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Bike-sharing - Southeast Asia

Southeast Asia

By 2024, in Southeast Asia is projected to record a revenue of US$326.70m in the Bike-sharing market.
The expected annual growth rate (CAGR 2024-2029) is 5.59%, and this is anticipated to result in a projected market volume of US$428.90m by 2029.
Furthermore, it is estimated that the number of users in Southeast Asia's Bike-sharing market will amount to 33.89m users by 2029.
The user penetration rate is expected to increase from 4.0% in 2024 to 4.7% by 2029.
The average revenue per user (ARPU) is expected to be US$11.66.
Notably, 93% of the total revenue generated in the Bike-sharing market by 2029 will come from online sales.
It is worth mentioning that China is projected to generate the most revenue in the Bike-sharing market globally, with revenue estimated to reach US$5,515m by 2024.
Bike-sharing in Thailand is seeing a rise in popularity, with the government's support and the country's efforts in promoting green transportation.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

Bike-sharing has gained significant popularity in Southeast Asia in recent years, with several countries in the region experiencing a boom in the market. Customer preferences in the Bike-sharing market in Southeast Asia are driven by the region's high population density, traffic congestion, and a growing awareness of environmental sustainability. The convenience and affordability of bike-sharing services make them an attractive option for short-distance travel, especially in urban areas where public transportation may be crowded or inefficient. Additionally, the popularity of bike-sharing is fueled by the region's young and tech-savvy population, who are eager to embrace innovative transportation solutions. Trends in the market vary across different countries in Southeast Asia. In some countries, such as Singapore and Malaysia, dockless bike-sharing services have gained significant traction. These services allow users to locate and unlock bikes using smartphone apps, providing a seamless and convenient experience. This trend is driven by the region's high smartphone penetration rate and the increasing popularity of mobile payment systems. In other countries like Thailand and Indonesia, docked bike-sharing systems are more prevalent. These systems require users to pick up and return bikes at designated docking stations, ensuring better bike availability and reducing the risk of vandalism or theft. This trend is influenced by the local infrastructure and security considerations. Local special circumstances also play a role in shaping the Bike-sharing market in Southeast Asia. In countries with limited public transportation options, such as Cambodia and Vietnam, bike-sharing fills a crucial gap in the transportation ecosystem. It provides an affordable and flexible mode of transportation for both locals and tourists, contributing to the growth of the market. Underlying macroeconomic factors further contribute to the development of the Bike-sharing market in Southeast Asia. The region's rapid urbanization and economic growth have led to increased demand for transportation solutions. Governments and local authorities are also actively promoting sustainable transportation initiatives to reduce traffic congestion and air pollution. This favorable regulatory environment encourages the entry of bike-sharing companies and drives market expansion. In conclusion, the Bike-sharing market in Southeast Asia is experiencing significant growth due to customer preferences for convenience, affordability, and environmental sustainability. The market is characterized by a variety of trends, including the adoption of dockless and docked bike-sharing systems. Local special circumstances and underlying macroeconomic factors also contribute to the development of the market. As the region continues to urbanize and prioritize sustainable transportation, the Bike-sharing market 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.