Shared Mobility - North Macedonia

North Macedonia

The Shared Mobility market in North Macedonia is expected to see a steady rise in revenue, with projections indicating an estimated revenue of US$154,100.00k by 2024.
The revenue is expected to grow annually at a CAGR of 3.57% between 2024 and 2029, leading to a projected market volume of US$183,600.00k by 2029.
It is worth noting that the largest market of this market in North Macedonia is Public Transportation, with a projected market volume of US$68,100.00k in 2024.
By 2029, the number of users in the Public Transportation market is expected to reach 1,102.00k users.
As of 2024, the user penetration rate stands at 68.9%, with an anticipated increase to 76.3% by 2029.
The average revenue per user (ARPU) is estimated to be US$107.40.
By 2029, online sales are expected to generate 47% of the total revenue in the Shared Mobility market in North Macedonia.
It is worth noting that globally, China is expected to generate the most revenue in this market, with an estimated revenue of US$365bn by 2024.
Shared mobility in North Macedonia is gaining momentum, with an increasing number of companies offering electric scooters and bikes for urban transportation.

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 North Macedonia is experiencing a surge in popularity with an increasing number of people opting for alternative transportation solutions.

Customer preferences: Customers in North Macedonia are showing a growing interest in Shared Mobility services due to the convenience and cost-effectiveness they offer. The flexibility of being able to use different modes of transportation based on specific needs and the ability to avoid the hassles of owning a vehicle are key drivers for the adoption of shared mobility services.

Trends in the market: In North Macedonia, the Shared Mobility market is witnessing a rise in the number of companies offering services such as ride-hailing, bike-sharing, and car-sharing. This increased competition is leading to improved service quality, competitive pricing, and a wider range of options for consumers. Additionally, the integration of technology, such as mobile apps for booking and payment, is enhancing the overall customer experience.

Local special circumstances: North Macedonia's urban centers are experiencing rapid population growth and increasing traffic congestion, leading to a greater demand for efficient and sustainable transportation solutions. Shared Mobility services are seen as a viable way to address these challenges by providing convenient and eco-friendly alternatives to traditional modes of transportation. Moreover, the country's young and tech-savvy population is quick to embrace new mobility trends, further driving the growth of the Shared Mobility market.

Underlying macroeconomic factors: The growing economy in North Macedonia is contributing to higher disposable incomes and changing consumer behavior, with more people opting for on-demand transportation services rather than traditional car ownership. Additionally, government initiatives to promote sustainable transportation and reduce carbon emissions are creating a favorable environment for the development of the Shared Mobility market. Overall, the combination of changing consumer preferences, technological advancements, and supportive government policies is propelling the growth of Shared Mobility services in North Macedonia.

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.