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Bike-sharing - South America

South America

South America is projected to reach a revenue of US$342.60m in the Bike-sharing market by 2024.
The revenue is expected to grow annually at a rate of 4.98% between 2024 and 2028, resulting in a projected market volume of US$416.10m by 2028.
In this market, the number of users is expected to reach 27.41m users by 2028.
The user penetration rate is projected to be 5.8% in 2024 and 6.5% by 2028.
The average revenue per user (ARPU) is expected to be US$14.28.
By 2028, 95% of the total revenue in this market will be generated through online sales.
In comparison to the rest of the world, China is expected to generate the most revenue, reaching US$5,870m in 2024.
Bike-sharing in Brazil is gaining popularity due to the country's focus on sustainable transportation 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 South America has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of this industry. Customer preferences in South America have played a key role in driving the growth of the Bike-sharing market. With increasing concerns about environmental sustainability, more and more people are opting for eco-friendly transportation options. Bike-sharing provides a convenient and affordable alternative to traditional modes of transportation, making it an attractive option for many consumers. Additionally, the health benefits associated with cycling have also contributed to the popularity of Bike-sharing in South America. Trends in the market have also played a significant role in the growth of the Bike-sharing industry in South America. One notable trend is the increasing adoption of technology in Bike-sharing services. Many Bike-sharing companies now offer mobile apps that allow users to easily locate and rent bikes. This technological advancement has made Bike-sharing more accessible and convenient for consumers, further fueling its growth. Local special circumstances have also contributed to the development of the Bike-sharing market in South America. The region's urban population has been rapidly increasing, leading to congested roads and limited parking spaces. Bike-sharing offers a solution to these challenges by providing a flexible and efficient mode of transportation. Additionally, the warm climate in many parts of South America makes cycling a viable option throughout the year, further boosting the demand for Bike-sharing services. Underlying macroeconomic factors have also played a role in the growth of the Bike-sharing market in South America. The region has experienced economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more people to afford Bike-sharing services and contribute to the market's expansion. Furthermore, government initiatives and support for sustainable transportation have also played a role in promoting the Bike-sharing industry in South America. In conclusion, the Bike-sharing market in South America has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for eco-friendly transportation options, technological advancements, urbanization, favorable climate, and economic growth have all contributed to the development of this industry. As these factors continue to evolve, the Bike-sharing market in South America is expected to further expand in the coming years.

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.