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Bike-sharing - Ireland

Ireland

The Bike-sharing market in Ireland is forecasted to generate a revenue of €2.79m by 2024, with an expected annual growth rate of 3.16% between 2024 and 2029.
This is projected to result in a market volume of €3.26m by 2029.
The number of users is expected to increase to 120.60k users in the same year.
In 2024, the user penetration rate is expected to be 2.1%, while it is expected to rise to 2.3% by 2029.
The average revenue per user (ARPU) is expected to be €26.34.
It is anticipated that 100% of the total revenue in the Bike-sharing market will be generated through online sales by 2029.
In global comparison, China is expected to generate the highest revenue of €5,061m by 2024.
Ireland's bike-sharing market is growing steadily, with a focus on expanding the service to suburban areas and improving bike infrastructure in 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

Bike-sharing has become increasingly popular in Ireland in recent years, with a growing number of people opting for this convenient and eco-friendly mode of transportation.

Customer preferences: One of the main reasons for the growth of the Bike-sharing market in Ireland is the changing preferences of customers. As more people become concerned about the environment and seek sustainable transportation options, bike-sharing provides a convenient and affordable solution. Additionally, the rise of health and wellness trends has also contributed to the popularity of bike-sharing, as people are increasingly looking for ways to incorporate physical activity into their daily routines.

Trends in the market: The Bike-sharing market in Ireland has witnessed several key trends. Firstly, there has been a significant increase in the number of bike-sharing companies operating in the country. This has led to greater competition, resulting in improved services and more options for customers. Secondly, there has been a shift towards dockless bike-sharing systems, where bikes can be picked up and dropped off anywhere within a designated area. This flexibility has made bike-sharing even more convenient for users. Finally, the integration of technology has played a crucial role in the growth of the Bike-sharing market in Ireland. Mobile apps and GPS tracking systems have made it easier for customers to locate and unlock bikes, further enhancing the user experience.

Local special circumstances: The unique geography and urban layout of Ireland have also contributed to the development of the Bike-sharing market. The country's compact cities and well-connected cycling infrastructure make it an ideal location for bike-sharing services. Additionally, the high population density in urban areas has created a strong demand for alternative transportation options, further driving the growth of the Bike-sharing market.

Underlying macroeconomic factors: Several macroeconomic factors have influenced the growth of the Bike-sharing market in Ireland. Firstly, the country's strong economic growth has resulted in increased disposable income for individuals, allowing them to afford bike-sharing services. Secondly, government initiatives to promote sustainable transportation and reduce carbon emissions have provided a favorable regulatory environment for bike-sharing companies. These factors, combined with changing customer preferences and local special circumstances, have created a conducive environment for the development of the Bike-sharing market in Ireland.

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.