Super car

Russia’s ride-hailing market could be worth $43bn by 2030

Russia is reported as the fourth-largest contributor to the global ride-on-demand (taxi and carpool) app downloads, making up 11% of the global market (up from 10% in 2019). Worth Roubles 780bn (US$12.6bn), its market also claims a 51% aggregator share, according to urban public transport analysts Intelligent Transport.

The only ride-hailing markets outpacing Russia are Brazil (a 16% market share), India (12%) and China (12%)—all larger than the US market share (8%), according to the Swiss investment bank, UBS. Indeed, in 2019, there were 2.7 billion taxi rides in Russia, up from 5.3 billion year on year (YoY). The Russian market remains concentrated towards the cities, with Moscow and St Petersburg accounting for 40% of rides.

In 2020, the number of users of ride-hailing and taxi services in Russia stood at 31.4 million. The Statista mobility market outlook estimates that by 2025 that figure will rise to 32.2 million users. Similarly, a bold projection by the leading Russian social network VK forecasts that the ride-hailing market will reach Roubles 1.5tn in 2025, rising to Roubles 2.7tn in 2030.

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