Bike-sharing - Worldwide

  • Worldwide
  • The Bike-sharing market is poised to achieve a staggering revenue of US$9.06bn in 2024 worldwide.
  • This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 6.92%, leading to a projected market volume of US$12.66bn by 2029.
  • The number of users in this market is expected to reach 1.13bn users by 2029, with a user penetration of 11.2% in 2024 and an increase to 14.0% by 2029.
  • The average revenue per user (ARPU) is also projected to reach US$10.45.
  • By 2029, 94% of the total revenue in this market will be generated through online sales.
  • Notably, China will continue to dominate this market with the highest revenue being generated there, with a projected revenue of US$5,515m in 2024.
  • Bike-sharing has gained immense popularity worldwide, with countries like China, France, and the USA leading the way in adoption and innovation.

Key regions: South America, Malaysia, India, Indonesia, Saudi Arabia

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Bike-sharing market has seen significant growth and development in recent years, with countries worldwide embracing this eco-friendly and convenient mode of transportation.

Customer preferences:
Customers are increasingly opting for bike-sharing services due to their affordability, convenience, and environmental benefits. Bike-sharing allows users to easily access bicycles for short trips, reducing the need for private vehicles and promoting sustainable transportation. Additionally, the flexibility of bike-sharing systems, such as the ability to pick up and drop off bikes at various locations, appeals to customers who value convenience and time-saving options.

Trends in the market:
One notable trend in the Bike-sharing market is the rapid expansion of dockless bike-sharing systems. These systems utilize GPS technology to allow users to locate and unlock bikes using their smartphones, eliminating the need for fixed docking stations. This trend has gained popularity in several countries, as it offers greater flexibility and convenience for users. However, it also presents challenges in terms of bike distribution and parking, as bikes can be left anywhere within a designated service area. Another trend in the market is the integration of electric bikes (e-bikes) into bike-sharing systems. E-bikes provide an additional boost of power, making cycling easier and more accessible to a wider range of users. This trend is particularly prevalent in countries with hilly terrain or longer commuting distances, where e-bikes offer a more efficient mode of transportation.

Local special circumstances:
In countries with high population density and limited space for private vehicles, bike-sharing has become a popular transportation option. Major cities worldwide have implemented bike-sharing programs to alleviate traffic congestion and reduce air pollution. Additionally, bike-sharing is often seen as a solution to the last-mile problem, providing a convenient and cost-effective mode of transportation for short distances between public transportation stops and final destinations.

Underlying macroeconomic factors:
The growth of the Bike-sharing market can be attributed to several underlying macroeconomic factors. Firstly, increasing urbanization and population growth have led to greater demand for efficient and sustainable transportation options. Bike-sharing provides a solution to this demand by offering a flexible and environmentally friendly mode of transportation. Furthermore, government initiatives and policies promoting sustainable transportation have played a significant role in the development of the Bike-sharing market. Many countries have implemented bike-friendly infrastructure, such as dedicated bike lanes and parking facilities, to encourage cycling as a viable transportation option. Additionally, subsidies and incentives for bike-sharing companies have been introduced to support their operations and encourage their growth. In conclusion, the Bike-sharing market worldwide has experienced significant growth and development, driven by customer preferences for affordable and eco-friendly transportation options. The trends of dockless bike-sharing systems and the integration of e-bikes have further enhanced the market's appeal. Local special circumstances, such as population density and limited space, have also contributed to the popularity of bike-sharing in major cities. Lastly, underlying macroeconomic factors, including urbanization and government initiatives, have supported the growth of the Bike-sharing market.

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.

Overview

  • Revenue
  • Key Players
  • Sales Channels
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)