Car Sharing Market (By Model: P2P, Station Based, Free Floating; By Business Model: Round Trip, One Way; By Application: Business, Private) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global car sharing market is anticipated to grow at a CAGR of around 22.3% during the forecast period 2020 to 2027 and to reach around US$ 12.4 Bn by 2027.

Market Dynamics

Government of developed and developing countries is focused on lowering the air pollution, its approach towards providing smart transportation solution consumer, coupled with adoption of urban mobility services are major factor expected to drive the growth of global market. Government is imposing various regulations related to pollution control. With the rising congestion and crowed transportation system is resulting in consumer’s inclination towards car sharing. Government of developed country is providing various incentives on car sharing.

Car sharing tend to be a better solution to the growing traffic problems, along with other advantages such as no cost of fuel and parking, less congestion and shorter journeys due to fewer cars being on the road, etc. this is another factor expected to further support the growth of target market.

Major payer approach towards strategic business merger and acquisitions in order to increase the customer base and increase the profit ratio which is another important factor expected to further augment the growth of target market.

• In 2019, Uber acquired Careem a Dubai’s ride-hailing startup and has 33 million customers and 1.2 million drivers, and operates in more than 100 cities across 14 countries from Morocco to Pakistan. This acquisition will help the company to increase its presence and increase the customer base.
• In 2019, Getaround a peer-to-peer car-sharing startup acquired Drivy, a car-sharing startup that operates in 170 European cities. This is expected to help the company to expand the customer base and increase the profit ratio.

However, factors such as lack of developed infrastructure in developing countries and resistance from traditional transport services are expected to hamper the growth of the global car sharing market. In addition, varying transport policies of different countries is another factor expected to further challenge the growth of the target market.

High investment by major players in start-ups in order to enhance the business aspects and increase the profit ratio which are factors responsible to create new opportunities for players operating in the target market over the forecast period..

Car Sharing Market Segment Analysis, 2019

The global car sharing market is segmented in to model, business model, and application, the model segment is further bifurcated into P2P, station based, and free floating. Among application the private segment is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to stringent government regulation related to pollution. In addition, major players focus on increasing the business presence of enhance the customer base is another factor expected to further support the growth of regional market.

Asia Pacific is expected to witness faster growth in the near future owing to rising passenger vehicle sale in developing countries and government focus on lowering the pollution. In addition, major player’s inclination towards emerging economies through investing in start-ups is another factor expected to further support growth of target market in this region.

Competitive Landscape

The market is highly competitive due to presence of large number of players. In addition, new product launches and high investment for infrastructure development is expected to further increase the competition in the market.

Report coverage

The market research study on “Car Sharing Market (Model: P2P, Station Based, and Free Floating; Business Model: Round Trip and One Way; Application: Business and Private) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global car sharing market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global car sharing market segment by solution, service, deployment, application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global car sharing market size and segment markets by solution, service, deployment, application and geography along with the information on companies operating in the market. The car sharing market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Autolib, Car2Go, Cambio CarSharing, Cityhop, Communauto Inc, DriveNow GmbH & Co. KG, Getaround, Inc., CarShare Australia, Carrotshare, Ekar Fz LLC, Hertz Corporation, Hour Car, Locomute (Pty) Ltd, Lyft, Inc, Mobility carsharing, Modo Co-operative, and Orix Corporation.

Market Segmentation

Market By Model

• P2P
• Station Based
• Free Floating

Market By Business Model

• Round Trip
• One Way

Market By Application

• Business
• Private

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa