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Bike-sharing - Portugal

Portugal

It is projected that Portugal's Bike-sharing market will see a revenue of US$3.42m by 2024.
With an annual growth rate (CAGR 2024-2028) of 1.29%, the market volume is expected to reach US$3.60m by 2028.
Portugal's Bike-sharing market is expected to have 214.50k users users by 2028, with a projected user penetration of 2.1% in 2024 and 2.1% by 2028.
The average revenue per user (ARPU) is expected to be US$15.96.
In Portugal's Bike-sharing market, 100% of the total revenue will be generated through online sales by 2028.
In comparison to other countries, China is expected to generate the most revenue, with a projected revenue of US$5,870m in 2024.
Bike-sharing in Portugal has seen significant growth in recent years, with major cities like Lisbon and Porto implementing successful programs.

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 Portugal has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Bike-sharing market in Portugal is the increasing preference for eco-friendly transportation options. With growing awareness about the environmental impact of traditional modes of transportation, more and more people are opting for greener alternatives like bike-sharing. Additionally, the convenience and affordability of bike-sharing services have also contributed to their popularity among customers.

Trends in the market: One of the major trends in the Bike-sharing market in Portugal is the expansion of bike-sharing services to smaller cities and towns. Initially, bike-sharing services were primarily available in larger urban areas. However, with the success and increasing demand for these services, bike-sharing companies have started expanding their operations to smaller cities and towns as well. This trend is driven by the need to cater to a wider customer base and provide convenient transportation options in areas where public transportation may be limited. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies in Portugal have partnered with public transportation systems to provide a seamless travel experience for customers. This integration allows customers to easily switch between different modes of transportation, combining the benefits of bike-sharing with other forms of public transportation.

Local special circumstances: Portugal's favorable climate and scenic landscapes make it an ideal location for bike-sharing. The country's mild winters and warm summers make it suitable for year-round cycling, attracting both locals and tourists. Additionally, Portugal's compact cities and well-connected urban areas make it convenient for people to use bike-sharing services for short-distance commuting.

Underlying macroeconomic factors: The growing Bike-sharing market in Portugal is also influenced by several macroeconomic factors. The government's efforts to promote sustainable transportation and reduce carbon emissions have played a significant role in the growth of the Bike-sharing market. Incentives such as tax benefits and subsidies for bike-sharing companies have encouraged their expansion and adoption by customers. Furthermore, the increasing trend of urbanization in Portugal has led to a higher demand for alternative transportation options. As cities become more crowded and traffic congestion increases, people are looking for convenient and efficient ways to commute. Bike-sharing provides a viable solution by offering a flexible and cost-effective mode of transportation. In conclusion, the Bike-sharing market in Portugal is experiencing growth due to customer preferences for eco-friendly transportation, the expansion of services to smaller cities and towns, the integration with other modes of transportation, Portugal's favorable climate and landscapes, and the government's efforts to promote sustainable transportation. These factors, along with the underlying macroeconomic trends, have contributed to the development and success of the Bike-sharing market in Portugal.

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.