Moped-sharing - Lithuania | Statista Market Forecast

The Moped-sharing market in Lithuania is projected to experience a significant increase in revenue, reaching US$3.43m by the year 2024.
This growth is expected to continue at an annual rate of 5.79% (CAGR 2024-2029), resulting in a projected market volume of US$4.54m by 2029.
Moreover, the number of users in the Moped-sharing market is expected to reach 33.93k users by 2029.
The user penetration rate, which measures the percentage of the population using Moped-sharing market services, is projected to be 1.1% in 2024 and is anticipated to increase to 1.3% by 2029.
The average revenue per user (ARPU) is expected to amount to US$114.90.
The Moped-sharing market is an online-only market.
In a global comparison, India is expected to generate the highest revenue in the Moped-sharing market, reaching US$700m in 2024.
This underscores the significant market potential India and its role as a major player in the industry.
Lithuania is experiencing a rise in moped-sharing services, as its compact size and well-developed infrastructure make it an ideal market for convenient and efficient short-distance transportation.

Definition:

The Moped-sharing market covers the growing industry of shared moped services, where individuals can rent mopeds for short periods of time. Moped-sharing services typically operate through mobile applications, allowing users to locate nearby mopeds, unlock them using a digital interface, and pay for their usage. To use the service, customers are required to open an account with the moped-sharing provider. Providers normally offer dockless services, so it is possible to find mopeds everywhere within the provider’s business zone and to leave the mopeds anywhere in accordance with traffic regulations. Moped-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.

Additional Information:

The main performance indicators of the Moped-sharing 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 mentioned market. 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.

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.

Free-floating Moped-sharing services
App-based services such as Cooltra, felyx, Revel, and Yulu

Private moped usage
Multi-day moped rentals
Peer-to-peer moped reservations
E-Scooter-sharing and other forms of micro-mobility

The Moped-sharing market in Lithuania has been experiencing significant growth in recent years.

Customer preferences: One of the key reasons for the growth of the moped-sharing market in Lithuania is the increasing preference for convenient and eco-friendly transportation options. With the rising concerns about pollution and traffic congestion, more people are looking for alternative modes of transportation that are both efficient and environmentally friendly. Moped-sharing services offer a convenient solution for short-distance travel, allowing customers to easily navigate through crowded urban areas and reach their destinations quickly.

Trends in the market: The moped-sharing market in Lithuania has witnessed a surge in demand due to the increasing popularity of ride-sharing platforms. These platforms have made it easier for customers to access moped-sharing services, providing a seamless booking and payment process. Additionally, the affordability of moped-sharing services compared to traditional taxi or ride-hailing services has also contributed to the growth of the market. Customers are attracted to the cost-effective nature of moped-sharing, especially for short trips within the city.

Local special circumstances: Lithuania's compact size and well-developed infrastructure make it an ideal market for moped-sharing services. The country has a high population density in its urban areas, which creates a demand for efficient and flexible transportation options. Furthermore, Lithuania has a large population of tech-savvy individuals who are open to embracing new mobility solutions. The combination of these factors has created a favorable environment for the growth of the moped-sharing market.

Underlying macroeconomic factors: The steady economic growth and increasing disposable income in Lithuania have also played a role in the development of the moped-sharing market. As people have more disposable income, they are more willing to spend on convenient and time-saving transportation options. Additionally, the growing trend of urbanization in Lithuania has led to an increase in the number of people living in cities, further driving the demand for efficient transportation solutions like moped-sharing. In conclusion, the moped-sharing market in Lithuania is experiencing significant growth due to customer preferences for convenient and eco-friendly transportation options, the increasing popularity of ride-sharing platforms, the country's favorable infrastructure, and the underlying macroeconomic factors such as economic growth and urbanization. As the market continues to evolve, it is expected to attract more players and offer innovative solutions to meet the evolving needs of customers.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of moped-sharing services.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.