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Bike-sharing - Pakistan

Pakistan

Pakistan is expected to witness a significant increase in revenue in the Bike-sharing market, with a projected value of US$57.39m in 2024 and an annual growth rate of 9.32% until 2028, resulting in a market volume of US$81.98m.
The number of users is expected to reach 11.78m users by 2028, with a user penetration of 3.9% in 2024 and 4.5% by 2028.
The average revenue per user (ARPU) is estimated to be US$6.05.
Online sales are expected to generate 95% of the total revenue in the Bike-sharing market by 2028.
China is projected to generate the highest revenue in the global comparison, reaching US$5,870m in 2024.
Bike-sharing in Pakistan is gaining popularity as a sustainable and affordable mode of transportation in urban areas.

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 Pakistan is experiencing significant growth and development in recent years.

Customer preferences: Customers in Pakistan are increasingly opting for bike-sharing services due to several reasons. Firstly, the rising traffic congestion in major cities has made it difficult for people to commute using traditional modes of transportation. Bike-sharing offers a convenient and efficient solution, allowing people to navigate through congested roads quickly. Secondly, the cost-effectiveness of bike-sharing is another factor driving customer preferences. With rising fuel prices and limited parking spaces, many individuals find bike-sharing a more affordable option for short-distance travel. Lastly, the growing awareness of environmental issues has also contributed to the popularity of bike-sharing in Pakistan. Customers are becoming more conscious of their carbon footprint and are actively seeking sustainable transportation alternatives.

Trends in the market: One of the prominent trends in the Bike-sharing market in Pakistan is the expansion of bike-sharing services to smaller cities and towns. Initially, bike-sharing services were limited to major urban centers like Karachi and Lahore. However, due to the success and demand for these services, companies are now expanding their operations to smaller cities. This trend is driven by the increasing urbanization in these areas and the need for efficient transportation options. Additionally, bike-sharing companies are also introducing electric bikes in their fleets to cater to the growing demand for eco-friendly transportation. Another trend in the market is the integration of bike-sharing services with other modes of transportation. Companies are partnering with ride-hailing services and public transportation providers to offer seamless travel experiences to customers. This integration allows users to easily switch between different modes of transportation, enhancing the overall convenience and accessibility of bike-sharing.

Local special circumstances: Pakistan has a young and tech-savvy population, which has played a significant role in the growth of the Bike-sharing market. The widespread adoption of smartphones and the availability of mobile apps for bike-sharing services have made it easier for customers to access and use these services. Additionally, the government of Pakistan has also been supportive of bike-sharing initiatives, implementing policies and regulations that promote the growth of the industry.

Underlying macroeconomic factors: Several macroeconomic factors have contributed to the development of the Bike-sharing market in Pakistan. The country's rapid urbanization and population growth have led to increased demand for transportation solutions. Additionally, the rising middle class and disposable incomes have made bike-sharing more affordable and accessible to a larger segment of the population. Furthermore, the government's focus on sustainable development and reducing carbon emissions has created a favorable environment for the growth of bike-sharing 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.