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Bike-sharing - Central & Western Europe

Central & Western Europe

By 2024, revenue in the Bike-sharing market in Central & Western Europe is projected to reach US$303.70m, with an estimated annual growth rate (CAGR 2024-2028) of 5.33%.
This growth is expected to result in a projected market volume of US$373.80m by 2028.
Furthermore, the number of users in this market is expected to amount to 12.71m users by 2028, with user penetration projected to be 3.4% in 2024 and 3.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$26.67.
Additionally, 87% of total revenue in this market is projected to be generated through online sales by 2028.
Interestingly, in global comparison, it is forecasted that China will generate the most revenue in the Bike-sharing market, with an estimated revenue of US$5,870m in 2024.
Germany's bike-sharing market is dominated by established players such as Deutsche Bahn's Call a Bike, while Austria's market is seeing growth with new entrants like Citybike Wien.

Key regions: Thailand, China, Germany, Saudi Arabia, United States

Definition:

The Bike-sharing market includes short-term bike-sharing services. In bike-sharing services, bicycles are generally owned by a bike-sharing provider and are independently reserved by customers around the clock. Customers are required to open an account with the bike-sharing provider and can then reserve bicycles. This is usually done with a smartphone app, but there are also service providers that allow reservations to be made via the provider's website, by telephone, or at a terminal.

The two most frequently used bike-sharing varieties are the following: station-based (e.g., Stadtrad and Citi Bike New York) and free-floating (such as nextbike and ofo). With station-based bike-sharing, a bicycle is retrieved from a bike-sharing station and returned to either the same station or dropped off at another station. With free-floating bike-sharing, it is possible to find bicycles everywhere within the service provider's business zone and leave the bicycle anywhere in accordance with traffic regulations. Peer-to-peer bike-sharing is not included in the market definition of this market. 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 Bike-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.

Market

Region

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Analyst Opinion

The Bike-sharing market in Central & Western Europe has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth of the Bike-sharing market in Central & Western Europe is the increasing preference for eco-friendly transportation options. Customers are becoming more conscious of the environmental impact of traditional modes of transportation and are actively seeking alternatives that are more sustainable. Bike-sharing offers a convenient and environmentally friendly solution, allowing people to travel short distances without relying on cars or public transportation.

Trends in the market: One of the key trends in the Bike-sharing market in Central & Western Europe is the adoption of dockless bike-sharing systems. Unlike traditional docked systems, which require users to pick up and return bikes at designated stations, dockless systems allow users to pick up and drop off bikes anywhere within a certain area. This flexibility has made dockless bike-sharing more popular among customers, as it offers greater convenience and accessibility. Another trend in the market is the integration of bike-sharing services with mobile apps and digital platforms. Many bike-sharing companies now have their own mobile apps, which allow users to easily locate and unlock bikes, track their rides, and make payments. This integration with digital platforms has made bike-sharing more user-friendly and has attracted a wider customer base.

Local special circumstances: The Bike-sharing market in Central & Western Europe is also influenced by local special circumstances. For example, the high population density and limited parking space in cities like Amsterdam and Copenhagen have contributed to the popularity of bike-sharing services. In these cities, where cycling is already a common mode of transportation, bike-sharing provides an additional option for residents and tourists to get around.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Central & Western Europe can also be attributed to underlying macroeconomic factors. The region has experienced steady economic growth in recent years, resulting in increased disposable income and higher standards of living. This has led to a greater demand for convenient and sustainable transportation options, such as bike-sharing. Furthermore, government initiatives and policies promoting sustainable transportation have also played a role in the development of the Bike-sharing market in Central & Western Europe. Many cities in the region have implemented bike-friendly infrastructure, including dedicated bike lanes and parking facilities, which have made cycling and bike-sharing more attractive and safer for users. In conclusion, the Bike-sharing market in Central & Western Europe is growing due to customer preferences for eco-friendly transportation, trends such as the adoption of dockless systems and integration with mobile apps, local special circumstances like high population density, and underlying macroeconomic factors such as economic growth and government initiatives. This market is expected to continue expanding as more people recognize the benefits of bike-sharing and as cities invest in infrastructure to support this mode of transportation.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of bike-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.