Bike-sharing - Peru | Statista Market Forecast

In Peru, the Bike-sharing market is expected to generate a revenue of US$11.17m by 2024.
It is projected to grow annually at a rate of 2.39% between 2024 and 2029, resulting in a market volume of US$12.57m by 2029.
The number of users is expected to rise to 2.09m users in the same year.
User penetration in the market is estimated to be 5.5% in 2024 and is expected to reach 5.7% by 2029.
The average revenue per user (ARPU) is expected to be US$5.88.
Online sales will account for 95% of the total revenue generated in the Bike-sharing market by 2029.
It is noteworthy that in terms of global comparison, China is expected to generate the highest revenue of US$6bn in 2024.
Bike-sharing programs in Peru are gaining popularity due to the country's growing demand for sustainable transportation options.

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 Peru is experiencing significant growth and development.

Customer preferences: Peruvian customers are increasingly opting for bike-sharing services due to their convenience and affordability. Bike-sharing allows individuals to easily navigate through congested urban areas, providing a faster mode of transportation compared to traditional options such as cars or public transport. Additionally, bike-sharing promotes a healthier and more sustainable lifestyle, which is becoming increasingly important to Peruvian consumers.

Trends in the market: One of the key trends in the Peruvian Bike-sharing market is the expansion of bike-sharing services in major cities. Companies are investing in infrastructure and technology to establish bike-sharing networks, making it more accessible for customers to rent bikes. This trend is driven by the growing demand for alternative transportation options and the desire to reduce traffic congestion and pollution in urban areas. Another trend in the market is the integration of bike-sharing services with mobile applications. Customers can now easily locate and unlock bikes through their smartphones, making the process more efficient and user-friendly. This technological advancement has greatly contributed to the popularity of bike-sharing services in Peru.

Local special circumstances: Peru is known for its diverse geography, which includes both urban and rural areas. While bike-sharing services are more prevalent in urban centers, they are also gaining traction in smaller towns and tourist destinations. This is particularly true in areas with high tourist footfall, where bike-sharing provides a convenient and eco-friendly mode of transportation for visitors.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Peru is also influenced by macroeconomic factors. The country's economy has been steadily growing, leading to an increase in disposable income and urbanization. As more people move to cities, the demand for efficient and sustainable transportation options rises. Additionally, the government has been implementing policies to promote cycling as a means of transportation, further supporting the development of the Bike-sharing market. In conclusion, the Bike-sharing market in Peru is experiencing significant growth and development due to customer preferences for convenience and sustainability. The expansion of bike-sharing services in major cities, integration with mobile applications, and the inclusion of bike-sharing in tourist destinations are key trends in the market. The underlying macroeconomic factors, such as economic growth and government policies, are also contributing to the market's development.

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.