Global Carsharing Market Size worth $12bn by 2024

Carsharing Market size is set to reach USD 12 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

Increasing government regulations and support toward the adoption of mobility on-demand services globally will drive the carsharing market growth. Increased government efforts to reduce environmental pollution and carbon emissions are encouraging players to offer their electric car rental services to support government initiatives. Moreover, the government authorities are also supporting the players to successfully operate their businesses in several countries. For instance, in September 2017, the German legislature announced the adoption of the “Carsharing Act” to promote the usage of these rental services. The objective of this act is to give priority to shared vehicles regarding parking fees and space on public roads.

 

Request Sample Buy NowInquiry Before Buying

 

The station-based carsharing market is the most widely adopted service owing to the increased service customization based on the customer’s requirements. The station-based service allows customers to select the vehicle from a wide range of available options. Some of the major advantages of these services include free or guaranteed parking near stations or bus stops, advanced booking, and longer traveling distances. The customers need to drop the vehicle back to the same station after the completion of the ride. However, in the free-floating model type, the customers can complete their trip and leave the vehicle in any public parking place set by the operator. Increased flexibility in vehicle booking and parking in free-floating over the station-based model is encouraging customers to shift toward this model.
 

U.S. car sharing market, by application, 2017 & 2024 (USD Million)
Car Sharing Market

Get more details on this report - Request Free Sample PDF
 

The carsharing market is expected to witness substantial growth over the coming years with the increased adoption of services by B2C sector. With the increased flexibility and convenience in vehicle booking services through the online platform, the customers are depending highly on P2P, station-based, and free-floating carsharing services for commuting shorter distances. Some of the major vehicle sharing apps include BlaBlaCar, Zipcar, Car2go, DriveNow, and Lyft, among others. These mobile-based applications allow customers to book their rides with vehicle selection, price estimation, vehicle tracking, and online payment options. Moreover, the players are offering customers with a wide selection of vehicle models in different price ranges based on customer requirements and affordability. For instance, Turo in the U.S., Canada, Germany, and the UK allows customers to select different vehicle types including trucks, vans, luxury & exotic, minivans, SUVs, and cars.
 

Browse key industry insights spread across 227 pages with 323 market data tables & 28 figures & charts from the report, “Carsharing Market Size By Model (P2P, Station-Based, Free-Floating), By Business Model (Round Trip, One Way), By Application (Business, Private), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, Turkey, China, India, Japan, South Korea, Taiwan, Malaysia, Singapore, Australia, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/carsharing-market

 

The Europe carsharing market is predicted to witness high growth owing to the presence of a large number of service providers and increased government support to promote the adoption of rental services. Ongoing development and adoption of Electric Vehicles (EVs) in the region are encouraging several players to adopt energy-efficient vehicles in their business operations. The EU Council has also implemented several tax benefits & incentives for the adoption of electric or zero-emission cars, which will allow players to reduce their road tax expenses. For instance, in Austria, the incentive scheme for new Battery Electric Vehicle (BEV) and Fuel-cell Electric Vehicle (FCEV) is around USD 3,300. Several players are investing highly to upgrade their vehicles and include low-emission vehicles in their service offerings. For instance, in November 2018, Sixt announced the acquisition of Chargery, a mobile charging service company. This acquisition will allow the company to easily operate its electric cars in Berlin with the use of mobile charging service.
 

Major companies participating in carsharing market are Ekar Fz LLC, Hertz Corporation, Hour Car, Mobility carsharing, Carrotshare, Car2Go, DriveNow GmbH & Co. KG, Getaround, Inc., Communauto Inc., Autolib, CarShare Australia, Orix Corporation, Lyft, Inc, Zipcar, Inc., Regina Car Share Co-operative and Turo Inc., among others. These companies are engaged in partnerships to expand their business presence in different locations. For instance, in March 2019, Hyundai Motor India partnered with Revv, a self-driving carsharing firm to launch its subscription model across six cities in India including Mumbai, Pune, Kolkata, Delhi-NCR, Hyderabad, and Bengaluru. Moreover, the companies are offering their services with a wide range of vehicle options that allow customers to customize their rides.
 

Inquiry Before BuyingRequest Sample
 

The carsharing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
 

Carsharing Market, By Business Model

  • Round trip
  • One-way

Carsharing Market, By Model

  • P2P
  • Station-based
  • Free-floating

Carsharing Market, By Application

  • Business
  • Private

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Turkey
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Malaysia
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X