Market Insights Mobility Shared Mobility

Bike-sharing - Turkey

Turkey

Turkey is expected to witness a significant growth in the Bike-sharing market.
The projected revenue for the market is estimated to reach US$101.60m by 2024, with an annual growth rate of 13.21% (CAGR 2024-2028).
This growth will result in a projected market volume of US$166.90m by 2028.
By 2028, the number of users in the Bike-sharing market is expected to reach 6.72m users, with a user penetration rate of 7.6%, up from 7.1% in 2024.
The average revenue per user (ARPU) is expected to be US$16.51.
By 2028, online sales in the Bike-sharing market are projected to generate 100% of the total revenue.
It is worth noting that China will remain the top revenue-generating country in the global comparison, with a projected revenue of US$5,870m in 2024.
Turkey's bike-sharing market is gaining traction as cities like Istanbul introduce new bike lanes and citizens embrace a more eco-friendly mode of transportation.

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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Bike-sharing market in Turkey is experiencing significant growth and development.

Customer preferences: Customers in Turkey are increasingly opting for bike-sharing services due to their convenience, affordability, and environmental benefits. Bike-sharing allows individuals to easily navigate through congested urban areas and avoid traffic jams. Additionally, the cost of using a bike-sharing service is relatively low compared to owning and maintaining a personal bike. This appeals to budget-conscious consumers who are looking for cost-effective transportation options. Furthermore, the growing awareness of environmental issues and the desire to reduce carbon emissions has driven the demand for bike-sharing services in Turkey.

Trends in the market: One of the key trends in the Bike-sharing market in Turkey is the expansion of bike-sharing networks in major cities. Companies are investing in infrastructure and increasing the number of bike stations to provide better coverage and accessibility to customers. This expansion is driven by the increasing demand for bike-sharing services and the need to cater to a larger customer base. Additionally, bike-sharing companies are incorporating technology into their services, allowing customers to easily locate and unlock bikes using mobile applications. This integration of technology enhances the user experience and makes bike-sharing more convenient and user-friendly. Another trend in the market is the introduction of electric bikes in bike-sharing fleets. Electric bikes provide an alternative mode of transportation for customers who may have longer commutes or prefer a faster and less physically demanding ride. These bikes are equipped with batteries that assist with pedaling, making it easier for users to navigate hilly terrains or cover longer distances. The introduction of electric bikes expands the target market for bike-sharing services, attracting a wider range of customers who may have previously been deterred by the physical effort required to ride a traditional bike.

Local special circumstances: Turkey has a young and urbanized population, with a high concentration of residents in major cities. This demographic profile creates a favorable environment for the growth of the Bike-sharing market. Urban dwellers are more likely to face traffic congestion and limited parking options, making bike-sharing an attractive alternative for short-distance travel. Additionally, the government in Turkey has been actively promoting sustainable transportation solutions, including bike-sharing, as part of its efforts to reduce pollution and improve urban mobility. This support from the government has created a positive regulatory environment for bike-sharing companies and has contributed to the growth of the market.

Underlying macroeconomic factors: The growing economy in Turkey has led to an increase in disposable income and improved living standards for many individuals. This has resulted in a higher demand for convenient and efficient transportation options, such as bike-sharing. Additionally, the tourism industry in Turkey is thriving, attracting a large number of domestic and international visitors. Bike-sharing services provide tourists with a flexible and cost-effective way to explore cities and tourist attractions, further driving the demand for bike-sharing services in the country.

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.