E-Scooter-sharing - Singapore | Statista Market Forecast

Singapore is expected to witness a significant growth in the E-Scooter-sharing market.
According to market projections, the revenue in this market is expected to reach US$2.20m by 2024 and show an annual growth rate (CAGR 2024-2029) of 4.77%.
This growth rate will result in a projected market volume of US$2.78m by 2029.
The number of users in the E-Scooter-sharing market is expected to increase to 125.40k users by 2029.
It is projected that user penetration will be 1.8% in 2024 and 2.0% by 2029.
The average revenue per user (ARPU) is estimated to be US$20.55.
By 2029, a significant portion of the total revenue in the E-Scooter-sharing market, amounting to 100%, is expected to be generated through online sales.
In comparison to other countries, United States is projected to generate the most revenue in this market, with a total revenue of US$730m in 2024.
Singapore's government support and strict regulations have led to a competitive and thriving E-Scooter-sharing market.

Definition:

The E-Scooter-sharing market comprises e-scooter-sharing services that provide short-term rentals of electric motorized scooters (stand-up scooters). In e-scooter-sharing, scooters are generally owned by an e-scooter-sharing provider and can be reserved independently by customers around the clock. Customers are required to open an account with the e-scooter-sharing provider and can then reserve the vehicles, typically with a smartphone app. Providers normally offer dockless services, so it is possible to find e-scooters everywhere within the provider’s business zone, e.g., on sidewalks, and to leave the scooters anywhere in accordance with traffic regulations. 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 E-Scooter-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 e-scooter-sharing services
Services such as Lime, Tier, Bird, and Movo

Private e-scooter usage
Multi-day e-scooter rentals
Peer-to-peer e-scooter reservations
Bike sharing and other forms of micro-mobility

The E-Scooter-sharing market in Singapore has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Singapore have shown a strong preference for convenience and eco-friendly transportation options. E-Scooter-sharing services provide a convenient and efficient way for people to travel short distances, especially in urban areas with heavy traffic. The ease of accessing and using e-scooters through mobile applications has also made them popular among tech-savvy customers.

Trends in the market: One of the key trends in the E-Scooter-sharing market in Singapore is the increasing number of service providers. Several local and international companies have entered the market, offering a wide range of options for customers to choose from. This competition has led to innovation in terms of pricing models, features, and customer experience. Another trend is the integration of E-Scooter-sharing services with other modes of transportation. Some companies have partnered with public transportation authorities to offer seamless connectivity for commuters. This integration allows customers to easily switch between different modes of transportation, enhancing the overall travel experience.

Local special circumstances: Singapore's compact size and excellent infrastructure make it an ideal market for E-Scooter-sharing services. The city-state has a well-connected network of roads and dedicated cycling paths, which provide a safe and convenient environment for e-scooter riders. Additionally, the government's support for sustainable transportation initiatives has created a favorable regulatory environment for E-Scooter-sharing companies.

Underlying macroeconomic factors: The growth of the E-Scooter-sharing market in Singapore is also driven by underlying macroeconomic factors. The city-state has a high population density and a large number of tech-savvy individuals who are open to adopting new technologies. Singapore's strong economy and high disposable income levels also contribute to the demand for convenient and efficient transportation options. In conclusion, the E-Scooter-sharing market in Singapore is developing rapidly due to customer preferences for convenience and eco-friendly transportation, the increasing number of service providers, the integration with other modes of transportation, the city-state's favorable infrastructure and regulatory environment, and underlying macroeconomic factors. This market is expected to continue growing as more customers embrace the benefits of E-Scooter-sharing services.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of e-scooter-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.

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