Bike-sharing - Uruguay | Statista Market Forecast

The Bike-sharing market in Uruguay is projected to generate a revenue of US$2.56m in 2024.
It is expected to grow annually at a rate of 5.75% (CAGR 2024-2029), resulting in a market volume of US$3.39m by 2029.
By 2029, the number of users is expected to reach 177.50k users, with a user penetration of 5.2% compared to 4.6% in 2024.
The projected average revenue per user (ARPU) is US$16.19.
In 2029, 87% of the total revenue will be generated through online sales.
It is worth noting that in global comparison, China is projected to generate the highest revenue of US$6bn in 2024.
Uruguay's bike-sharing market is growing rapidly, with new companies and government initiatives aiming to increase accessibility and sustainability in urban transportation.

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.

Free-floating bike-sharing reservations
Stationary bike-sharing reservations
Services such as nextbik, ofo, Mobike, and LimeBike

Peer-to-peer bike-sharing reservations
Free bike-sharing services, such as Aarhus City Bikes
Multi-day bike rental offers
Discounts for customers with long-term subscriptions and other types of discounts
Electric scooter service providers

Bike-sharing has become increasingly popular in Uruguay, with a growing number of people opting for this convenient and eco-friendly mode of transportation.

Customer preferences: Uruguayans are embracing bike-sharing as a means of commuting, leisure, and exercise. The convenience of accessing a bike at any time and the affordability of bike-sharing services are key factors driving customer preferences. Additionally, the health and environmental benefits associated with biking are also influencing customer choices.

Trends in the market: The Bike-sharing market in Uruguay is witnessing significant growth due to several trends. Firstly, the government has been actively promoting sustainable transportation options, including bike-sharing, as part of its efforts to reduce carbon emissions and improve air quality. This has led to the expansion of bike-sharing services in major cities across the country. Secondly, the increasing urbanization and congestion in cities have made bike-sharing an attractive alternative to traditional modes of transportation. With bikes readily available in designated stations, commuters can avoid traffic jams and reach their destinations faster. Moreover, the rise of the sharing economy and the growing popularity of mobile applications have made it easier for customers to access bike-sharing services. Many bike-sharing companies now offer user-friendly mobile apps that allow users to locate and unlock bikes with just a few taps on their smartphones.

Local special circumstances: Uruguay's relatively small size and flat terrain make it ideal for biking. The country's well-maintained bike lanes and cycling infrastructure further enhance the appeal of bike-sharing. Additionally, Uruguayans have a strong cultural affinity for outdoor activities and a healthy lifestyle, making bike-sharing a natural fit for the local population.

Underlying macroeconomic factors: Uruguay's stable economy and increasing disposable income have also contributed to the growth of the Bike-sharing market. As people have more financial resources, they are more likely to invest in alternative transportation options like bike-sharing. In conclusion, the Bike-sharing market in Uruguay is experiencing significant growth due to customer preferences for convenience, affordability, and environmental sustainability. The government's support for sustainable transportation, the rise of the sharing economy, and Uruguay's favorable geography and cultural context have all contributed to the expansion of bike-sharing services. With these trends and underlying macroeconomic factors in place, the Bike-sharing market in Uruguay is expected to continue thriving in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.