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Bike-sharing - Austria

Austria

The Bike-sharing market in Austria is expected to witness a significant rise in its revenue, which is projected to reach US$4.19m by 2024.
Furthermore, the market is anticipated to exhibit an annual growth rate (CAGR 2024-2028) of 1.46%, resulting in a projected market volume of US$4.44m by 2028.
It is expected that the number of users in this market will amount to 110.40k users by 2028, with user penetration projected to be 1.2% in 2024 and 1.2% by 2028.
Additionally, the average revenue per user (ARPU) is expected to amount to US$37.95.
In the Bike-sharing market, it is projected that 100% of the total revenue will be generated through online sales by 2028.
It is interesting to note that in global comparison, China is expected to generate the most revenue in this market, with an estimated revenue of US$5,870m in 2024.
Austria's bike-sharing market is growing steadily, with an emphasis on e-bikes and a focus on user convenience through integrations with public transport systems.

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

Customer preferences: Austrian customers have shown a growing interest in bike-sharing services due to their convenience, affordability, and environmental benefits. With an increasing emphasis on sustainability, many individuals are opting for bike-sharing as a greener alternative to traditional modes of transportation. Moreover, the flexibility and ease of access offered by bike-sharing services have appealed to customers seeking a convenient and efficient way to travel short distances within urban areas.

Trends in the market: One of the key trends in the Austrian Bike-sharing market is the integration of technology. Bike-sharing companies are leveraging mobile applications and smart locks to enhance user experience and streamline operations. These technological advancements have made it easier for customers to locate and unlock bikes, as well as track their usage and payment details. Additionally, the integration of electric bikes in bike-sharing fleets has gained popularity, providing customers with an eco-friendly and efficient mode of transportation.

Local special circumstances: Austria's well-developed cycling infrastructure and bike-friendly urban planning have contributed to the growth of the Bike-sharing market. The country's extensive network of bike lanes and dedicated cycling paths makes it an ideal environment for bike-sharing services to thrive. Furthermore, the government's initiatives to promote cycling as a sustainable mode of transportation have created a favorable environment for bike-sharing companies to expand their operations.

Underlying macroeconomic factors: The growth of the Bike-sharing market in Austria is also influenced by underlying macroeconomic factors. Rising urbanization and congestion in major cities have led to increased demand for alternative transportation options, including bike-sharing. Additionally, the growing awareness of the environmental impact of traditional modes of transportation has prompted individuals to seek greener alternatives, further driving the demand for bike-sharing services. The availability of affordable and high-quality bikes, coupled with favorable economic conditions, has also contributed to the market's growth. In conclusion, the Bike-sharing market in Austria has experienced significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience, affordability, and environmental benefits offered by bike-sharing services have resonated with Austrian customers, leading to increased adoption. With the integration of technology and the government's support for cycling infrastructure, the Bike-sharing market in Austria is expected to continue its upward trajectory in the coming years.

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.