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By 2024, the projected revenue for the Car-sharing market worldwide is expected to reach a staggering US$13.44bn.
This revenue is anticipated to show an annual growth rate (CAGR 2024-2029) of 3.26%, resulting in a projected market volume of US$15.78bn by 2029.
The number of users in this market is also expected to rise significantly, reaching 68.19m users by 2029, with a projected user penetration of 0.7% in 2024 and 0.8% by 2029.
Moreover, the average revenue per user (ARPU) is expected to amount to US$235.50.
It is interesting to note that 95% of the total revenue generated in the Car-sharing market by 2029 will be through online sales.
Finally, in a global comparison, United States is expected to generate the most revenue in this market, with a projected revenue of US$3bn in 2024.
Car-sharing is a popular mode of transport in many countries, with services like Zipcar and Car2Go available in select cities worldwide.

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

The Car-sharing market is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances. Car-sharing services have become increasingly popular worldwide as they offer convenient and cost-effective transportation options.

Customer preferences: Customers are increasingly seeking more flexible and affordable transportation options, which is driving the growth of the car-sharing market. Car-sharing allows individuals to access a vehicle when needed without the financial burden of owning a car. This appeals to a wide range of customers, including urban dwellers who may not require a car on a daily basis and individuals who want to reduce their carbon footprint.

Trends in the market: One of the key trends in the car-sharing market is the rise of ride-hailing platforms that offer car-sharing services. These platforms have gained popularity due to their ease of use and the ability to book a car through a smartphone app. This trend has led to increased competition in the market, with traditional car rental companies also entering the car-sharing space to meet customer demand. Another trend is the expansion of car-sharing services in emerging markets. As urbanization continues to increase in these regions, there is a growing need for efficient and sustainable transportation solutions. Car-sharing services provide a viable alternative to private car ownership, which may be prohibitively expensive for many individuals.

Local special circumstances: In certain regions, the car-sharing market is driven by unique local circumstances. For example, in densely populated cities with limited parking spaces, car-sharing services are particularly attractive as they alleviate the parking problem and reduce traffic congestion. Additionally, in countries with strict emission regulations, car-sharing services that offer electric or hybrid vehicles are gaining popularity among environmentally conscious consumers.

Underlying macroeconomic factors: The development of the car-sharing market is also influenced by underlying macroeconomic factors. For instance, the increasing cost of car ownership, including fuel, insurance, and maintenance expenses, has made car-sharing an appealing option for cost-conscious consumers. Additionally, the growing awareness of environmental issues and the need to reduce carbon emissions have contributed to the rise of car-sharing services as a sustainable transportation solution. In conclusion, the Car-sharing market is experiencing growth and development due to changing customer preferences, emerging trends, and local special circumstances. The demand for flexible and affordable transportation options, the rise of ride-hailing platforms, the expansion of car-sharing services in emerging markets, and unique local circumstances are driving the growth of the market. Additionally, underlying macroeconomic factors such as the increasing cost of car ownership and environmental concerns are also contributing to the development of the car-sharing market.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.