Car Sharing Market : Top Players – Zipcar, Inc., Turo, Inc., Orix Corporation, Regina Car Share Co-operative, CarShare Australia, Lyft, Inc., Communauto Inc., Car2Go, Autolib

How will the growing demand for urban mobility solutions augment car sharing market size through 2026?

The increasing popularity of urban mobility solutions to deal with problem of traffic congestion is anticipated to be the key factor driving the car sharing market growth. The rising inclination toward shared ownership of vehicles in order to restrict the effects of harmful carbon emissions would further instigate the overall market development over the forthcoming timeframe.
On that note, Global Market Insights Inc., estimates the global car sharing market to surpass a valuation of $9 billion by 2026.

How will the station-based car sharing industry fare in the global car sharing market landscape?

With respect to the model segment, the station-based car sharing industry is projected to observe steady growth patterns due to increased customization of services as well as availability of options to select from a number of vehicles.

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Station-based car sharing services are compelling consumers to park their vehicles at the same station from where they picked it up. Due to this, a customer gets several benefits like surged accessibility along with designated free of cost parking spots as well as advanced booking options.

This service is feasible since it enables customers to rent a vehicle for long-distance travel with a choice to pay rent on an hourly basis. This type of car sharing service helps to save costs on vehicle reallocation which is incurred by one-way car sharing service providers thereby proliferating the market size.

Why is private car sharing application observing substantial growth in the global car sharing industry?

The increasing adoption of electric vehicles assisted by ongoing investments in the charging infrastructure is expanding the private car sharing application. Citing an instance, in July 2019, Electrify America, the energy company announced its plans to spend $2 billion in ZEV (Zero Emission Vehicle) infrastructure. In addition, private car sharing service providers are shifting towards a free-floating model to enable the customers to book their ride as per their convenience which is increasing the number of people using these services.

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How would North America car sharing service market perform in the global car sharing service market?

A growing number of car sharing service providers throughout the region is slated to be the key factor propelling North America car sharing market outlook. The regional growth is primarily led by the U.S. Along with an increasing number of car sharing services, consumer inclination towards having new mobility solutions and favorable regulatory policies are few other factors complementing the overall industry share.

Taking December 2019 for instance, Avail, a car sharing service started in Utah, in the U.S. This car sharing service enables the users to share rides to as well as from the airport along with included facilities like GPS-enabled telematics system to track the vehicle as well as free parking.

The competitive landscape of car sharing industry is inclusive of players like Hertz Corporation, Hour Car, Carrotshare, Car2Go, DriveNow GmbH & Co. KG, Getaround, Inc., Communauto Inc., Autolib, Car2Go, CarShare Australia, Orix Corporation, Lyft, Inc., Zipcar, Inc., Regina Car Share Co-operative, and Turo, Inc. among others.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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.

This release was published on openPR.