Shared Mobility - Kuwait

Kuwait

Highlights

Kuwait is expected to witness a significant surge in revenue in the Shared Mobility market, with a projected amount of US$1.56bn by 2024.
The revenue growth rate is estimated to be 2.88% (CAGR 2024-2029), resulting in a market volume of US$1.80bn by 2029.
The largest market in this market in Kuwait is Flights, which is projected to reach a market volume of US$868.70m in 2024.
The number of users in the Public Transportation market is expected to increase to 2.44m users by 2029.
The user penetration rate in the Shared Mobility market is expected to be 87.4% in 2024 and 93.1% by 2029.
The average revenue per user (ARPU) is estimated to be US$411.50.
Online sales are expected to generate 70% of the total revenue in the Shared Mobility market in Kuwait by 2029.
It is noteworthy that in comparison to other countries, China is projected to generate the most revenue (US$365bn in 2024) in the Shared Mobility market.
Kuwait's shared mobility market is experiencing growth, with ride-hailing services like Uber and Careem expanding their operations in the country.

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 Kuwait is experiencing significant growth and evolution in response to changing consumer preferences and local market dynamics.

Customer preferences: Customers in Kuwait are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. This shift in preferences has led to a growing demand for shared mobility services that offer flexible and cost-effective solutions for getting around the city.

Trends in the market: One of the key trends in the Shared Mobility market in Kuwait is the rise of ride-hailing services and car-sharing platforms. These services provide customers with on-demand access to transportation without the hassle of owning a car, aligning with the trend of mobility-as-a-service. Additionally, the market is seeing an increase in electric scooters and bikes as environmentally friendly options for short-distance travel within urban areas.

Local special circumstances: Kuwait's unique geography and urban layout play a significant role in shaping the Shared Mobility market in the country. The relatively small size of the urban centers and the high population density in certain areas create a conducive environment for shared mobility services to thrive. Additionally, the government's focus on sustainable development and reducing traffic congestion further supports the growth of shared mobility options in Kuwait.

Underlying macroeconomic factors: The economic stability and increasing disposable income levels in Kuwait have also contributed to the growth of the Shared Mobility market. As more residents have the financial means to choose convenience and efficiency in their transportation options, shared mobility services become an attractive alternative to traditional car ownership. Moreover, the government's investments in transportation infrastructure and smart city initiatives have paved the way for the expansion of shared mobility services in the country.

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.