Shared Mobility - Nepal

Nepal

By 2024, the revenue in Nepal's Shared Mobility market is projected to hit US$324.60m.
According to market projections, the revenue is expected to grow annually at a rate of 6.56% (CAGR 2024-2029), achieving a projected market volume of US$446.00m by 2029.
The largest market within the market is Flights, which is expected to reach a market volume of US$129.90m by 2024.
The number of users in the Public Transportation market is projected to amount to 8.44m users by 2029.
User penetration, which is currently at 23.4%, is expected to rise to 28.6% by 2029.
The average revenue per user (ARPU) in Nepal's Shared Mobility market is expected to be US$44.43.
By 2029, online sales are likely to account for 62% of the total revenue generated in the sector.
When compared globally, it is projected that China will generate the highest revenue of US$365bn by 2024.
Shared Mobility is on the rise in Nepal, with the government promoting electric vehicles and ride-sharing services to reduce traffic congestion and air pollution in Kathmandu.

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.

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Analyst Opinion

The Shared Mobility market in Nepal is experiencing significant growth and evolution, reflecting the global trend towards more sustainable and convenient transportation options.

Customer preferences: Customers in Nepal are increasingly looking for cost-effective and efficient transportation solutions, which has led to a rise in the popularity of shared mobility services. The convenience of being able to book a ride quickly through mobile apps and the affordability compared to traditional taxi services are key factors driving customer preferences in the market.

Trends in the market: One notable trend in the Shared Mobility market in Nepal is the increasing diversification of services offered. In addition to ride-hailing services, bike-sharing and electric scooter rentals are becoming more common, catering to different customer needs and preferences. This trend aligns with the global shift towards multi-modal transportation options in urban areas.

Local special circumstances: Nepal's unique geography and infrastructure challenges play a significant role in shaping the Shared Mobility market in the country. The presence of hilly terrain and inadequate road infrastructure in certain areas can impact the availability and efficiency of shared mobility services. As a result, companies operating in Nepal need to adapt their services to navigate these local challenges effectively.

Underlying macroeconomic factors: The growing middle-class population and increasing urbanization in Nepal are contributing to the expansion of the Shared Mobility market. As more people move to urban centers and disposable incomes rise, there is a greater demand for convenient and affordable transportation options. Additionally, government initiatives to promote sustainable transport solutions and reduce traffic congestion are further fueling the growth of shared mobility services 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.