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Bike-sharing - Ukraine

Ukraine

The Bike-sharing market in Ukraine is estimated to witness a revenue of US$0.37m by 2024.
Furthermore, an annual growth rate of 9.41% is expected from 2024 to 2029, resulting in a market volume projection of US$0.58m by 2029.
The number of users in this market is expected to reach 84.00k users by 2029, with a projected user penetration of 0.2% in 2024 and 0.2% by 2029.
The average revenue per user (ARPU) is forecasted to be US$5.74.
Online sales are expected to generate 81% of the total revenue in the Bike-sharing market by 2029.
It is noteworthy that China is expected to generate the most revenue in this market globally, with a projection of US$5,515m in 2024.
Despite the challenges posed by a lack of government support and infrastructure, bike-sharing is gaining popularity among urban commuters in Ukraine.

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 Ukraine is experiencing significant growth and development in recent years.

Customer preferences: Customers in Ukraine are increasingly opting for bike-sharing services due to the numerous benefits they offer. Bike-sharing provides a convenient and affordable mode of transportation, especially for short-distance travel within cities. It allows users to avoid traffic congestion, reduce travel time, and enjoy the health benefits of cycling. Additionally, bike-sharing services often have user-friendly mobile applications that make it easy for customers to locate and rent bikes.

Trends in the market: One of the key trends in the Bike-sharing market in Ukraine is the expansion of bike-sharing networks in major cities. Companies are investing in infrastructure to provide a larger number of bikes and docking stations, making it more convenient for customers to access and return bikes. This expansion is driven by the increasing demand for bike-sharing services and the government's efforts to promote sustainable transportation options. Another trend in the market is the introduction of electric bikes in bike-sharing fleets. Electric bikes offer an alternative to traditional bicycles, allowing users to travel longer distances with less physical effort. This innovation has attracted a new segment of customers who may have been hesitant to use traditional bikes due to physical limitations or the need to travel longer distances.

Local special circumstances: Ukraine is a country with a high population density in urban areas, which contributes to traffic congestion and limited parking spaces. Bike-sharing services provide a solution to these challenges by offering a flexible and efficient mode of transportation. Additionally, the government has implemented initiatives to promote cycling and improve cycling infrastructure, such as dedicated bike lanes and bike-friendly policies. These factors create a favorable environment for the growth of the Bike-sharing market in Ukraine.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Ukraine is also influenced by macroeconomic factors. The country has experienced economic growth in recent years, leading to an increase in disposable income and a higher standard of living. This has resulted in a greater willingness among consumers to spend on convenience and sustainable transportation options. Furthermore, the COVID-19 pandemic has led to a shift in consumer behavior, with more people opting for individual modes of transportation to maintain social distancing. Bike-sharing services have emerged as a popular choice in this context, as they provide a safe and reliable means of travel. In conclusion, the Bike-sharing market in Ukraine is growing rapidly due to customer preferences for convenient and sustainable transportation options. The expansion of bike-sharing networks, the introduction of electric bikes, and the government's support for cycling infrastructure are driving this growth. Additionally, macroeconomic factors such as economic growth and the impact of the COVID-19 pandemic have further accelerated the development of the market.

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.