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Bike-sharing - United States

United States

The Bike-sharing market in the United States is expected to see a steady increase in revenue, with projections indicating a rise to US$325.30m by 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 2.80%, resulting in a projected market volume of US$373.50m by 2029.
As for the number of users, it is expected to reach 4.83m users by 2029, with user penetration projected to be 1.3% in 2024 and 1.4% by 2029.
The average revenue per user (ARPU) is anticipated to be US$73.59.
In terms of revenue sources, it is projected that 96% of total revenue in the Bike-sharing market will be generated through online sales by 2029.
It is worth noting that in global comparison, China is expected to generate the most revenue, with a projected revenue of US$5,515m in 2024.
Bike-sharing in the United States is gaining popularity as a convenient and eco-friendly way to commute in cities.

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 United States has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in the United States have shown a growing interest in eco-friendly and sustainable transportation options, which has fueled the demand for bike-sharing services. Bike-sharing allows individuals to conveniently and affordably travel short distances, reducing their reliance on cars and contributing to a greener environment. Additionally, the health and wellness trend in the United States has also contributed to the popularity of bike-sharing, as people are increasingly looking for ways to incorporate physical activity into their daily routines.

Trends in the market: One of the key trends in the Bike-sharing market in the United States is the rise of dockless bike-sharing systems. Unlike traditional docked systems, dockless bike-sharing allows users to locate and unlock bikes using a mobile app, providing greater flexibility and convenience. This trend has gained traction in urban areas, where users can easily find and use bikes without the need for designated docking stations. The introduction of electric bikes has also been a significant trend in the market, as it offers users an easier and faster way to commute longer distances.

Local special circumstances: The United States is a vast country with diverse geographic and demographic characteristics, which has influenced the development of the Bike-sharing market. In densely populated urban areas, bike-sharing services have become an attractive alternative to traditional modes of transportation due to traffic congestion and limited parking spaces. On the other hand, in smaller towns and rural areas, bike-sharing may be less popular due to longer distances between destinations and a lack of infrastructure to support bike-sharing programs.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Bike-sharing market in the United States. The increasing urbanization and population density in cities have created a need for efficient and sustainable transportation options. Additionally, rising fuel prices and concerns about air pollution have also encouraged individuals to explore alternative modes of transportation, such as bike-sharing. Furthermore, government initiatives and investments in bike-friendly infrastructure have played a crucial role in promoting the adoption of bike-sharing services. In conclusion, the Bike-sharing market in the United States has experienced significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The rise of dockless bike-sharing systems and the introduction of electric bikes have been key trends in the market. However, the popularity of bike-sharing varies across different regions in the United States, depending on factors such as population density and infrastructure. Overall, the Bike-sharing market in the United States is expected to continue growing as more individuals embrace sustainable transportation options.

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.