscious about the environment, are embracing bike-sharing as a way to reduce their carbon footprint.

Trends in the market: One of the key trends in the Bike-sharing market in Morocco is the expansion of bike-sharing services to more cities and regions. Initially, bike-sharing was limited to major cities like Casablanca and Marrakech, but now it is being introduced in smaller cities as well. This expansion is driven by the increasing demand for bike-sharing and the willingness of local authorities to invest in sustainable transportation options. Another trend is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies are partnering with public transportation providers to create a seamless and integrated transportation network. This allows customers to easily switch between bikes and other modes of transportation, such as buses or trains, for longer journeys.

Local special circumstances: Morocco has a favorable climate for bike-sharing, with mild winters and long periods of sunshine throughout the year. This makes biking a viable transportation option for most of the year, unlike some other countries where extreme weather conditions can limit the usability of bike-sharing services. Additionally, the government of Morocco has been supportive of sustainable transportation initiatives, including bike-sharing. They have implemented policies and regulations to promote the use of bicycles and have provided financial incentives for companies to invest in bike-sharing infrastructure. This support from the government has created a conducive environment for the growth of the Bike-sharing market in Morocco.

Underlying macroeconomic factors: The growing Bike-sharing market in Morocco can also be attributed to the country's overall economic development and urbanization. As the economy grows, more people are moving to urban areas in search of better job opportunities. This has led to increased demand for transportation options, and bike-sharing has emerged as a viable alternative to traditional modes of transportation. Additionally, the rising middle class in Morocco has more disposable income, allowing them to afford bike-sharing services. In conclusion, the Bike-sharing market in Morocco is experiencing growth due to changing customer preferences, such as a preference for eco-friendly transportation, and favorable local circumstances, including a supportive government and a favorable climate. The expansion of bike-sharing services to more cities and the integration with other modes of transportation are key trends in the market. The underlying macroeconomic factors, such as economic development and urbanization, also contribute to the growth of the Bike-sharing market in Morocco.

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.