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Bike-sharing - Malaysia

Malaysia

By 2024, the Bike-sharing market in Malaysia is projected to reach a revenue of US$26.55m .
The market is expected to exhibit an annual growth rate of 9.08% between 2024 and 2028, resulting in a projected market volume of US$37.59m by 2028.
The number of users in this market is expected to reach 1.78m users by 2028, while user penetration is projected to be 4.5% in 2024 and 4.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$17.08 .
By 2028, 98% of the total revenue from the Bike-sharing market in Malaysia will be generated through online sales.
In global comparison, China is expected to generate the most revenue in this market, with a revenue of US$5,870m in 2024.
The bike-sharing market in Malaysia is experiencing growth due to the government's initiatives to promote sustainable transportation.

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 Malaysia has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Malaysia, there is a growing demand for alternative transportation options due to increasing traffic congestion and environmental concerns. Bike-sharing provides a convenient and eco-friendly mode of transportation for short trips within cities. Additionally, the younger generation in Malaysia is increasingly embracing a more active and healthy lifestyle, which further contributes to the popularity of bike-sharing.

Trends in the market: One of the key trends in the Malaysian Bike-sharing market is the expansion of dockless bike-sharing services. Unlike traditional docked systems, dockless bike-sharing allows users to pick up and drop off bikes anywhere within a designated service area, using a mobile app. This flexibility and convenience have made dockless bike-sharing services highly popular among urban commuters in Malaysia. Another trend in the market is the integration of bike-sharing with other modes of transportation. Many bike-sharing operators in Malaysia have partnered with public transportation companies to provide last-mile connectivity. This allows commuters to easily switch between bikes and trains or buses, making their journey more seamless and efficient.

Local special circumstances: Malaysia's warm climate and relatively flat terrain make it well-suited for bike-sharing. Unlike in some other countries, weather conditions in Malaysia are generally favorable for outdoor activities, including cycling. This encourages more people to use bike-sharing services for their daily commute or leisure activities. Furthermore, the Malaysian government has been supportive of bike-sharing initiatives as part of its efforts to promote sustainable transportation. The government has implemented policies and regulations to facilitate the growth of bike-sharing services, such as providing designated bike lanes and promoting bike-friendly infrastructure in cities.

Underlying macroeconomic factors: The growing popularity of bike-sharing in Malaysia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. This has allowed more people to afford the cost of bike-sharing services and contribute to the market's growth. In conclusion, the Bike-sharing market in Malaysia has seen significant growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for alternative transportation options, the convenience of dockless bike-sharing, and the integration with other modes of transportation have all contributed to the market's expansion. With the government's support and favorable weather conditions, bike-sharing is expected to continue flourishing in Malaysia.

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.