Market Insights Mobility Shared Mobility

Bike-sharing - Sweden

Sweden

Sweden's Bike-sharing market is expected to achieve a revenue of US$11.21m by 2024.
The revenue is predicted to grow annually at a rate of 3.57% from 2024 to 2029, resulting in a market volume of US$13.36m by 2029.
As for the number of users, it is expected to reach 0.57m users by 2029, with a user penetration rate of 4.8% in 2024 and 5.2% by 2029.
The projected average revenue per user (ARPU) is US$22.08.
By 2029, 95% of the total revenue in the Bike-sharing market is expected to come from online sales.
In a global comparison, China is projected to generate the highest revenue of US$5,515m in 2024.
Bike-sharing in Sweden is gaining popularity due to the country's strong cycling culture and well-maintained bike lanes.

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.

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Analyst Opinion

The Bike-sharing market in Sweden has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Bike-sharing market in Sweden have shifted towards more sustainable and convenient transportation options. With increasing concerns about environmental sustainability, customers are actively seeking alternatives to traditional modes of transportation that are carbon-intensive. Bike-sharing provides a greener alternative, allowing users to reduce their carbon footprint while also enjoying the health benefits of cycling. Additionally, customers are increasingly valuing convenience and flexibility in their transportation choices. Bike-sharing offers a convenient and accessible solution, allowing users to pick up and drop off bikes at various locations throughout the city, without the need for ownership or maintenance. Trends in the Bike-sharing market in Sweden reflect the global shift towards shared mobility solutions. The rise of smartphone technology has made it easier than ever for customers to access and use bike-sharing services. Mobile applications allow users to locate and unlock bikes with ease, streamlining the user experience. Furthermore, the emergence of dockless bike-sharing systems has revolutionized the market, eliminating the need for designated docking stations and providing greater flexibility for users. These trends have contributed to the growth of the Bike-sharing market in Sweden, making it more accessible and convenient for customers to use. Local special circumstances in Sweden have also played a role in the development of the Bike-sharing market. Sweden has a strong cycling culture, with well-developed cycling infrastructure and a high level of bike ownership. This existing infrastructure and culture have created a favorable environment for the adoption of bike-sharing services. Additionally, the government of Sweden has implemented policies and initiatives to promote sustainable transportation, including subsidies for electric bikes and the development of cycling networks. These efforts have further encouraged the use of bike-sharing services, contributing to the growth of the market. Underlying macroeconomic factors have also influenced the development of the Bike-sharing market in Sweden. The country has a strong economy and high levels of disposable income, allowing customers to afford the cost of bike-sharing services. Additionally, Sweden has a high level of urbanization, with a significant proportion of the population living in cities. This urban population provides a large customer base for bike-sharing companies, as urban dwellers are more likely to utilize alternative transportation options. Overall, the Bike-sharing market in Sweden has experienced growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The market is expected to continue to expand as more customers recognize the benefits of bike-sharing and as technology and infrastructure continue to improve.

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.