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Bike-sharing - Southern Asia

Southern Asia

By 2024, the projected revenue for the Bike-sharing market in Southern Asia is US$1.53bn.
It is expected to grow annually at a rate of 9.87%, resulting in a market volume of US$2.45bn by 2029.
As for the number of users, it is expected to reach 326.80m users by 2029, with a projected user penetration of 12.0% in 2024 and 16.2% by 2029.
The average revenue per user (ARPU) is expected to be US$6.65.
By 2029, 92% of the total revenue in the Bike-sharing market will be generated through online sales.
When compared globally, the majority of the revenue is expected to be generated in China, reaching US$5,515m in 2024.
Bike-sharing in Southern Asia, particularly in India, is rapidly growing due to increasing urbanization and the need 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.

Market

Region

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Analyst Opinion

The Bike-sharing market in Southern Asia is experiencing significant growth and development.

Customer preferences: Customers in Southern Asia are increasingly opting for bike-sharing services due to their convenience, affordability, and environmental benefits. The region has a large population, rapid urbanization, and increasing traffic congestion, making bike-sharing an attractive alternative to traditional modes of transportation. Additionally, the younger generation in Southern Asia is more health-conscious and environmentally aware, leading to a greater demand for sustainable transportation options like bike-sharing.

Trends in the market: One of the key trends in the Bike-sharing market in Southern Asia is the adoption of dockless bike-sharing systems. This allows users to easily locate and unlock bikes using a mobile app, without the need for designated docking stations. Dockless systems have gained popularity due to their flexibility and convenience, allowing users to pick up and drop off bikes anywhere within a designated service area. This trend has been driven by advancements in GPS technology and the widespread use of smartphones in the region. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies in Southern Asia have partnered with public transportation systems, allowing users to seamlessly switch between bikes and buses or trains. This integration provides commuters with a more efficient and convenient way to travel, reducing the reliance on private vehicles and alleviating traffic congestion.

Local special circumstances: Southern Asia has a unique set of circumstances that contribute to the growth of the Bike-sharing market. The region has a large population, particularly in urban areas, which creates a high demand for transportation solutions. Additionally, Southern Asia has a favorable climate for cycling, with mild winters and a relatively flat terrain in many cities. These factors make bike-sharing a practical and attractive option for daily commuting and short-distance travel.

Underlying macroeconomic factors: The economic development and rising disposable income in Southern Asia have also contributed to the growth of the Bike-sharing market. As more people in the region enter the middle class, they have greater spending power and are willing to invest in convenient and sustainable transportation options. Furthermore, government initiatives and policies promoting sustainable mobility and reducing air pollution have created a supportive environment for the bike-sharing industry to thrive. In conclusion, the Bike-sharing market in Southern Asia is experiencing significant growth and development due to customer preferences for convenience and sustainability, the adoption of dockless systems, integration with other modes of transportation, local special circumstances such as population density and favorable climate, and underlying macroeconomic factors such as economic development and government support. This trend is expected to continue as more people in the region recognize the benefits of bike-sharing and as the industry continues to innovate and expand its services.

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.