As per this study the Global Car Sharing Market was valued USD 5385.52 MN (by revenue) in 2022 and is anticipated to reach USD 8823.67 MN by 2030 with a CAGR of 5.86%.
Car sharing is a type of transportation service that allows individuals to rent vehicles on a short-term basis, typically by the hour or day, rather than owning a vehicle themselves. Car-sharing services typically operate through a mobile application or website that allows users to locate, reserve, and access vehicles on demand. In a car-sharing program, vehicles are owned and maintained by a company or organization that provides the service. Users can reserve a vehicle through the mobile application or website, typically for a specific time and location, and then access the vehicle using a key or code provided by the service. The cost of the rental typically includes insurance, fuel, and maintenance. Car sharing services can take many forms, from traditional car rental companies to peer-to-peer services where individuals rent out their personal vehicles. Some car sharing services offer a variety of vehicle types, from compact cars to trucks and vans, while others specialize in electric or hybrid vehicles. Car sharing offers several benefits, including reduced traffic congestion, reduced environmental impact, and increased mobility options for individuals who do not own a vehicle. Car sharing can also be a cost-effective alternative to car ownership for those who only need a vehicle occasionally or for short periods of time.
Market Dynamics
Growing demand for cost-effective and convenient mobility systems along with the advancement in the transportation system is predominantly fueling the market growth. Increasing usage of car sharing to reduce the number of private cars on road thereby minimizing the pollution level in the environment is another prominent factor fueling the market demand. However, limited internet access across the various underdeveloped region is projected to curb market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of car sharing.
Market Segmentation
The broad car sharing market has been sub-grouped into car, fuel type, business model, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Fuel Type
By Car
By Business Model
By End-User
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for car sharing in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Car Sharing Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the car sharing market includes Cambio Mobilitätsservice GmbH & Co. KG, Car2Go Ltd., Cityhop Ltd., Communauto inc., DriveNow GmbH & Co. KG, Ekar FZ LLC, Getaround Inc., HOURCAR. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.
