Saudi Arabia Bike Sharing Market Synopsis
Saudi Arabia Bike Sharing is Expected to Grow at a Significant Growth Rate, and the Forecast Period is 2023-2030, Considering the Base Year as 2022.
- Cities like Riyadh, Jeddah, and Dammam emerged as hotspots for bike-sharing services, boasting the necessary infrastructure such as dedicated bike lanes and racks, enabling a seamless integration of bikes into the urban landscape. International and local companies, including Mobike, Lime, and local start-ups, have jumped into the fray, engaging in healthy competition to capture a share of the burgeoning market.
- While the bike-sharing market demonstrated strong potential, it was not without its challenges. Companies faced logistical issues concerning bike parking and maintenance, which required efficient solutions to ensure a smooth and user-friendly experience. Additionally, cultural factors could impact the adoption of cycling as a primary mode of transportation, necessitating targeted campaigns to promote the benefits of bike-sharing and dispel any apprehensions.
- Also, the future of bike sharing in Saudi Arabia appeared promising, especially as efforts were underway to integrate these services with existing public transportation networks. This integration provided commuters with a more comprehensive and interconnected mobility solution, enabling them to utilize bikes for the first and last mile of their journeys.
Top Key Players:
Mobike (China), Lime (US), JUMP (US), Hellobike (China), Nextbike (Germany), OBike (Singapore), Byky Stations (Lebanon), MTB (Mobility Technologies Business) (Saudi Arabia), QQA Bike (Saudi Arabia), Tel Bikes (Saudi Arabia), Yelo Bike (Saudi Arabia), Wolf Bike (Saudi Arabia), Mersal Bike (Saudi Arabia), Munjz Bikes (Saudi Arabia), Sarb Bikes (Saudi Arabia), Ora Bike (Saudi Arabia), Easy Bikes (Saudi Arabia), Jahez Bikes (Saudi Arabia), BONITA Bikes (Saudi Arabia), Saudi Bike (Saudi Arabia), and Other Major Players.
The Saudi Arabia Bike Sharing Market Trend Analysis
Increasing Urbanization in Country
- Urbanization has led to a surge in vehicular traffic, resulting in frequent traffic congestion in major cities. Commuters face longer travel times and increased stress while navigating through crowded streets. In such scenarios, bike-sharing emerges as an attractive alternative, offering a faster and more efficient way to reach destinations, particularly during peak hours.
- With limited parking space in urban areas, finding a place to park private vehicles becomes increasingly challenging. Bike-sharing provides a practical solution, as bicycles require significantly less space and can be easily parked in designated bike racks or stations, reducing the burden on limited parking infrastructure.
- Urbanization has also brought about growing environmental concerns due to higher levels of air pollution and carbon emissions resulting from increased vehicle usage. Bike-sharing serves as a sustainable and eco-friendly mode of transportation, aligning with the increasing environmental awareness of urban residents who seek greener alternatives to reduce their carbon footprint.
- Furthermore, bike-sharing fills a crucial gap in urban transportation by addressing the first and last-mile connectivity challenge. Public transportation systems in rapidly expanding urban areas may not cover every corner of the city. Bike-sharing complements existing public transit options, offering a convenient way for commuters to reach their final destinations from transit stations or vice versa.
The Development of Smart cities in Saudi Arabia
- The development of smart cities in Saudi Arabia offers a plethora of opportunities, impacting various sectors and industries. A smart city leverages advanced information and communication technologies (ICT) to enhance the quality of life for its residents, improve operational efficiency, and promote sustainable development.
- As smart cities in Saudi Arabia embrace innovative transportation solutions, the opportunity for bike-sharing programs to integrate into the overall urban mobility ecosystem becomes more apparent. Advanced transportation systems, including intelligent traffic management and real-time public transit information, create an environment that facilitates the seamless inclusion of bike-sharing services.
- The integration of bike-sharing services with the smart city infrastructure is fueled by data-driven decision-making. Smart cities rely on the collection and analysis of real-time data from various sources, such as IoT devices and sensor networks. For bike-sharing companies, this presents an opportunity to access valuable insights into user preferences, popular routes, and peak usage times
Segmentation Analysis of The Saudi Arabia Bike Sharing Market
Bike Sharing market is segmented into the Bike Type, Sharing System, and User Type. By Bike Type, E-bike segment is Anticipated to Dominate the Market Over the Forecast Period.
- The segmentation analysis of the Saudi Arabia bike-sharing market by bike type indicates that the E-bike segment is poised to dominate the market over the forecast period. E-bikes, equipped with an electric motor to assist riders' pedaling efforts, have witnessed a significant surge in popularity not only globally but also within Saudi Arabia.
