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By 2024, the Car-sharing market in Europe is expected to generate a revenue of US$5.13bn .
Moreover, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 3.00% between 2024 to 2029, leading to a market volume of US$5.94bn by 2029.
In terms of the number of users, the Car-sharing market is projected to have 21.70m users users in Europe by 2029.
The user penetration rate is expected to increase from 2.2% in 2024 to 2.6% by 2029.
Additionally, the Average Revenue Per User (ARPU) is predicted to be US$273.30 .
By 2029, 96% of the total revenue in the Car-sharing market in Europe is expected to be generated via online sales.
It is noteworthy that United States is anticipated to generate the highest revenue in the Car-sharing market globally, with an estimated revenue of US$3bn in 2024.
Spain's Car-sharing market is seeing a surge in demand due to the country's high population density in urban areas.

Definition:

The Car-sharing market encompasses car-sharing services. Car-sharing service providers own the vehicles that customers can book independently at any time. Customers need to enter into a contract with the service provider in order to be able to book vehicles via a smartphone app, the website of the service provider, or by telephone. The vehicle is usually opened via smartphone or a chip card. Some service providers, however, provide the car key in a key safe at the car-sharing station. Prices are calculated per minute or hour, with the money being debited from the customer's bank account. Peer-to-peer car-sharing is not included in this market. Car-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.

Additional Information:

The main performance indicators of the Car-sharing market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the mentioned market. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Free-floating car sharing bookings
Station-based car sharing bookings
Companies offering a combination of free-floating and station-based car sharing
Services such as Share Now, Sixt Share, or Enterprise CarShare

Peer-to-peer car sharing bookings
Rental car booking
Taxi services
Carpools
Ride hailing services

Car-sharing has become increasingly popular in Europe, with more and more people opting for this convenient and cost-effective mode of transportation. This trend can be attributed to several factors, including changing customer preferences, emerging market trends, and local special circumstances.

Customer preferences: One of the main reasons for the growth of the car-sharing market in Europe is the changing preferences of customers. Many people are now looking for more sustainable and eco-friendly transportation options, and car-sharing provides a viable solution. By sharing a car with others, individuals can reduce their carbon footprint and contribute to a greener environment. Additionally, car-sharing offers flexibility and convenience, allowing people to access a car whenever they need it without the hassle of owning one.

Trends in the market: The car-sharing market in Europe is witnessing several trends that are driving its growth. One such trend is the rise of ride-hailing platforms that offer car-sharing services. These platforms have gained popularity due to their ease of use and affordable pricing. Another trend is the increasing adoption of electric vehicles in car-sharing fleets. With the growing concern for the environment, many car-sharing companies are adding electric vehicles to their fleets, attracting environmentally conscious customers.

Local special circumstances: The car-sharing market in Europe is also influenced by local special circumstances. For example, in densely populated cities with limited parking spaces, car-sharing provides a practical solution for residents who do not want to own a car. Additionally, in countries with high fuel prices and expensive car ownership costs, car-sharing offers a cost-effective alternative for individuals who want to save money.

Underlying macroeconomic factors: Several macroeconomic factors are driving the development of the car-sharing market in Europe. One such factor is the increasing urbanization in the region. As more people move to cities, the demand for convenient transportation options grows, and car-sharing fulfills this need. Furthermore, the sharing economy as a whole is gaining traction in Europe, with people becoming more comfortable with the idea of sharing resources. This cultural shift has contributed to the growth of the car-sharing market. In conclusion, the car-sharing market in Europe is experiencing significant growth due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. As people become more conscious of their environmental impact and seek cost-effective transportation options, car-sharing provides an attractive solution. With the continued development of ride-hailing platforms, the adoption of electric vehicles, and the increasing urbanization in Europe, the car-sharing market is expected to continue its upward trajectory in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car-sharing services.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

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