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E-Scooter-sharing - Kuwait

Kuwait

The E-Scooter-sharing market in Kuwait is expected to see a significant increase in revenue in the coming years.
It is projected that by 2024, revenue will reach US$144.50k, with an annual growth rate of 13.46% from 2024 to 2028.
This growth will result in a market volume of US$239.50k by 2028.
It is also expected that the number of users will increase to 15.02k users by 2028, with a user penetration rate of 0.2% in 2024 and 0.3% by 2028.
The average revenue per user (ARPU) is expected to be US$14.47.
It is projected that 100% of the total revenue will be generated through online sales by 2028.
In comparison to other countries, United States is expected to generate the most revenue in this market, with US$768,400k in 2024.
E-scooter-sharing is a nascent market in Kuwait, but its potential growth is hindered by the lack of proper infrastructure and regulations.

Key regions: India, Thailand, Malaysia, China, South America

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Analyst Opinion

The E-Scooter-sharing market in Kuwait is experiencing significant growth and development.

Customer preferences: Customers in Kuwait are increasingly opting for e-scooter sharing services due to their convenience, affordability, and environmental benefits. E-scooters provide a quick and efficient mode of transportation, particularly for short distances, allowing customers to avoid traffic congestion and reduce their carbon footprint. Additionally, the ease of renting e-scooters through mobile applications is appealing to tech-savvy customers who value convenience and flexibility in their transportation options.

Trends in the market: One of the key trends in the e-scooter-sharing market in Kuwait is the increasing number of service providers entering the market. As the demand for e-scooter sharing grows, both local and international companies are capitalizing on the opportunity by introducing their services in Kuwait. This increased competition is driving innovation and improvements in the quality of e-scooters, as well as the overall user experience. Another trend in the market is the integration of e-scooter sharing services with existing transportation systems. Many cities in Kuwait are implementing smart city initiatives, which aim to improve the efficiency and sustainability of urban transportation. As part of these initiatives, e-scooter sharing services are being integrated with public transportation networks, allowing customers to seamlessly switch between different modes of transport.

Local special circumstances: The development of the e-scooter-sharing market in Kuwait is also influenced by local regulations and infrastructure. The government of Kuwait has implemented regulations to ensure the safe and responsible use of e-scooters. These regulations include speed limits, designated parking areas, and age restrictions for riders. By enforcing these regulations, the government aims to promote the growth of the e-scooter sharing market while ensuring the safety of riders and pedestrians. Furthermore, the infrastructure in Kuwait is well-suited for e-scooter sharing services. The city has a well-maintained network of roads and bike lanes, making it easy for riders to navigate and access different areas. Additionally, the compact nature of Kuwait City allows for shorter travel distances, making e-scooters an ideal mode of transportation for many customers.

Underlying macroeconomic factors: The growth of the e-scooter-sharing market in Kuwait is also supported by favorable macroeconomic factors. Kuwait has a high smartphone penetration rate, with a large percentage of the population owning smartphones. This widespread smartphone usage facilitates the adoption of e-scooter sharing services, as customers can easily access and use mobile applications to rent e-scooters. Furthermore, Kuwait has a young population with a high disposable income. This demographic is more likely to embrace new technologies and prioritize convenience in their transportation choices. As a result, there is a strong demand for e-scooter sharing services among this demographic, driving the growth of the market. In conclusion, the E-Scooter-sharing market in Kuwait is experiencing significant growth and development due to customer preferences for convenience and sustainability, the increasing number of service providers, the integration with existing transportation systems, local regulations and infrastructure, and favorable macroeconomic factors.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of e-scooter-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.