Car Sharing Market – Growth Opportunities and Challenges 2018-2024

North America and Europe are the regions having the highest car sharing market share. This is basically due to quick adoption rates by people in this region. On the other hand, the industry in China is rising at the rate of 40% CAGR and is set to drive the Asia Pacific growth.

Car Sharing Market is set to exceed USD 15 billion by 2024, spurred by the rise in demand for shared mobility. With many companies looking at this as a lucrative market, there have been considerable investments in the space. This business model is a practical solution for vehicle owners to improve their mobility and the regular drive.

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It helps clients and experts to effectively deal with the utilization of parking spots, enhance travel decisions, and decrease harmful environmental impact. Vehicle ownership involves a few fixed costs, for example, protection, deterioration, and support that adds essentially to the aggregate cost of possession. In contrast, clients of shared vehicles pay just when they utilize a vehicle for time/separate services.

Many OEMs are hunting for opportunities to set up an infrastructure and start a mobility car business because they see growth and high ROI in coming years. Increase in electronic gadgets has enabled a great platform for booking vehicles online and can boost the car sharing market in the coming years. This business model has various benefits like saving of parking space, less fuel cost, decrease in harmful gas emissions from vehicles and these benefits can prove to be the key opportunities.

The major drawback for the car sharing market is the high demand during peak periods when vehicles are not available immediately. Such a situation can lead to customer frustration and switching of clients.
Advancements in technology have been a major factor for driving the success of the car sharing market.

Recent development of software, apps, and syncing apps with GPS that enables the user to track and locate the vehicle has added value to the overall system. This has made it easy for users to board a vehicle from their location. The invention of electric vehicles has significantly changed the car sharing market as it has numerous advantages and is environmental friendly.

Browse key industry insights spread across 227 pages with 323 market data tables & 28 figures & charts from the report, “Car Sharing Market Size By Model (P2P, Station-Based, Free-Floating), By Business Model (Round Trip, One Way), By Application (Business, Private), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, Turkey, China, Japan, South Korea, India, Taiwan, Malaysia, Singapore, Australia, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/carsharing-market

One way trip model is expected to grow in the coming years as the user does not have to return the vehicle at the same point from where it was booked.

By application the market has been divided into corporate and private applications. Corporate usage reduces the vehicle of all the employees encouraging them to adopt sharing services.

Some of the players in this business include Car2go, Uber, Zoomcar, Autolib, Mobility Car Sharing etc.

Table of Content (TOC-)
Chapter 3 Car Sharing Industry Insights
3.1 Industry segmentation
3.2 Industry landscape
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Radio Frequency (RF)
3.4.2 GPS based navigation
3.4.3 Autonomous vehicles
3.4.4 Electric vehicles
3.4.4.1 Battery electric car, stock by country, 2012-2015
3.4.4.2 Plug-in hybrid electric cars, stock by country, 2012-2015
3.5 Regulatory landscape
3.5.1 Vehicle Excise and Registration Act 1994 (Section 29)
3.5.2 Environmental Protection Agency
3.5.3 Regulation for Greenhouse Gas Emission from Passenger cars and Trucks
3.5.4 Road Traffic Act 1988
3.5.5 Canada Motor Vehicle Safety Act
3.5.6 Vehicular Safety Standards & Regulations in India
3.5.7 Anti-air-pollution law
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Stringent government regulations regarding emission control in Europe and North America
3.6.1.2 Incentives offered by the government to use car sharing in U.S.
3.6.1.3 Growing adoption of vehicles enabled with advanced technologies
3.6.1.4 Reduction in traveling/commuting cost
3.6.1.5 Increasing investments in car sharing by the automobile manufacturers in Germany
3.6.1.6 Growing adoption of urban mobility due to increasing traffic congestion and pollution in China
3.6.1.7 Lack of proper public transportation infrastructure in India
3.6.1.8 Changing regulations in Malaysia and Singapore
3.6.2 Industry pitfalls and challenges
3.6.2.1 Inadequate transportation infrastructure
3.6.2.2 Fierce competition from similar transport models
3.6.2.3 Lack of flexibility
3.7 Car sharing business model
3.8 Evolution of shared mobility
3.8.1 International car sales outlook
3.9 Consumer insights
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 Competitive landscape, 2016
3.12.1 North America
3.12.2 Europe
3.12.3 Asia Pacific
3.12.4 Latin America
3.12.5 Middle East & Africa
3.12.6 Mergers and acquisitions landscape
3.12.7 Investment landscape
3.12.8 Strategy dashboard
3.13 PESTEL Analysis

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