Global Insight: Car Pooling Market 2024 - Share, Size, and Growth Unleashed with a Vision for 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Car Pooling Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The car pooling market size has grown rapidly in recent years. It will grow from $9.64 billion in 2023 to $11.15 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to oil crises impact, rise of environmental awareness, urbanization trends, early ride-sharing initiatives, rising congestion, corporate carpooling programs.

The car pooling market size is expected to see rapid growth in the next few years. It will grow to $17.62 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to expansion of ride-sharing services, integration of autonomous vehicles, demand for sustainable mobility, corporate and workplace initiatives, regulatory support and policies. Major trends in the forecast period include micro-mobility integration, emergence of ride-sharing platforms, demand for sustainable transport, integration of ai and routing algorithms, corporate carpooling solutions.

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Key Market Players:

Major companies operating in the car pooling market report are Uber Technologies Inc., Didi Chuxing Technology Co. Ltd., Karos Inc., Lyft Inc., Grab Holdings Inc., Carma Inc., car2go Europe GmbH, Via Transportation Inc., Waze Carpool, BlaBlaCar Inc., Getaround Inc., Scoop Technologies Inc., Wunder Carpool Inc., Cambio CarSharing Inc., GoMore Aps, Ryde Inc., Liftshare Inc., Nuride Inc., SRide Carpool Services Private Limited, SnappCar BV, Hitch Technologies Inc., Ridejoy Inc., Carpoolworld Inc., Cowlines, JustShareIt Inc., Velocia Inc., Meru Carpool Inc., Zimride Inc., Splitting Fares Inc., ShareRing Inc., ANI Technologies Private Limited, Zify Tech Solutions Pvt. Ltd.

Market Drivers:

Government initiatives to minimise carbon emissions are likely to drive the carpooling market. Major metropolitan cities have traffic congestion with an increase in vehicle density on the roads, increasing carbon emissions. For instance, cities such as New York, Seoul, and Shanghai are among the top 10 cities with the highest carbon footprint. In an attempt to curb emissions, governments and companies are encouraging car-pooling to commute in the cities. In the Paris agreement on climate change, countries have set determined targets for carbon footprint reduction by 2030. For instance, the Delhi government in India has introduced an odd-even scheme to control the traffic density and keep a check on carbon emissions in the city. Corporates such as Amazon and Infosys are also encouraging car-pooling to commute to workplaces to reduce congestion and air pollution. The initiatives to keep a check on carbon emissions thereby contribute to the growth of the carpooling market.

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The car pooling market covered in this report is segmented -

1) By Type: Online Carpooling Platforms, App-based Carpooling
2) By Car Type: Economy, Executive, Luxury
3) By Application: Businesses, Individuals, Schools, Other Applications

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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