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Bike-sharing - Mozambique

Mozambique

Mozambique is expected to witness promising growth in the Bike-sharing market in the coming years.
By 2024, the projected revenue is estimated to reach US$1.77m.
Furthermore, the revenue is likely to grow annually at a rate of 11.72% (CAGR 2024-2029), eventually resulting in a market volume of US$3.08m by 2029.
The number of users in Mozambique's Bike-sharing market is expected to grow to 0.92m users by 2029, with user penetration projected to be 1.6% in 2024 and 2.3% by 2029.
The average revenue per user (ARPU) is expected to amount to US$3.14.
Mozambique's Bike-sharing market is expected to generate 81% of total revenue through online sales by 2029.
It is noteworthy that China is anticipated to generate the most revenue in the Bike-sharing market globally, with an estimated revenue of US$5,515m in 2024.
Bike-sharing is still a nascent market in Mozambique, with limited infrastructure and low public awareness.

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 Mozambique is experiencing significant growth and development.

Customer preferences: Customers in Mozambique are increasingly opting for bike-sharing services due to several reasons. Firstly, bike-sharing provides a cost-effective and convenient mode of transportation, especially for short-distance travel within cities. Additionally, the growing awareness about environmental sustainability has led to a shift towards greener transportation options, making bike-sharing an attractive choice for many. Furthermore, the health benefits associated with cycling have also contributed to the popularity of bike-sharing services among health-conscious individuals.

Trends in the market: The Bike-sharing market in Mozambique is witnessing several key trends. Firstly, there has been a rise in the number of bike-sharing companies entering the market, leading to increased competition. This has resulted in improved services, such as better bike quality, enhanced app features, and expanded coverage areas. Secondly, bike-sharing services are increasingly being integrated with other forms of transportation, such as public transit systems, to provide a seamless travel experience for customers. This integration allows users to easily switch between bikes and other modes of transport, further enhancing the convenience of bike-sharing. Lastly, there is a growing trend of bike-sharing services partnering with local businesses and organizations to offer discounts and incentives to users, encouraging more people to utilize bike-sharing as a mode of transportation.

Local special circumstances: Mozambique's unique geography and urban landscape contribute to the development of the Bike-sharing market. The country has a large population concentrated in urban areas, where traffic congestion is a major issue. Bike-sharing offers a practical solution for tackling this problem by providing an alternative mode of transportation that is not affected by traffic jams. Additionally, Mozambique has a warm climate, which makes cycling a comfortable and enjoyable experience for users. The presence of bike-friendly infrastructure, such as dedicated bike lanes and parking facilities, further supports the growth of the Bike-sharing market in the country.

Underlying macroeconomic factors: Several macroeconomic factors are driving the development of the Bike-sharing market in Mozambique. The country is experiencing rapid urbanization, with more people moving to cities in search of better economic opportunities. This urbanization trend has increased the demand for efficient and affordable transportation options, leading to the rise of bike-sharing services. Additionally, the government's focus on sustainable development and reducing carbon emissions aligns with the goals of the bike-sharing industry, making it a favorable environment for growth. Furthermore, Mozambique has a young and tech-savvy population, which is more inclined to adopt innovative transportation solutions like bike-sharing. The increasing availability of smartphones and internet connectivity has also facilitated the growth of bike-sharing services by enabling users to easily access and utilize the platforms.

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.