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Bike-sharing - Finland

Finland

Finland is expected to witness a significant growth in its Bike-sharing market revenue, with a projected revenue of US$5.21m by 2024.
Additionally, the revenue is expected to grow annually at a rate of 2.63%, resulting in a projected market volume of US$5.78m by 2028.
By 2028, the number of users in this market is expected to reach 199.10k users, and the user penetration is projected to increase from 3.6% in 2024 to 3.6% by 2028.
The average revenue per user (ARPU) is expected to reach US$26.15.
Furthermore, it is projected that by 2028, 100% of the total revenue in the Bike-sharing market will be generated through online sales.
In terms of global comparison, China is projected to generate the highest revenue, reaching US$5,870m in 2024.
Finland's bike-sharing market is thriving with the country's emphasis on sustainability and urban mobility.

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.

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Analyst Opinion

The Bike-sharing market in Finland has been experiencing significant growth in recent years. Customer preferences for eco-friendly transportation options, coupled with the country's well-developed cycling infrastructure, have contributed to the increasing popularity of bike-sharing services. Additionally, local special circumstances and underlying macroeconomic factors have further fueled the growth of the market. Customer preferences in Finland have shifted towards more sustainable transportation options, with a growing emphasis on reducing carbon emissions. Bike-sharing services provide an eco-friendly alternative to traditional modes of transportation, such as cars or public transportation. This aligns with the global trend of increasing environmental consciousness and the desire to reduce individual carbon footprints. Furthermore, Finland boasts a well-developed cycling infrastructure, with an extensive network of bike lanes and paths. This infrastructure makes it convenient and safe for individuals to use bike-sharing services as a means of transportation. The availability of bike-sharing stations in key locations, such as city centers and public transportation hubs, enhances the accessibility and convenience of these services. In terms of market trends, the Bike-sharing market in Finland has seen a rise in the number of players entering the market. This increased competition has led to innovations in bike-sharing technology and services, such as the introduction of electric bikes and mobile app-based booking systems. These advancements have made bike-sharing services more user-friendly and appealing to a wider range of customers. Local special circumstances, such as Finland's high bicycle ownership rate and cultural affinity for cycling, have also contributed to the growth of the Bike-sharing market. Finland has one of the highest rates of bicycle ownership in the world, indicating a strong interest in cycling among the population. This existing interest in cycling makes it easier for bike-sharing services to attract and retain customers. Additionally, Finland's cycling culture promotes the use of bicycles as a means of transportation, recreation, and exercise. The country's long summer days and beautiful natural landscapes make it an ideal destination for cycling enthusiasts. This cultural affinity for cycling provides a favorable environment for bike-sharing services to thrive. Underlying macroeconomic factors, such as urbanization and changing demographics, have also played a role in the growth of the Bike-sharing market in Finland. As more people move to urban areas, the demand for convenient and sustainable transportation options increases. Bike-sharing services offer a flexible and cost-effective solution for short-distance travel within cities. In conclusion, the Bike-sharing market in Finland is experiencing significant growth due to customer preferences for eco-friendly transportation options, the country's well-developed cycling infrastructure, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, we can expect to see further innovations and advancements in bike-sharing technology and services.

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.