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Bike-sharing - Malta

Malta

Malta is expected to witness a significant surge in revenue for the Bike-sharing market, reaching US$104.60k in 2024.
The market is projected to grow annually at a rate of 1.95% between 2024 and 2028, resulting in a market volume of US$113.00k by 2028.
By 2028, the number of users in the Bike-sharing market sector is expected to be 5.80k users.
The user penetration rate is expected to increase from 1.1% in 2024 to 1.1% by 2028.
The average revenue per user (ARPU) is expected to be US$18.03.
Furthermore, 100% of the total revenue in the Bike-sharing market sector is expected to come from online sales by 2028.
In comparison with the rest of the world, the highest revenue in this sector is expected to be generated in China, reaching US$5,870m in 2024.
Bike-sharing is gaining popularity in Malta as a sustainable and affordable way for locals and tourists to explore the island's scenic routes.

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.

Market

Region

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Analyst Opinion

The Bike-sharing market in Malta has been experiencing significant growth in recent years, driven by changing customer preferences and the local special circumstances of the country.

Customer preferences: In Malta, there is a growing demand for more sustainable and eco-friendly transportation options. With the increasing awareness of environmental issues and the need to reduce carbon emissions, many customers are opting for bike-sharing as a convenient and green mode of transportation. Additionally, the compact size of the island makes it ideal for bike-sharing, as it allows for easy navigation and shorter travel distances.

Trends in the market: One of the key trends in the Bike-sharing market in Malta is the rise of dockless bike-sharing. Unlike traditional bike-sharing systems 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 mobile app, making it more convenient and flexible. This trend has been embraced by both locals and tourists, as it offers a seamless and hassle-free experience. Another trend in the market is the integration of bike-sharing with other modes of transportation, such as public transportation. Many bike-sharing operators in Malta have partnered with local bus companies to provide a seamless transfer between bikes and buses. This integration allows customers to combine different modes of transportation for a more efficient and convenient journey.

Local special circumstances: The unique geography of Malta, with its small size and dense urban areas, creates a favorable environment for bike-sharing. The island's mild climate and relatively flat terrain make it ideal for cycling, and the compact nature of the cities makes it easy for users to access bike-sharing stations. Additionally, the high population density and heavy traffic congestion in certain areas make bike-sharing an attractive alternative to cars and other forms of transportation.

Underlying macroeconomic factors: The growing popularity of bike-sharing in Malta is also influenced by broader macroeconomic factors. The government has been actively promoting sustainable transportation solutions and investing in cycling infrastructure, including dedicated bike lanes and parking facilities. This support from the government has created a conducive environment for bike-sharing operators to thrive. Furthermore, the increasing number of tourists visiting Malta has also contributed to the growth of the Bike-sharing market. Many tourists are looking for unique and authentic experiences, and bike-sharing offers them the opportunity to explore the island at their own pace and discover hidden gems that may not be accessible by other means of transportation. In conclusion, the Bike-sharing market in Malta is experiencing significant growth due to changing customer preferences, the local special circumstances of the country, and the support of the government. The rise of dockless bike-sharing and the integration with other modes of transportation are key trends in the market. With its compact size and favorable geography, Malta provides an ideal environment for bike-sharing to thrive.

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.