MENA Shared Mobility Services

MENA Shared Mobility Services

The Shared Mobility Services Market refers to the industry that provides various forms of shared transportation services to individuals, including ride-sharing, car-sharing, bike-sharing, and scooter-sharing. These services are designed to provide an affordable and sustainable transportation option for people who do not own a personal vehicle or prefer not to use one. Shared mobility services are an essential part of the transportation landscape, and they offer many benefits for individuals, communities, and the environment.

The MENA Shared Mobility Services Market was valued at 20.9 billion in 2022 and is expected to grow at a steady rate of around 17.6% in the forecasted period (2023-2030) owing to the increasing urbanization. Furthermore, the market is also driven by rising environmental concerns and the need for more efficient, cost-effective transportation options and government initiatives. For instance, the government of Dubai, located in the United Arab Emirates, plans to introduce 3,500 publicly accessible bicycles throughout the city by 2025, with 350 stations set up to accommodate them.

• Based on the service model, the market is segmented into bike sharing, car sharing, ride hailing, public transit, and microtransit. Among these, the ride hailing segment is leading the maximum share of the market, due to factors like convenience, flexibility, and efficiency, and it is likely to continue to dominate the market in the coming years.
• Based on vehicle type, the market is segmented into two-wheelers, passenger cars, buses & rails, and others. Among them, the passenger cars segment is likely to have a significant impact on the market due to its widespread use, cost-effectiveness, and convenience. Passenger Cars are easy to maneuver in urban areas and have enough space to accommodate passengers and their luggage. For instance, the number of Uber rides in the UAE will reach 33.5 million in 2025, up from 14.5 million in 2020.
• Based on sale mode, the market is bifurcated into online and offline. Among these, the online segment is leading the market because it offers a more convenient and efficient way for users to access and use shared mobility services. Online platforms, such as ride-hailing apps, allow users to easily request a ride, track the driver's location, and pay for the service through a mobile app. This allows users to plan and schedule their trips in advance and to have a more seamless and streamlined experience. For instance, the number of online cab booking users in Saudi Arabia will reach 2.7 million by 2025, up from 1.4 million in 2020.
• For a better understanding of the market adoption of shared mobility services in the MENA, the market is analyzed based on its presence in countries such as the MENA (UAE, Egypt, Saudi Arabia, Kuwait, and the Rest of MENA. Saudi Arabia is anticipated to hold a significant share of the market in the forecasted year as the region is experiencing significant growth in urbanization, which is leading to an increase in the demand for convenient and efficient transportation options. Additionally, the adoption of smartphones in the Saudi Arabia region has been growing rapidly, and this has facilitated the growth of the ride-hailing market. Smartphones enable users to easily book rides, track the location of vehicles, and make payments. Also, the Saudi Arabia government has been supportive of the growth of the ride-hailing market, and has introduced several policies and regulations to promote the adoption of shared mobility services. For example, the government has introduced a regulatory framework for ride-hailing companies, and has offered incentives for the adoption of electric and hybrid vehicles.
• Some of the major players operating in the market include Careem; SWVL; YASSIR; Ekar; THEEB RENT A CAR CO; Uber Technologies Inc.; Bolt Technology OÜ; U DRIVE RENT A CAR L.L.C; Urent; Didi Chuxing Technology Co