Car Sharing Market Outlook By 2024 Top Key Players - Car2Go, Autolib, Cambio CarSharing, Orix Corporation, Lyft, Zipcar, Cityhop, Communauto, DriveNow GmbH & Co. KG, Getaround, CarShare Australia, Carrotshare, Ekar Fz LLC, Hertz Corporation, Hour Car

Market Overview: -

Car sharing market is projected to witness growth due to the benefits experienced by the users such as reduction in costs incurred including the purchase of vehicles, parking, insurance, fuel, maintenance, etc. The users can avoid the fixed costs of ownership by accessing the vehicles on the pay-per-use basis. Car Sharing Market size is set to exceed USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc. The global fleet size and number of members will grow at around 20% CAGR. Reduction in commuting costs is expected to propel the car sharing market growth over the next six years. According to the American Association of Automobiles (AAA), the average annual costs to own and operate vehicles are about USD 8,698.

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Top Key Players:

Some of the key vendors in the car sharing market are Car2Go, Autolib, Cambio CarSharing, Orix Corporation, Lyft, Inc., Zipcar, Inc., Cityhop, Communauto Inc, DriveNow GmbH & Co. KG, Getaround, Inc., CarShare Australia, Carrotshare, Ekar Fz LLC, Hertz Corporation, and Hour Car.

Market share calculation in this report is not done based on companies covered in it. The calculation of car sharing market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

The U.S. carsharing market is projected to grow due to the incentives introduced by the government to promote the use of these services. The states in the country have enacted taxation regulations & legislation and incentives for companies providing these services. For instance, the state of Washington has announced tax credits of up to USD 60 per employee per year to the employers that offer these services to the employees. Various public transit agencies such as Los Angeles County Metropolitan Transportation Authority, Dallas Area Rapid Transit, Tri-County Metropolitan Transportation District of Oregon, Metropolitan Atlanta Rapid Transit Authority, and Massachusetts Bay Transportation Authority have formed partnerships with car sharing companies to locate car sharing vehicles near transit stations. The aim is to create a mobility hub for the commuters, thus propelling the car sharing market growth.

Europe car sharing market is expected to witness a significant growth due to the increasing awareness regarding these services among people and increasing government support. Under Initiativa Car Sharing, the government of Italy provides an extensive support to the players in the industry including incentives for drivers such as free parking in city centers and access to low emission zones. London Municipality, in association with the Transport for London (TfL), has introduced Car Clubs Strategy to support local clubs to penetrate the industry. The local authorities actively promote the use of these services and their benefits to the consumers.

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Partial Chapter of the Table of Content

Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast parameters
1.1.4.1 Definitions
1.1.4.2 Methodology and forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Car sharing industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Business model trends
2.1.4 Application trends
2.1.5 Model trends
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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Car sharing market in business applications is expected to witness growth, due to advantages such as flexibility for employees and reduction in fleet management costs. These services allow employees of the organization access to a large fleet of vehicles and flexibility of booking vehicles as & when needed. These services allow the fleet managers to streamline fleet operations and make an optimal use of vehicles. Furthermore, these services allow the organizations to save more by reducing total cost of mobility by about 30%.

The use of advanced technologies is creating lucrative opportunities for the car sharing market growth. Industries are actively integrating technologically-advanced systems such as vehicle access and reservation systems into their vehicles to gain prominence in the carsharing market. The vehicle access system enables keyless entry whereas the reservation system allows the users to freeze their vehicles as per their time of need. For instance, Zipcar uses a zipcard as a vehicle access technique to unlock the doors of their vehicles and Enterprise CarShare uses a mobile app for reservation system to provide a selection of cars and the duration of usage for the customers. The adoption of such technologies will fuel the car sharing market growth.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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