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Bike-sharing - Western Asia

Western Asia

The Bike-sharing market in Western Asia is projected to generate a revenue of US$96.66m in 2024.
The market is expected to grow annually at a rate of 8.08% between 2024 and 2028, with a projected market volume of US$131.90m by 2028.
The number of users in this market is also expected to increase, reaching 11.38m users by 2028.
User penetration is projected to be 4.2% in 2024 and 4.9% by 2028.
The average revenue per user (ARPU) is expected to be US$10.26.
Additionally, by 2028, 93% of the total revenue in the Bike-sharing market will be generated through online sales.
It is worth noting that in comparison to other countries, China is expected to generate the most revenue in this market, with a projected revenue of US$5,870m in 2024.
Bike-sharing is gaining popularity in Western Asia, with many cities in the region investing in infrastructure and technology to support the trend.

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 Western Asia is experiencing significant growth and development. Customer preferences, local special circumstances, and underlying macroeconomic factors are all contributing to this trend. Customer preferences in Western Asia are shifting towards more sustainable and eco-friendly transportation options. With growing concerns about pollution and traffic congestion, people are looking for alternative modes of transportation that are both convenient and environmentally friendly. Bike-sharing provides a solution to these issues by offering a convenient and accessible means of transportation that does not contribute to pollution or traffic congestion. Trends in the market show that bike-sharing services are expanding rapidly in Western Asia. The availability and accessibility of bike-sharing services have increased in recent years, with more cities and towns adopting bike-sharing programs. This expansion is driven by the increasing demand for alternative transportation options and the willingness of local governments to invest in sustainable transportation infrastructure. Local special circumstances also play a role in the growth of the Bike-sharing market in Western Asia. The region has a favorable climate for biking, with mild winters and long periods of dry weather. This makes biking a viable transportation option year-round, unlike in some other regions where extreme weather conditions may limit the usability of bikes. Additionally, Western Asia has a relatively young population, which tends to be more open to adopting new technologies and embracing alternative transportation options. Underlying macroeconomic factors are also contributing to the development of the Bike-sharing market in Western Asia. Economic growth in the region has led to an increase in disposable income, allowing more people to afford the cost of bike-sharing services. Furthermore, governments in Western Asia are investing in sustainable transportation infrastructure as part of their efforts to reduce carbon emissions and promote sustainable development. This investment creates a favorable environment for the growth of the Bike-sharing market. In conclusion, the Bike-sharing market in Western Asia is experiencing significant growth and development due to customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards more sustainable transportation options, the favorable climate for biking, the young population, and the investment in sustainable transportation infrastructure all contribute to the expansion of the Bike-sharing market in the region. As these trends continue, we can expect further growth and innovation in the Bike-sharing market in Western Asia.

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.