Shared Mobility - El Salvador

El Salvador

The Shared Mobility market in El Salvador is expected to witness a significant rise in revenue, with an anticipated projection of US$354.70m in 2024.
The market is expected to experience an annual growth rate (CAGR 2024-2029) of 3.46%, which will result in a projected market volume of US$420.40m by 2029.
Among all the Shared Mobility markets, Flights is expected to be the largest with a projected market volume of US$155.10m in 2024.
By 2029, it is expected that the number of users in the Public Transportation market will increase to 3.87m users.
The user penetration rate is 95.0% in 2024, and it is expected to reach 95.0% by 2029.
Furthermore, the average revenue per user (ARPU) is estimated to be US$57.10.
Regarding revenue generation, it is expected that 51% of the total revenue will be generated through online sales by 2029.
It is interesting to note that in global comparison, China is projected to generate the most revenue, with an estimated revenue of US$365bn in 2024.
In El Salvador, the shared mobility market is growing slowly due to limited infrastructure and low consumer awareness.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility 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 above-mentioned markets. 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. Additional definitions for each market can be found within the respective market pages.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in El Salvador is witnessing a significant growth trajectory driven by changing customer preferences and unique local circumstances.

Customer preferences: Customers in El Salvador are increasingly opting for shared mobility services due to the convenience, cost-effectiveness, and environmental benefits they offer. With a growing awareness of sustainability, many individuals are choosing shared mobility options over traditional modes of transportation. Moreover, the flexibility and ease of access provided by shared mobility services align well with the preferences of modern consumers who seek on-demand solutions.

Trends in the market: One of the prominent trends in the Shared Mobility market in El Salvador is the rise of ride-hailing services and bike-sharing platforms. These services are gaining popularity among urban dwellers looking for efficient ways to commute within the city. Additionally, carpooling and shared taxi services are becoming more prevalent as people look for ways to reduce transportation costs and alleviate traffic congestion. The market is also witnessing the integration of technology to enhance user experience, with mobile applications playing a crucial role in connecting customers with shared mobility providers.

Local special circumstances: El Salvador's unique geographical and infrastructural challenges have contributed to the growth of the Shared Mobility market. The country's urban centers face traffic congestion and limited parking spaces, making shared mobility services an attractive alternative for residents. Additionally, the presence of a young and tech-savvy population in El Salvador has accelerated the adoption of shared mobility solutions, driving further market expansion.

Underlying macroeconomic factors: The economic landscape of El Salvador, characterized by a growing middle class and increasing urbanization, plays a significant role in shaping the Shared Mobility market. As disposable incomes rise, more individuals have the financial capacity to use shared mobility services regularly. Furthermore, the government's initiatives to improve transportation infrastructure and promote sustainable mobility practices have created a conducive environment for the growth of the shared mobility sector in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rentals, ride-hailing, taxi, car-sharing, bike-sharing, e-scooter-sharing, moped-sharing, trains, buses, public transportation, and flights.

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.