According to IMARC Group’s latest report, titled “Car Sharing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global car sharing market exhibited strong growth during 2015-2020. Car sharing stands for a car rental service that enables individuals to hire cars for a short period of time. It is an affordable and convenient mobility service, supported by simplified access for consumers to shared mobility platforms. Car sharing facilitates community transit, improves urban land usage and development, decreases personal car ownership, aids in achieving goals for a cleaner environment, and allows affordable access to vehicles.
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The continuously expanding vehicle fleet and the rising environmental concerns towards the increasing air pollution levels are currently catalyzing the market for car sharing. Moreover, the governments of several nations are undertaking numerous initiatives to reduce the ownership of private vehicles to curb carbon emissions. Apart from this, the increasing prevalence of peer-to-peer (P2P) lending services, which allows the private car owners to rent their cars, is also augmenting the market growth. Furthermore, multiple organizations are using corporate car-sharing services to help employees be punctual, reduce the company’s fleet management costs, and minimize the requirement for large parking spaces. Besides this, the growing penetration of the Internet-of-Things (IoT)-based devices and the increasing numbers of mobile applications for ridesharing are projected to further drive the market growth over the forecast period. Looking forward, IMARC Group expects the market to grow at a CAGR of around 16% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Autolib (Bollore)
- Cambio Mobilitätsservice GmbH & Co. KG
- Car2Go Ltd.
- CarShare Australia Pty. Ltd.
- Cityhop Ltd.
- Communauto Inc.
- DriveNow GmbH & Co. KG (BMW AG)
- Ekar FZ LLC
- Getaround Inc.
- HOURCAR
- Locomute (Pty.) Ltd.
- Lyft Inc.
- Mobility Cooperative
- Modo Co-operative
- Turo Inc. (ICA)
- Zipcar Inc. (Avis Budget Group).
Market Segmentation:
Breakup by Car Type:
- Economy
- Executive
- Luxury
- Others
Breakup by Business Model:
- P2P
- Station Based
- Free-Floating
Breakup by Application:
- Business
- Private
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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