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Bike-sharing - New Zealand

New Zealand

New Zealand is projected to generate a revenue of US$5.22m in the Bike-sharing market by 2024.
The revenue is expected to witness an annual growth rate (CAGR 2024-2029) of 4.35%, resulting in a projected market volume of US$6.46m by 2029.
Moreover, the number of users in the Bike-sharing market is expected to reach 219.30k users by 2029, with a user penetration of 3.5% in 2024 and [userPenetrationMarketCurrentYear] by 2029.
Furthermore, the average revenue per user (ARPU) is expected to be US$28.54.
By 2029, 97% of the total revenue in the Bike-sharing market will be generated through online sales.
Notably, in the global comparison, China is expected to generate the highest revenue of US$5,515m in 2024.
New Zealand's bike-sharing market is growing rapidly, with companies like Onzo and Nextbike expanding their services to meet the high demand for sustainable 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 New Zealand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in New Zealand have shown a growing interest in sustainable transportation options, and bike-sharing provides a convenient and eco-friendly solution. The ease of access and flexibility offered by bike-sharing services have also contributed to their popularity. Additionally, the rise of health and wellness trends has led to an increased demand for active modes of transportation, such as biking.

Trends in the market: One of the key trends in the Bike-sharing market in New Zealand is the expansion of dockless bike-sharing services. These services allow users to locate and unlock bikes using smartphone apps, eliminating the need for physical docking stations. This trend has gained traction due to its convenience and flexibility, as users can pick up and drop off bikes at any location within the service area. Another trend is the integration of electric bikes into bike-sharing fleets. Electric bikes provide an alternative for customers who may find traditional biking challenging or prefer a faster mode of transportation.

Local special circumstances: New Zealand's geography and urban layout make it well-suited for bike-sharing services. The country has a relatively compact urban population, with many cities having well-developed cycling infrastructure. This makes it easier for bike-sharing companies to establish and expand their operations. Furthermore, New Zealand has a strong cycling culture, with many residents already using bikes as a mode of transportation or for recreational purposes. This existing culture and infrastructure provide a favorable environment for the growth of the Bike-sharing market.

Underlying macroeconomic factors: The New Zealand government has been actively promoting sustainable transportation initiatives, including cycling, as part of its efforts to reduce carbon emissions and improve public health. This support from the government has created a conducive environment for bike-sharing companies to operate and expand. Additionally, the country's strong tourism industry has contributed to the growth of the Bike-sharing market. Tourists often seek convenient and affordable transportation options, and bike-sharing provides a viable solution for exploring cities and tourist attractions. In conclusion, the Bike-sharing market in New Zealand is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for sustainable and active transportation options, the convenience of dockless services, and the integration of electric bikes are driving the expansion of the market. New Zealand's geography, cycling culture, and government support further contribute to the favorable conditions for bike-sharing companies. As these trends continue, the Bike-sharing market in New Zealand is expected to thrive in the coming years.

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.