Car Sharing Market

Car Sharing Market is valued at USD 5429.5 Million in 2018 and expected to reach USD 10480.1 Million by 2025 with CAGR of 9.85% over the forecast period.

Car Sharing Market is segmented in business model, model application and region & country level. On the basis of business model, the market is segmented into round trip and one-way.  By model, the market is segmented into p2p, station-based and free-floating. By application, the market is segmented into business and private.

Market Analysis of Car Sharing-

Car sharing stands in developing class of “mobility deals”.  Car sharing is no diverse in the case of transportation services. This service is getting popular among the consumer who uses public transport for everyday travel, passenger cars for shopping, faster journey to locations less accessible by public transit. Car sharing provides a comfort, flexibility and aversion to long-term commitments mean that consumer do not need (or want) their own car. These services includes the membership and plans for anyone who needs a vehicle but does not want to own one. It is an alternative option if user live in the city, or if user do not need to drive long distances on a daily basis, and want to cut down on transportation costs.

The regions covered in this Car Sharing Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Car Sharing is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players–

Some major key players for global Car sharing market are:

• Cambio Mobilitätsservice GmbH & Co. KG
• Car2Go Ltd.
• CarShare Australia Pty. Ltd.
• Cityhop Ltd.
• DriveNow GmbH & Co. KG
• Ekar FZ LLC
• Getaround Inc.
• Hertz Global Holdings Inc.
• HOURCAR
• Locomute (Pty.) Ltd.
• Lyft Inc.
• Mobility Cooperative
• Modo Cooperative
• ORIX Auto Corporation
• Peg City Car Co-op Ltd.
• Turo Inc.
• Zipcar Inc.
• Others

Market Dynamics –

Car sharing market is growing rapidly due to the benefits experienced by the consumer like fall in costs as well as the purchase of vehicles, parking, insurance, fuel, maintenance, etc. Additionally, the users are able to forget the fixed costs of ownership by accessing the vehicles on the pay-per-use basis.  Furthermore, increasing initiatives by the government because of the benefits of these models like more reduction in traffic and pollution are also supplementing the growth of global car sharing market. However, growing competition from other mobility services like ride-hailing, and car rental, may hamper restrains the market growth. In spite of that, integration of advanced technologies into the cars to provide enhanced services quality can provide the opportunity for the market growth.

Asia Pacific is Expected to Dominate the Global Car Sharing Market

Asia Pacific is  is expected to capture the largest market share in the global car sharing market due to government support and increasing need in various countries such as India, China And others drives the market growth. For instance according to sutp.org. In 2017 in china there are 30,000 vehicles, located mainly in Tier 1 and 2 cities. And in 2018, there are more than 40 car-sharing operators with 40,000 vehicles in China, mostly in Tier 1 and 2 cities. In Addition in that the More than 90 percent of them are Chinese players, which are supported by government like subsidies or license plate acquisition.

Key Benefits for Market Report–

• Global market report covers in depth historical and forecast analysis.
• Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global market report helps to identify opportunities in market place.
• Global market report covers extensive analysis of emerging trends and competitive landscape.

Market Segmentation:–

By Model

• Free-Floating Car Sharing
• P2P (peer-to-peer) Car Sharing
• Station-Based Car Sharing

By Business Model

• One Way
• Round Trips

By Vehicle Class

• Economy Class
• Mid-Range Class
• Executive Class
• Luxury Class

By Fuel Type

• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Internal Combustion Engine Vehicles

By Application

• Private
• Business

By Regional & Country Analysis:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA