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Bike-sharing - Brazil

Brazil

Brazil is projected to reach a revenue of €241.90m in the Bike-sharing market by 2024.
The revenue is expected to grow annually at a rate of 4.18% between 2024 and 2029, resulting in a projected market volume of €296.90m by 2029.
By 2029, it is expected that the number of users in the Bike-sharing market will amount to 15.30m users, with a projected user penetration rate of 6.9%.
In 2024, the user penetration rate is projected to be 6.3%.
The average revenue per user (ARPU) for this market is expected to be €17.74.
By 2029, it is projected that 96% of total revenue in the Bike-sharing market will be generated through online sales.
In global comparison, it is worth mentioning that China is expected to generate the most revenue, which is projected to be €5,114m in 2024.
Bike-sharing in Brazil is gaining popularity as a cost-effective and environmentally friendly mode of transportation, with major cities like São Paulo and Rio de Janeiro seeing a surge in the number of bike-sharing programs.

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 Brazil has been experiencing significant growth in recent years.

Customer preferences: One of the key reasons for the growth of the Bike-sharing market in Brazil is the increasing preference for eco-friendly transportation options. With growing concerns about climate change and environmental sustainability, more and more people are opting for greener modes of transportation. Bike-sharing provides a convenient and eco-friendly alternative to traditional modes of transportation such as cars or public transport.

Trends in the market: Another trend driving the growth of the Bike-sharing market in Brazil is the increasing popularity of urban cycling. As cities become more congested and traffic becomes a major issue, many people are turning to bikes as a faster and more efficient way to navigate through the city. Bike-sharing programs provide a cost-effective solution for urban dwellers who want to avoid traffic and enjoy the benefits of cycling.

Local special circumstances: Brazil has a large population and several densely populated cities, which makes it an ideal market for Bike-sharing services. The country also has a strong cycling culture, with many people using bicycles as a mode of transportation for daily commutes. This cultural inclination towards cycling has created a favorable environment for the growth of the Bike-sharing market in Brazil.

Underlying macroeconomic factors: The economic development in Brazil has also played a role in the growth of the Bike-sharing market. As the country's economy continues to grow, more people have disposable income to spend on leisure activities and transportation options. Bike-sharing services offer an affordable and convenient option for people to explore their cities and enjoy outdoor activities. In conclusion, the Bike-sharing market in Brazil is growing due to customer preferences for eco-friendly transportation options, the increasing popularity of urban cycling, the country's cycling culture, and the underlying macroeconomic factors. As these trends continue to evolve, we can expect further growth in the Bike-sharing market in Brazil.

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.