Shared Mobility - Guatemala

Guatemala

Highlights

The Shared Mobility market in Guatemala is expected to experience significant growth in the coming years.
According to market projections, revenue in this market is expected to reach US$872.20m by 2024, with an annual growth rate of 3.32% projected for the period between 2024 and 2029.
This growth is expected to result in a projected market volume of US$1.03bn by 2029.
Flights are projected to be the largest of the Shared Mobility markets in Guatemala, with a market volume of US$350.40m anticipated by 2024.
Additionally, the number of users of Public Transportation is expected to increase to 8.64m users by 2029.
The user penetration rate is expected to reach 95.0% by 2029, up from 95.0% in 2024.
The average revenue per user (ARPU) is expected to be US$44.29 in Guatemala.
Furthermore, it is projected that by 2029, 56% of the total revenue in the Shared Mobility market will be generated through online sales.
In a global comparison, it is expected that China will generate the most revenue in this market, with an anticipated revenue of US$365bn in 2024.
Shared mobility options like carpooling and bike-sharing are gaining popularity in Guatemala City due to heavy traffic and limited public transportation.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Shared Mobility market in Guatemala is experiencing significant growth and evolution, driven by various factors unique to the region.

Customer preferences: Customers in Guatemala are increasingly opting for shared mobility services due to the convenience and cost-effectiveness they offer. With the rise of urbanization and traffic congestion in major cities, more people are turning to shared mobility options as a practical solution for their daily transportation needs.

Trends in the market: One of the prominent trends in the Shared Mobility market in Guatemala is the growing popularity of ride-hailing services. Companies offering ride-hailing platforms have seen a surge in demand as consumers seek efficient and reliable transportation services. Additionally, the emergence of electric scooters and bike-sharing services is also gaining traction in urban areas, providing environmentally friendly alternatives for short-distance travel.

Local special circumstances: Guatemala's unique geographical and infrastructural challenges play a significant role in shaping the Shared Mobility market. The diverse terrain and road conditions in the country create a demand for versatile transportation options that can navigate different landscapes. Moreover, the cultural emphasis on community and sharing resources aligns well with the concept of shared mobility, making it a natural fit for the Guatemalan market.

Underlying macroeconomic factors: The economic landscape in Guatemala, characterized by a growing middle class and increasing disposable income, contributes to the expansion of the Shared Mobility market. As more people have the financial means to access transportation services beyond traditional car ownership, the demand for shared mobility solutions continues to rise. Additionally, government initiatives to improve transportation infrastructure and reduce traffic congestion further support the growth of the market.

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.