Moped-sharing - South Korea | Statista Market Forecast

The Moped-sharing market in South Korea is anticipated to achieve a revenue of US$16.30m in 2024.
With an expected annual growth rate (CAGR 2024-2029) of 4.79%, the market volume is projected to reach US$20.59m by 2029.
By that year, the number of users in the Moped-sharing market is estimated to be 181.60k users.
The user penetration rate is projected to be 0.3% in 2024 and is expected to rise to 0.4% by 2029.
The average revenue per user (ARPU) is anticipated to be US$102.90.
The Moped-sharing market is an online-only market.
In comparison to other countries, India is expected to generate the highest revenue, reaching US$700m in 2024.
South Korea's Moped-sharing market is experiencing a rapid growth fueled by the country's dense urban population and tech-savvy consumers.

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 South Korea has been experiencing significant growth and development in recent years.

Customer preferences: One of the main reasons for the growth of the Moped-sharing market in South Korea is the changing preferences of customers. With the increasing traffic congestion and limited parking spaces in urban areas, many people are looking for alternative transportation options that are convenient and cost-effective. Moped-sharing provides a solution to these problems by offering a flexible and efficient mode of transportation.

Trends in the market: The Moped-sharing market in South Korea is witnessing a surge in popularity due to several trends. Firstly, the rise of the sharing economy has played a crucial role in the growth of this market. People are becoming more comfortable with the idea of sharing resources and are embracing the concept of Moped-sharing as a convenient and affordable transportation option. Secondly, the advancements in technology have enabled the development of user-friendly mobile applications that make it easy for customers to locate and rent Mopeds. These apps provide real-time information on the availability of Mopeds, their locations, and pricing, making it convenient for users to access the service.

Local special circumstances: South Korea's densely populated cities and limited parking spaces have created a unique demand for Moped-sharing services. The compact size and maneuverability of Mopeds make them an ideal mode of transportation for navigating through congested urban areas. Additionally, South Korea's well-developed public transportation system provides convenient access to Moped-sharing stations, making it easier for people to incorporate Mopeds into their daily commute.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the growth of the Moped-sharing market in South Korea. Firstly, the country's strong economic growth has resulted in an increase in disposable income, allowing more people to afford the convenience of Moped-sharing services. Additionally, the government's support for sustainable transportation options and efforts to reduce air pollution have created a favorable environment for the growth of the Moped-sharing market. In conclusion, the Moped-sharing market in South Korea is experiencing significant growth and development due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As more people seek convenient and cost-effective transportation options in urban areas, the demand for Moped-sharing services is expected to continue to rise.

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.