Shared Mobility - Mongolia

Mongolia

In Mongolia, the Shared Mobility market is expected to experience significant growth in the coming years.
By 2024, revenue in this market is projected to reach US$109.50m.
Moreover, the market is expected to show an annual growth rate (CAGR 2024-2029) of 5.76%, resulting in a projected market volume of US$144.90m by 2029.
The largest market within Shared Mobility market is Public Transportation, which is projected to reach a market volume of US$53.05m in 2024.
By 2029, the number of users in the Public Transportation market is expected to amount to 2,579.00k users.
The user penetration rate in 2024 is 95.0%, which is expected to increase to 95.0% by 2029.
The average revenue per user (ARPU) in the Shared Mobility market in Mongolia is expected to amount to US$32.72.
Furthermore, it is projected that by 2029, 41% of the total revenue in this market will be generated through online sales.
It is worth noting that in global comparison, China is expected to generate the most revenue in the Shared Mobility market, with US$365bn in 2024.
Shared mobility services are still in their infancy in Mongolia, with limited availability and low adoption rates.

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 Mongolia is experiencing a significant growth trajectory driven by various factors.

Customer preferences: Customers in Mongolia are increasingly valuing convenience and cost-effectiveness when it comes to transportation options. Shared Mobility services offer a flexible and affordable alternative to traditional modes of transportation, catering to the evolving preferences of tech-savvy consumers.

Trends in the market: One notable trend in the Shared Mobility market in Mongolia is the rise of ride-hailing services, which have gained popularity due to their ease of use and quick access to transportation. Additionally, the introduction of bike-sharing and scooter-sharing services has provided commuters with environmentally friendly options for short-distance travel in urban areas.

Local special circumstances: Mongolia's unique geographical landscape, characterized by vast open spaces and nomadic traditions, has influenced the development of Shared Mobility services in the country. The need for efficient transportation solutions in both urban and rural areas has led to the adaptation of shared mobility models to suit the diverse needs of the population.

Underlying macroeconomic factors: The growing urban population in Mongolia, coupled with increasing disposable income levels, has created a favorable environment for the expansion of Shared Mobility services. Additionally, government initiatives aimed at improving transportation infrastructure and reducing traffic congestion have further fueled the demand for shared mobility solutions 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.