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Bike-sharing - Southern Europe

Southern Europe

Southern Europe is projected to generate a revenue of US$171.20m in the Bike-sharing market by 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 3.58%, resulting in a projected market volume of US$204.10m by 2029.
By 2029, the number of users in the Bike-sharing market is estimated to reach 14.35m users.
The user penetration is projected to be 5.1% in 2024 and 6.1% by 2029.
The average revenue per user (ARPU) is expected to be US$14.10.
In the Bike-sharing market, 98% of the total revenue will be generated through online sales by 2029.
According to global comparison, China is predicted to generate the most revenue in the Bike-sharing market, with US$5,515m in 2024.
Bike-sharing in Southern Europe is gaining popularity due to the region's warm climate and initiatives by cities such as Seville, Spain to prioritize 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

Region comparison

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Analyst Opinion

Bike-sharing has become an increasingly popular mode of transportation in Southern Europe in recent years. This trend can be attributed to several factors, including customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: One of the main reasons for the growth of the Bike-sharing market in Southern Europe is the changing preferences of customers. In today's fast-paced world, people are looking for convenient and environmentally-friendly transportation options. Bike-sharing provides a solution to both of these needs. Customers appreciate the flexibility and ease of use that bike-sharing offers, allowing them to quickly and conveniently travel short distances without the hassle of parking or traffic congestion.

Trends in the market: The Bike-sharing market in Southern Europe is experiencing several key trends. Firstly, there has been a significant increase in the number of bike-sharing companies operating in the region. This competition has led to improvements in the quality and availability of bikes, as well as more affordable pricing options for customers. Additionally, bike-sharing services are expanding beyond major cities and into smaller towns and rural areas, catering to a wider range of customers. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies have partnered with public transportation systems, allowing customers to easily combine biking with bus or train travel. This integration has made bike-sharing even more convenient and accessible to a larger number of people.

Local special circumstances: The unique characteristics of Southern European cities and towns have also contributed to the growth of the Bike-sharing market. Many cities in the region have narrow streets and limited parking options, making traditional car ownership less practical. Additionally, Southern Europe is known for its pleasant climate, with mild winters and long, sunny summers. This weather is ideal for outdoor activities like biking, making bike-sharing a popular choice for residents and tourists alike.

Underlying macroeconomic factors: The Bike-sharing market in Southern Europe is also influenced by underlying macroeconomic factors. The region has seen a steady increase in urbanization, with more people moving to cities for work and leisure. This urbanization trend has led to increased demand for alternative transportation options, as well as a greater focus on sustainability and reducing carbon emissions. Furthermore, Southern Europe has experienced economic growth in recent years, with rising disposable incomes and increased tourism. This economic prosperity has allowed more people to afford bike-sharing services and has created a larger customer base for bike-sharing companies. In conclusion, the Bike-sharing market in Southern Europe is developing rapidly due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. As more people seek convenient and environmentally-friendly transportation options, bike-sharing has emerged as a popular choice. With the expansion of bike-sharing services, integration with other modes of transportation, and favorable local conditions, the market is expected to continue its growth trajectory 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.