Bike-sharing - Malaysia

  • Malaysia
  • By 2024, the Bike-sharing market in Malaysia is projected to reach a revenue of US$25.77m .
  • The market is expected to exhibit an annual growth rate of 4.18% between 2024 and 2029, resulting in a projected market volume of US$31.63m by 2029.
  • The number of users in this market is expected to reach 1.86m users by 2029, while user penetration is projected to be 4.5% in 2024 and 5.1% by 2029.
  • The average revenue per user (ARPU) is expected to amount to US$16.32 .
  • By 2029, 98% of the total revenue from the Bike-sharing market in Malaysia will be generated through online sales.
  • In global comparison, China is expected to generate the most revenue in this market, with a revenue of US$5,515m in 2024.
  • The bike-sharing market in Malaysia is experiencing growth due to the government's initiatives to promote sustainable transportation.

Key regions: South America, Malaysia, India, Indonesia, Saudi Arabia

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Bike-sharing market in Malaysia has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences:
In Malaysia, there is a growing demand for alternative transportation options due to increasing traffic congestion and environmental concerns. Bike-sharing provides a convenient and eco-friendly mode of transportation for short trips within cities. Additionally, the younger generation in Malaysia is increasingly embracing a more active and healthy lifestyle, which further contributes to the popularity of bike-sharing.

Trends in the market:
One of the key trends in the Malaysian Bike-sharing market is the expansion of dockless bike-sharing services. Unlike traditional docked systems, dockless bike-sharing allows users to pick up and drop off bikes anywhere within a designated service area, using a mobile app. This flexibility and convenience have made dockless bike-sharing services highly popular among urban commuters in Malaysia. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing operators in Malaysia have partnered with public transportation companies to provide last-mile connectivity. This allows commuters to easily switch between bikes and trains or buses, making their journey more seamless and efficient.

Local special circumstances:
Malaysia's warm climate and relatively flat terrain make it well-suited for bike-sharing. Unlike in some other countries, weather conditions in Malaysia are generally favorable for outdoor activities, including cycling. This encourages more people to use bike-sharing services for their daily commute or leisure activities. Furthermore, the Malaysian government has been supportive of bike-sharing initiatives as part of its efforts to promote sustainable transportation. The government has implemented policies and regulations to facilitate the growth of bike-sharing services, such as providing designated bike lanes and promoting bike-friendly infrastructure in cities.

Underlying macroeconomic factors:
The growing popularity of bike-sharing in Malaysia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. This has allowed more people to afford the cost of bike-sharing services and contribute to the market's growth. In conclusion, the Bike-sharing market in Malaysia has seen significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for alternative transportation options, the convenience of dockless bike-sharing, and the integration with other modes of transportation have all contributed to the market's expansion. With the government's support and favorable weather conditions, bike-sharing is expected to continue flourishing in Malaysia.

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.

Overview

  • Revenue
  • Key Players
  • Sales Channels
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations