Shared Mobility - Equatorial Guinea

Equatorial Guinea

Equatorial Guinea is expected to witness tremendous growth in the Shared Mobility market in the coming years.
By 2024, the revenue in this market is projected to reach US$114.40m, and it is expected to grow annually at a rate of 1.76% (CAGR 2024-2029).
This growth is anticipated to result in a projected market volume of US$124.80m by 2029.
Public Transportation is the largest market in the market, and it is expected to have a market volume of US$46.45m by 2024.
The number of Public Transportation users is expected to increase significantly, amounting to 1,308.00k users by 2029.
The user penetration rate is projected to rise from 83.7% in 2024 to 87.5% by 2029.
The average revenue per user (ARPU) is expected to remain steady at US$77.90.
By 2029, 42% of the total revenue in the Shared Mobility market is expected to be generated through online sales.
In a global comparison, China is projected to generate the most revenue, with US$365bn in 2024.
Despite its small market size, Equatorial Guinea has seen an increase in shared mobility options, including motorcycle taxis and carpooling services.

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

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Analyst Opinion

Shared Mobility services in Equatorial Guinea are experiencing a gradual but steady growth, driven by various factors unique to the country.

Customer preferences: The population in Equatorial Guinea is increasingly looking for convenient and cost-effective transportation options, leading to a rise in demand for Shared Mobility services. Customers are drawn to the flexibility and affordability that these services offer, aligning with global trends towards shared and on-demand transportation solutions.

Trends in the market: One of the notable trends in the Shared Mobility market in Equatorial Guinea is the emergence of local startups and entrepreneurs entering the sector to cater to the growing demand. This trend indicates a shift towards more localized and tailored services, reflecting the preferences of the local population. Additionally, partnerships between Shared Mobility providers and existing transportation companies are becoming more common, enhancing the reach and efficiency of these services.

Local special circumstances: Equatorial Guinea's unique geographical and infrastructural challenges play a significant role in shaping the Shared Mobility market. The uneven distribution of population centers and limited public transportation options in certain areas create opportunities for Shared Mobility providers to fill the gaps in the market. Moreover, the country's growing urbanization rate is driving the need for efficient and sustainable transportation solutions, further boosting the demand for Shared Mobility services.

Underlying macroeconomic factors: Economic factors such as rising disposable incomes and increasing urbanization contribute to the growth of the Shared Mobility market in Equatorial Guinea. As more people move to urban areas for employment and educational opportunities, the demand for convenient transportation services rises. Additionally, government initiatives to improve transportation infrastructure and reduce traffic congestion play a role in promoting Shared Mobility as a viable alternative to traditional modes of transport.

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.