- One of the primary factors contributing to the E-bike segment's prominence is the rising popularity of E-bikes among various demographics. The electric assistance offered by E-bikes makes cycling more accessible and appealing to a wider range of users, including those who may have physical limitations or prefer a less strenuous riding experience. As a result, E-bikes are attracting a diverse group of riders, including commuters, tourists, and individuals seeking a comfortable and convenient transportation option.
- E-bikes offer enhanced convenience and comfort compared to traditional bicycles. The electric motor reduces the effort required to pedal, allowing riders to cover longer distances and navigate challenging terrains with ease.
Country Analysis of The Saudi Arabia Bike Sharing Market
- Saudi Arabia's large population, particularly concentrated in urban centers, presents a significant market potential for bike-sharing services. Cities like Riyadh, Jeddah, and Dammam, with their high population densities, offer an ideal environment for bike-sharing companies to thrive. The increasing urbanization in the country has led to a demand for efficient and eco-friendly transportation options, making bike-sharing a compelling choice for short-distance travel.
- Saudi Arabia is experiencing rapid urbanization, with a significant influx of people moving to cities in search of better opportunities. As a result, urban areas face traffic congestion and increasing transportation challenges. Bike-sharing services address these issues by offering a practical and convenient means of commuting within busy urban centers.
- With growing environmental awareness, there is an increasing emphasis on sustainable and green transportation solutions. Bike-sharing programs, being emission-free and eco-friendly, resonate with the country's commitment to reducing carbon footprints and promoting environmentally conscious practices.
COVID-19 Impact Analysis on Saudi Arabia Bike Sharing Market
- The pandemic presented operational challenges for bike-sharing companies. Some providers may have temporarily suspended their services or reduced the number of available bikes to comply with government restrictions or respond to reduced demand. This led to potential disruptions in service availability for users.
- With international travel restrictions and decreased tourism activity, the number of tourists exploring Saudi Arabia likely declined. Bike-sharing services, which often cater to tourists looking to explore cities and tourist attractions, could have been adversely affected during this period.
- The pandemic prompted a shift in user behavior as people sought alternative transportation options to avoid crowded public transport. While bike-sharing experienced reduced demand in some areas, it may have seen increased interest in locations where people preferred individual mobility with minimal contact with others.
- As restrictions eased and vaccination efforts advanced, there may have been a gradual recovery in bike-sharing demand. Many countries witnessed increased interest in cycling and bike-sharing as people sought outdoor activities that allowed for physical distancing.
The Revenue of the Bike-sharing Market in Saudi Arabia demonstrated a steady growth trend from 2018 to 2022, with soft growth even in the COVID-19 year, 2020. Revenue increased from 23.64 million USD in 2018 to 26.07 million USD in 2019, a growth rate of approximately 10.3%. Despite the pandemic, the market grew to 27.59 million USD in 2020 (5.8% growth). In 2021, Revenue jumped to 31.29 million USD (13.4% growth). Projected Revenue for 2022 is 34.19 million USD, reflecting the market's potential for expansion in Saudi Arabia, driven by urbanization, environmental awareness, and government support for sustainable mobility.
Top Key Players Covered in The Saudi Arabia Bike Sharing Market
- Mobike (China)
- Lime (US)
- JUMP (US)
- Hellobike (China)
- Nextbike (Germany)
- OBike (Singapore)
- Byky Stations (Lebanon)
- MTB (Mobility Technologies Business) (Saudi Arabia)
- QQA Bike (Saudi Arabia)
- Tel Bikes (Saudi Arabia)
- Yelo Bike (Saudi Arabia)
- Wolf Bike (Saudi Arabia)
- Mersal Bike (Saudi Arabia)
- Munjz Bikes (Saudi Arabia)
- Sarb Bikes (Saudi Arabia)
- Ora Bike (Saudi Arabia)
- Easy Bikes (Saudi Arabia)
- Jahez Bikes (Saudi Arabia)
- BONITA Bikes (Saudi Arabia)
- Saudi Bike (Saudi Arabia), and Other Major Players.
Key Industry Developments in the Saudi Arabia Bike Sharing Market
In September 2021, Lime announced the continuation of their ongoing partnership with N26, offering riders two free months of Lime Prime, their subscription service designed to enhance the micromobility experience for commuters and everyday riders. The offer was made available to EMEA-based* N26 cardholders, allowing them to unlock the two free months of Lime Prime by connecting their N26 account to the Lime app, setting it as their default payment option, and then signing up for Lime Prime.
Saudi Arabia Bike Sharing Market
2016 to 2021
Market Size in 2022:
USD XXX Bn.
Forecast Period 2023-30 CAGR:
Market Size in 2030:
USD XXX Bn.
By Bike Type
By Sharing System
By User Type
- Tourists and Visitors
- Regular Commuters