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Bike-sharing - Spain

Spain

Spain is expected to see a significant growth in the Bike-sharing market, with revenue projected to reach €29.55m by 2024.
The annual growth rate (CAGR 2024-2028) is expected to be 4.95%, resulting in a projected market volume of €35.85m by 2028.
By then, the number of users is expected to reach 2.31m users, with a user penetration of 4.9%.
The average revenue per user (ARPU) is expected to be €14.67.
Online sales are projected to generate 89% of the total revenue by 2028.
It is worth noting that in global comparison, China is expected to generate the most revenue in the Bike-sharing market, with an estimated revenue of €5,366m in 2024.
Spain's bike-sharing market is experiencing a surge in popularity, driven by the country's warm climate and efforts to promote sustainable, eco-friendly transportation options.

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 Spain has been experiencing significant growth and development in recent years.

Customer preferences: One of the main reasons for the growth of the Bike-sharing market in Spain is the increasing preference for sustainable and eco-friendly transportation options. With growing concerns about climate change and air pollution, more and more people are opting for greener modes of transportation. Bike-sharing provides a convenient and affordable solution for short-distance travel, making it an attractive option for many consumers.

Trends in the market: The Bike-sharing market in Spain has seen a surge in popularity due to the rise of dockless bike-sharing services. Unlike traditional bike-sharing programs that require users to pick up and return bikes at designated docking stations, dockless bike-sharing allows users to locate and unlock bikes using a smartphone app. This flexibility and convenience have contributed to the rapid adoption of bike-sharing in Spain. Another trend in the market is the integration of electric bikes into bike-sharing fleets. Electric bikes offer an easier and more efficient way to travel longer distances, making them a popular choice among commuters. The availability of electric bikes in bike-sharing programs has expanded the market to a wider range of users, including those who may not have considered cycling as a viable mode of transportation before.

Local special circumstances: Spain's warm climate and relatively flat terrain make it an ideal environment for cycling. The country is known for its vibrant cycling culture, with many cities and towns investing in infrastructure to promote cycling as a means of transportation. This supportive environment has created a favorable market for bike-sharing services in Spain.

Underlying macroeconomic factors: Spain has experienced steady economic growth in recent years, leading to an increase in disposable income for many consumers. This has allowed more people to afford the cost of bike-sharing services, contributing to the growth of the market. Additionally, the tourism industry in Spain is thriving, with millions of visitors each year. Bike-sharing provides tourists with a convenient and eco-friendly way to explore the country, further driving the demand for bike-sharing services. In conclusion, the Bike-sharing market in Spain is experiencing rapid growth and development due to customer preferences for sustainable transportation options, trends such as dockless bike-sharing and the integration of electric bikes, local special circumstances such as Spain's cycling culture and favorable climate, and underlying macroeconomic factors such as economic growth and the thriving tourism industry.

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.