Bike-sharing - Romania

  • Romania
  • Romania is projected to generate a revenue of US$8.74m in 2024 in the Bike-sharing market.
  • The revenue is anticipated to exhibit an annual growth rate of 6.06% between 2024 and 2029, leading to an estimated market volume of US$11.73m by 2029.
  • By 2029, the number of users in Romania's Bike-sharing market is predicted to reach 0.97m users.
  • The user penetration rate is expected to be 4.2% in 2024 and rise to 5.1% by 2029.
  • The average revenue per user (ARPU) is estimated to be US$10.56.
  • Moreover, 100% of the total revenue generated in the Bike-sharing market in Romania is estimated to be through online sales by 2029.
  • In comparison to the rest of the world, China is expected to generate the highest revenue of US$5,515m in 2024 in the Bike-sharing market.
  • Romania's bike-sharing market is on the rise, with increasing numbers of urban residents choosing this eco-friendly and cost-effective mode of transportation.

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

 
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Analyst Opinion

The Bike-sharing market in Romania is experiencing significant growth and development, driven by various factors such as changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Romania have shifted towards more sustainable and eco-friendly transportation options, leading to an increased demand for bike-sharing services. With growing environmental awareness and a desire to reduce carbon emissions, consumers are actively seeking alternative modes of transportation that are both convenient and environmentally friendly. Bike-sharing provides a cost-effective and efficient solution, allowing individuals to commute short distances without the need for a personal vehicle. Trends in the market indicate a growing number of bike-sharing operators entering the Romanian market, offering a variety of bike models and pricing options. This increased competition has led to improved service quality, with operators focusing on enhancing user experience through the integration of advanced technologies such as mobile applications and GPS tracking. These innovations allow customers to easily locate and rent bikes, making the process more convenient and user-friendly. Local special circumstances also contribute to the development of the Bike-sharing market in Romania. The country has a well-established cycling culture, with a significant number of individuals using bicycles as their primary mode of transportation. This existing infrastructure and culture provide a solid foundation for the growth of bike-sharing services, as it aligns with the preferences and habits of the local population. Underlying macroeconomic factors, such as urbanization and population growth, further drive the growth of the Bike-sharing market in Romania. As cities become more crowded and congested, there is an increasing need for efficient and sustainable transportation solutions. Bike-sharing offers a viable alternative to traditional modes of transportation, allowing individuals to navigate through traffic more easily and reduce travel time. Additionally, the relatively low cost of bike-sharing compared to owning a personal vehicle makes it an attractive option for cost-conscious consumers. Overall, the Bike-sharing market in Romania is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The market is expected to continue expanding as more operators enter the market and innovative technologies are integrated into bike-sharing services. With a strong cycling culture and a growing demand for sustainable transportation options, bike-sharing is set to become an integral part of Romania's urban mobility landscape.

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
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