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Bike-sharing - Belgium

Belgium

Belgium is expected to witness a significant growth in its Bike-sharing market as the revenue is projected to reach €5.39m by 2024.
This revenue is further expected to grow annually at a rate of 1.48%, resulting in a projected market volume of €5.80m by 2029.
In the same period, the number of users in the Bike-sharing market is expected to be 0.36m users with a user penetration of 2.9% in 2024 and 3.1% by 2029.
It is projected that the average revenue per user (ARPU) will be €15.68.
Notably, the online sales are expected to account for 95% of the total revenue generated in the Bike-sharing market in Belgium by 2029.
It is worth mentioning that in global comparison, China is expected to generate the most revenue in the Bike-sharing market with a projected revenue of €5,061m in 2024.
Belgium's bike-sharing market is gaining popularity with the emergence of electric bikes and the expansion of stations in major cities.

Key regions: South America, Malaysia, India, Indonesia, Saudi Arabia

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 Belgium has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth in the Bike-sharing market in Belgium is the increasing preference for sustainable and eco-friendly transportation options. Customers are becoming more conscious of the environmental impact of traditional modes of transportation and are actively seeking alternatives. Bike-sharing provides a convenient and affordable solution for short-distance travel, reducing the reliance on cars and public transportation.

Trends in the market: The Bike-sharing market in Belgium has seen a rise in the number of bike-sharing operators and the expansion of their services. This trend can be attributed to the increasing demand for bike-sharing services and the growing competition in the market. Operators are constantly innovating and improving their services to attract more customers. They are introducing new features such as electric bikes, mobile applications for easy booking and payment, and partnerships with local businesses to provide additional benefits to users.

Local special circumstances: Belgium is known for its well-developed cycling infrastructure, with dedicated bike lanes and bike-friendly cities. This makes it easier for bike-sharing operators to establish their services and for customers to navigate through the cities. Additionally, the country has a strong cycling culture, with many people using bikes as a primary mode of transportation. This cultural aspect further contributes to the growth of the Bike-sharing market in Belgium.

Underlying macroeconomic factors: The growth in the Bike-sharing market in Belgium can also be attributed to various macroeconomic factors. The country has a stable economy and a high standard of living, which allows people to afford bike-sharing services. Furthermore, the government has been actively promoting sustainable transportation options and has implemented policies to encourage the use of bikes. This support from the government creates a favorable environment for bike-sharing operators and encourages more people to choose bikes as a mode of transportation. In conclusion, the Bike-sharing market in Belgium is experiencing significant growth due to customer preferences for sustainable transportation options, the increasing number of bike-sharing operators and their innovative services, the well-developed cycling infrastructure and cycling culture in the country, and the support from the government. These factors combined create a favorable environment for the continued expansion of the Bike-sharing market in Belgium.

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.