Shared Mobility - Lithuania

Lithuania

Highlights

The Shared Mobility market in Lithuania is set to experience a substantial increase in revenue, with projections indicating a climb to US$1.08bn by 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 2.42%, resulting in a market volume projection of US$1.21bn by 2029.
Flights represent the largest market in Lithuania's Shared Mobility market industry, with a projected market volume of US$420.10m by 2024.
In the Public Transportation market, the number of users is expected to reach 1.81m users by 2029.
The user penetration rate of 95.0% in 2024 is expected to amount to 95.0% by 2029.
The average revenue per user (ARPU) is expected to be US$401.70.
By 2029, online sales are projected to generate 58% of the total revenue in the Shared Mobility market.
In comparison to other countries, China is expected to generate the most revenue in the Shared Mobility market sector, with a projection of US$365bn in 2024.
As Lithuania continues to develop its urban infrastructure, the shared mobility market is seeing a rise in demand for electric scooters and bikes.

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 Lithuania is experiencing significant growth and transformation in recent years.

Customer preferences: Customers in Lithuania are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. Shared mobility services such as ride-hailing, car-sharing, and bike-sharing are gaining popularity due to their flexibility and cost-effectiveness. Consumers are also showing a growing interest in eco-friendly modes of transportation, driving the demand for electric scooters and bicycles in urban areas.

Trends in the market: One of the prominent trends in the Shared Mobility market in Lithuania is the integration of various services into multi-modal platforms. This allows users to access different modes of transportation through a single app, providing a seamless and efficient travel experience. Additionally, there is a growing trend towards partnerships between shared mobility providers and public transportation agencies to offer integrated solutions that cover first and last-mile connectivity.

Local special circumstances: Lithuania's relatively small size and well-developed urban infrastructure make it an ideal environment for shared mobility services to thrive. The country's tech-savvy population and high smartphone penetration rate further facilitate the adoption of digital mobility solutions. Moreover, the government's initiatives to promote sustainable transportation and reduce traffic congestion are creating a favorable regulatory environment for shared mobility operators to expand their services.

Underlying macroeconomic factors: The growing trend of urbanization in Lithuania, particularly in major cities like Vilnius and Kaunas, is driving the demand for alternative transportation options beyond traditional car ownership. Additionally, the increasing focus on environmental sustainability and the shift towards greener practices are influencing consumer behavior towards more eco-conscious modes of transportation. The overall economic stability and rising disposable incomes in Lithuania are also contributing to the growth of the Shared Mobility market, as consumers seek cost-effective and efficient ways to meet their transportation needs.

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.