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Bike-sharing - Qatar

Qatar

In Qatar, the Bike-sharing market is anticipated to experience a substantial growth in revenue, with an expected projection of US$3.49m by 2024.
Moreover, this revenue is expected to exhibit an annual growth rate (CAGR 2024-2028) of 7.84%, resulting in an estimated market volume of US$4.72m by 2028.
The Bike-sharing market is also expected to attract a considerable number of users, with an anticipated amount of 185.00k users by 2028.
The user penetration rate is projected to increase from 5.8% in 2024 to 6.6% by 2028, while the average revenue per user (ARPU) is expected to amount to US$21.98.
Additionally, online sales are expected to contribute significantly to the revenue generated in the Bike-sharing market in Qatar, accounting for 93% of the total revenue by 2028.
Despite the growth in Qatar, it is noteworthy that China is projected to generate the most revenue in the Bike-sharing market globally, with an estimated revenue of US$5,870m in 2024.
Qatar's bike-sharing market is showing promising growth with the introduction of smart bikes and increased government investment in cycling infrastructure.

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 Qatar has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Qatar, there has been a growing preference for sustainable transportation options, which has fueled the demand for bike-sharing services. Customers are increasingly looking for convenient and eco-friendly modes of transportation that can help reduce traffic congestion and promote a healthier lifestyle. Bike-sharing offers a flexible and cost-effective solution for short-distance travel, making it an attractive option for both locals and tourists.

Trends in the market: One of the key trends in the Bike-sharing market in Qatar is the integration of technology. Bike-sharing companies are leveraging mobile applications and GPS tracking systems to provide users with real-time information about bike availability, locations, and payment options. This has made it easier for customers to access and use bike-sharing services, further driving the market growth. Another trend is the expansion of bike-sharing networks across major cities in Qatar. As the government promotes sustainable transportation initiatives, bike-sharing companies are partnering with local municipalities to establish docking stations and increase the availability of bikes. This expansion has not only improved accessibility but also increased the visibility and awareness of bike-sharing services among the general public.

Local special circumstances: Qatar's urban landscape, with its well-maintained infrastructure and dedicated cycling lanes, provides an ideal environment for bike-sharing. The compact nature of cities like Doha makes it convenient for users to navigate and explore the city on bikes. Additionally, Qatar's favorable climate, with mild winters and long summers, encourages outdoor activities and makes bike-sharing a popular choice for commuting and leisure purposes.

Underlying macroeconomic factors: The Bike-sharing market in Qatar is also influenced by underlying macroeconomic factors. The country's strong economic growth and rising disposable incomes have led to increased spending on recreational activities and transportation. Additionally, the government's focus on diversifying the economy and reducing dependency on oil has resulted in investments in infrastructure development, including cycling infrastructure. These factors have created a conducive environment for the growth of the Bike-sharing market in Qatar. Overall, the Bike-sharing market in Qatar is witnessing significant growth due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. With the continued focus on sustainability and urban development, the market is expected to expand further in the coming years, providing an efficient and eco-friendly transportation solution for the people of Qatar.

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.