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Bike-sharing - Australia

Australia

Australia is expected to witness a significant surge in the Bike-sharing market revenue, with the projected revenue estimated to reach US$68.25m by 2024.
The market is expected to experience a steady growth rate (CAGR 2024-2028) of 2.78%, leading to a projected market volume of US$76.15m by 2028.
Furthermore, the number of users in this market is projected to rise up to 1.04m users by 2028, with a user penetration rate of 3.7% in 2024 and 3.8% by 2028.
The average revenue per user (ARPU) is expected to be US$69.27.
Interestingly, 99% of the total revenue in this market will be generated through online sales by 2028.
It is worth noting that, in comparison to other countries, China is expected to generate the highest revenue of US$5,870m in 2024 in the Bike-sharing market.
Bike-sharing in Australia continues to grow, with major cities such as Melbourne and Sydney expanding their networks and introducing new technologies to enhance user experience.

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 Australia has experienced significant growth in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Australia are increasingly looking for convenient and sustainable transportation options. Bike-sharing provides an affordable and eco-friendly alternative to traditional modes of transportation such as cars or public transport. Additionally, the rise of health and wellness trends has also contributed to the growing popularity of bike-sharing, as people are looking for ways to incorporate physical activity into their daily routines.

Trends in the market: The Bike-sharing market in Australia has been influenced by several trends. One of the key trends is the increasing adoption of dockless bike-sharing systems. These systems allow users to locate and unlock bikes using a smartphone app, providing greater flexibility and convenience. This trend has been driven by advancements in technology and the growing popularity of mobile applications. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing companies in Australia are partnering with public transport operators to provide seamless and integrated travel options. This allows users to easily switch between different modes of transportation, making bike-sharing a more attractive option for daily commuting.

Local special circumstances: Australia's urban centers, such as Sydney, Melbourne, and Brisbane, are densely populated and face traffic congestion issues. Bike-sharing offers a solution to these challenges by providing a flexible and efficient mode of transportation. Additionally, Australia's favorable climate and extensive network of bike lanes and paths make it an ideal market for bike-sharing.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Australia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth, which has led to an increase in disposable income and consumer spending. This has allowed more people to afford bike-sharing services and contribute to the market's growth. Furthermore, government initiatives and policies promoting sustainable transportation have also played a role in the development of the Bike-sharing market. Local governments in Australia have introduced bike-sharing programs and infrastructure improvements to encourage the use of bicycles as a means of transportation. These initiatives have created a supportive environment for bike-sharing companies to thrive. In conclusion, the Bike-sharing market in Australia has experienced significant growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customers increasingly prioritize convenience, sustainability, and health, bike-sharing has emerged as a popular transportation option. The integration of technology, partnerships with public transport operators, and government support have all contributed to the market's expansion. With favorable conditions and a growing demand, the Bike-sharing market in Australia is expected to continue its upward trajectory.

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.