Carsharing Market by Business Model, Vehicle Type, Application

List of Tables

[188 Pages Report] The Carsharing Market size was estimated at USD 4.28 billion in 2023 and expected to reach USD 5.04 billion in 2024, at a CAGR 18.37% to reach USD 13.94 billion by 2030.

Carsharing is a car rental model where individuals rent cars for short periods, often by the hour or minute, offering a cost-effective and convenient alternative to car ownership for urban residents. This model significantly reduces the need for private vehicle ownership, thus contributing to lower parking requirements, reduced traffic congestion, and a decrease in overall automotive emissions. The major factors contributing to the expansion of carsharing usage include increasing urbanization, advancements in mobile technology, and a shift in consumer behavior favoring access over ownership. However, carsharing faces challenges such as operational issues, including car maintenance and parking, competition from other mobility services, and concerns over hygiene and safety issues. These challenges can be addressed through strategic partnerships with local governments for parking spaces, rigorous maintenance protocols, and leveraging technology for better user experience and service reliability. Integration of carsharing platforms with other modes of public transport, expansion into suburban areas, and adoption of electric vehicles to appeal to environmentally conscious consumers further bolster its position as a key component of the future urban mobility landscape.

KEY MARKET STATISTICS
Base Year [2023]	USD 4.28 billion
Estimated Year [2024]	USD 5.04 billion
Forecast Year [2030]	USD 13.94 billion
CAGR (%)	18.37%

Business Model: Rising popularity of free-floating carsharing business model

The free-floating business model allows users to pick up and drop off vehicles in any legal parking space within a designated operational area. This model offers great flexibility and is preferred for short, spontaneous trips in urban areas. Users who prefer convenience and spontaneity opt for this model, and it suits those living in densely populated cities where parking and traffic congestion are significant issues. The peer-to-peer (P2P) model enables car owners to rent out their vehicles to others when they are not using them. This model capitalizes on underutilized personal vehicles and is favored for its economic benefits to the car owners and affordability to the renters. This model appeals to individuals looking to earn income from their underused vehicles and those seeking cost-effective rental options. Station-based car sharing requires users to pick up and return the vehicle to the same designated station, making it ideal for planned trips where the user has a clear return timeline. This model is often used by people for daily commutes or specific errand runs. It is preferred by users who plan their trips in advance and require a vehicle for a longer duration.

Application: Enhanced focus on the convenience of carsharing by individual and private users

The business segment of the carsharing market caters to organizations ranging from small enterprises to large corporations. Businesses typically seek carsharing services to reduce overhead costs associated with maintaining a fleet of vehicles, providing employees with flexible transportation options for business trips, client meetings, and commuting. The convenience of booking, accessing, and managing payments through digital platforms adds to the appeal for corporate users. The private segment encompasses individual users seeking flexible and convenient mobility solutions. This category includes people who opt for carsharing due to environmental concerns, the high costs of vehicle ownership, or as a supplementary mode of transportation that complements public transit options. Private users value cost-effectiveness, ease of access, and the environmental benefits of carsharing.

Regional Insights

In the Americas, carsharing has experienced robust growth fueled by urbanization and a strong emphasis on sustainable transportation. Established companies and local startups dominate the market, focusing on technological advancements and extensive fleet diversification. The APAC region showcases a surge in carsharing adoption due to escalating urban traffic congestion and governmental support for eco-friendly transportation solutions. APAC's carsharing market is characterized by a blend of international enterprises and burgeoning local companies that prioritize electric vehicles (EV) to align with the regional carbon neutrality goals. EMEA depicts a mature market with a high penetration of carsharing services, particularly in European cities known for their environmental initiatives and strict vehicle emissions standards. The region is home to a mix of established carsharing operators and innovative local players that experiment with hybrid and electric fleets, catering to a highly environmentally-conscious consumer base. Regulation, particularly in the European Union, plays a critical role in shaping the carsharing landscape, promoting a shared and circular economy model.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Carsharing Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Carsharing Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Carsharing Market, highlighting leading vendors and their innovative profiles. These include cambio Mobilitatsservice GmbH & Co. KG, Carshare Australia Pty Ltd, Cityhop Ltd., Communauto Inc., DriveNow by BMW Group, Ekar FZ LLC, Enterprise Holdings, Inc., Evo by B.C.A.A. Holdings Ltd., Hertz Corporation, Karshare, Lime by Neutron Holdings, Inc., Lyft Inc., MoboKey, Orix Corporation, Peg City Car Co op, Poppy Mobility SA, Regina Car Share Co-operative, Ridecell, Inc., SHARE NOW GmbH, Sixt Rent a Car, LLC, SnappCar, Socar Mobility Malaysia Sdn. Bhd., Turo Inc., Vulog, and Zipcar, Inc..

Market Segmentation & Coverage

This research report categorizes the Carsharing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Business Model
- Free-Floating
- Peer-to-Peer
- Station-Based

Vehicle Type
- Economy Cars
- Electric Vehicles

Application
- Business
- Private

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Carsharing Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Carsharing Market?

3. What are the technology trends and regulatory frameworks in the Carsharing Market?

4. What is the market share of the leading vendors in the Carsharing Market?

5. Which modes and strategic moves are suitable for entering the Carsharing Market?

Product Code: MRR-8E373E9E2065

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Environmental awareness and need for sustainable riding practices
  - 5.1.1.2. Government policies supporting shared mobility worldwide
- 5.1.2. Restraints
  - 5.1.2.1. Technical issues and implementation difficulties
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of advanced features in carsharing solutions
  - 5.1.3.2. Emerging startup ecosystem and strategic partnerships of route extension
- 5.1.4. Challenges
  - 5.1.4.1. Safety concerns associated with carsharing platforms
5.2. Market Segmentation Analysis
- 5.2.1. Business Model: Rising popularity of free-floating carsharing business model
- 5.2.2. Application: Enhanced focus on the convenience of carsharing by individual and private users
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Carsharing Market, by Business Model

6.1. Introduction
6.2. Free-Floating
6.3. Peer-to-Peer
6.4. Station-Based

7. Carsharing Market, by Vehicle Type

7.1. Introduction
7.2. Economy Cars
7.3. Electric Vehicles

8. Carsharing Market, by Application

8.1. Introduction
8.2. Business
8.3. Private

9. Americas Carsharing Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Carsharing Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Carsharing Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Zoomcar Partners with CARS24 to Redefine Car Hosting Landscape
- 12.3.2. New World Announces EV Car-Sharing Business
- 12.3.3. Getaround Raises USD 20 Million For Carsharing
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio