Carsharing Market Overview, Segment Analysis, Growth Opportunities and Forecast, 2014-2025

Browse report overview with 104 tables and 45 figures spread through 153 pages and detailed TOC on "Carsharing Market by Car (Economy, Executive, Luxury), by Fuel Type (Electric, Fuel-Based), by Business Model (P2P, Round-Trip, One-Way), by Application (Business, Private), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, China, Japan, India, Australia, Brazil, U.A.E.) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2014–2025" at:https://www.psmarketresearch.com/market-analysis/car-sharing-market

Carsharing market is projected to reach $10,846.9 million by 2025, advancing at a CAGR of 11.0% during the forecast period, according to P&S Intelligence.

Favorable government regulations for carsharing services, growing concerns over environmental emissions, increasing demand for more convenient and cost-effective mobility solutions, and advancements in technology are the key factors driving the growth of the market.

Besides, the high upfront and maintenance costs associated with personal cars are encouraging people to switch to shared mobility services. Since owning a car demands a high investment in terms of vehicle cost, fuel cost, parking and maintenance charges, and insurance cost, people are increasingly adopting carsharing services that provide them the flexibility to rent a car, without having the need to own one. The users can make the payment on the basis of the time and distance travelled by them. Besides, additional expenses, such as costs related to fuel, maintenance, insurance, and parking, are borne by the service providers in the carsharing market.

Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/car-sharing-market/report-sample

On the basis of business model, the carsharing market is classified into peer-to-peer (P2P), round-trip, and one-way services. During the forecast period, the market is expected to register the fastest growth in the P2P category in terms of carsharing membership. P2P carsharing is witnessing increased use of private vehicles and filling the gap between traditional carsharing and car rental models. Besides, this business model is rapidly gaining the market share as compared to other models.

With countries around the world emphasizing carsharing model over car ownership to minimize traffic congestion and environmental pollution, various government policies are taking shape and playing a pivotal role in this. Apart from the national governments that are reforming policies to facilitate the implementation of carsharing programs, city and state authorities are taking initiatives to accelerate the adoption of these programs locally, thus driving the growth of the carsharing market. For instance, in November 2018, Mayor of London Sadiq Khan announced his plans to initiate the building of public parking spaces in order to facilitate the parking of public vehicles, with the intention of reducing car ownership in the city.

APAC is expected to continue holding the largest share in the global carsharing market, with an estimated revenue of over 40% in 2018. Of all countries around the world, China continues to remain the largest market for carsharing services. In 2017, several cities across China increased the usage of electric vehicles across carsharing platforms to promote greener environment. With continuous support from the government in the form of policies and incentives, the market in China is expected to demonstrate robust growth in the future as well.

Make Enquiry Before Buying the Report@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=car-sharing-market

Competitive landscape of the market

Some of the major players operating in the carsharing market are Car2Go Ltd., cambio Mobilitätsservice GmbH & Co. KG, Cityhop Ltd., Communauto inc., DriveNow GmbH & Co. KG, Getaround Inc., CarShare Australia Pty. Ltd., Ekar FZ LLC, HOURCAR, Locomute (Pty.) Ltd., Peg City Car Co-op Ltd., Turo Inc., ORIX Auto Corporation, Mobility Cooperative, Modo Cooperative, Lyft Inc., Hertz Global Holdings Inc., and Zipcar Inc.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.