Market Insights Mobility Shared Mobility

Bike-sharing - Estonia

Estonia

It is projected that in Estonia, the revenue for the Bike-sharing market will reach US$0.59m by 2024.
Furthermore, it is expected that the revenue will exhibit an annual growth rate of 1.65% (CAGR 2024-2028) leading to a projected market volume of US$0.63m by 2028.
The number of users in this market is estimated to reach 46.09k users by 2028.
The user penetration rate is expected to increase from 3.5% in 2024 to 3.5% by 2028.
The average revenue per user (ARPU) is expected to be US$12.81.
Additionally, it is projected that 95% of the total revenue will be generated through online sales by 2028.
It is worth noting that in comparison to other countries, China is expected to generate the most revenue in this market, with a projected revenue of US$5,870m in 2024.
Despite its small size, Estonia has a thriving bike-sharing market with several companies offering convenient and affordable options for locals and tourists alike.

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

Region comparison

Currency

Analyst Opinion

The Bike-sharing market in Estonia has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth in the Bike-sharing market in Estonia is the increasing preference for sustainable and eco-friendly transportation options. Customers in Estonia are becoming more conscious of their environmental impact and are actively seeking out greener alternatives for their daily commute. Bike-sharing services provide a convenient and affordable solution for short-distance travel, allowing customers to reduce their carbon footprint while also enjoying the health benefits of cycling.

Trends in the market: The Bike-sharing market in Estonia has witnessed a surge in the number of service providers and the availability of bikes across the country. This trend can be attributed to the growing popularity of bike-sharing among both locals and tourists. With the rise of smartphone usage, bike-sharing apps have made it easier than ever for customers to locate and rent bikes on the go. This convenience factor, coupled with the increasing number of bike lanes and infrastructure developments, has contributed to the rapid growth of the Bike-sharing market in Estonia.

Local special circumstances: Estonia has a unique geographical landscape that makes it well-suited for bike-sharing services. The country is known for its beautiful and picturesque landscapes, making it an attractive destination for cycling enthusiasts. Additionally, Estonia has a relatively small population and compact cities, which makes it easier for bike-sharing services to establish a strong presence and ensure the availability of bikes at convenient locations. The government of Estonia has also been supportive of sustainable transportation initiatives, providing incentives and subsidies for bike-sharing operators.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Estonia is also influenced by certain macroeconomic factors. The country has a stable and prosperous economy, which has resulted in an increase in disposable income for its citizens. This has made bike-sharing services more affordable and accessible to a wider range of customers. Furthermore, the government's focus on sustainable development and reducing carbon emissions has created a favorable environment for bike-sharing operators to thrive. In conclusion, the Bike-sharing market in Estonia is experiencing significant growth due to customer preferences for sustainable transportation options, the availability of bike-sharing apps, the development of bike lanes and infrastructure, the unique geographical landscape of Estonia, and the country's stable economy. As the demand for eco-friendly transportation continues to rise, it is expected that the Bike-sharing market in Estonia will continue to expand in the coming years.

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.