Press release
Global Shared Mobility Market: Exponential Growth, Detailed Insights, and Forecast 2024-2029
Shared Mobility Market Outlook
What Is The Projected Market Size Of The Global Shared Mobility Market And Its Growth Rate?
•From $343.24 billion in 2024, the shared mobility market is forecasted to grow to $383.92 billion in 2025, representing a compound annual growth rate (CAGR) of 11.9%.
•The market will further skyrocket to $631.76 billion in 2029 at a staggering CAGR of 13.3%.
•Factors such as strict environmental regulations, increased demand for ride-hailing services and higher fuel prices will stimulate market growth.
What Is Driving The Growth In The Shared Mobility Market?
Escalating fuel prices are anticipated to cast a major impact on the shared mobility market's growth projection in the forecast period. As fuel prices climb, shared mobility companies discover new opportunities due to the amplified demand for vehicle fuel and supply chain complications arising from events like Russia's intervention in Ukraine. Data from the Bureau of Transportation Statistics and the United States Department of Transportation indicates a 49% increase in regular motor gasoline prices and a 55% rise in diesel prices in the USA from Jan-June 2022. Similarly, in Singapore, average petrol prices in the initial five months of 2022 registered an increase of about 49.95% over the same period last year. Thus, the surge in fuel prices propels the shared mobility market's growth in the forecast period.
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Who Are the Key Players Driving Shared Mobility Market Growth?
•Didi Chuxing Technology Co.
•Uber Technologies Inc.
•Avis Budget Group
•Lyft Inc.
•The Hertz Corporation
•Grab Taxi Holdings Pvt. Ltd.
•Deutsche Bahn Connect GmbH
•BlaBlaCar
•ANI Technologies Private Limited
•Cao Cao Mobility
•and many more.
What Are The Key Trends In The Shared Mobility Market?
•Focus on innovative vehicle fleet-sharing platforms.
•Adoption of autonomous vehicle technology.
•Technological advancements and upgradation of mobility sharing applications.
•Strategic partnerships and collaborations.
What Are The Segments Of The Global Shared Mobility Market?
•Service: Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing, Other Services.
•Mobility Vehicle: Cars, Two-wheelers, Other Mobility Vehicles.
•Business Model: P2P, B2B, B2C.
Which Region Leads The Shared Mobility Market?
Asia-Pacific emerged as the largest region in the 2024 shared mobility market. Furthermore, it is projected to retain its dominance as the fastest-growing region in the foreseeable future. The regions examined in the shared mobility market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Shared Mobility Market Global Market Report?
- Market Size Analysis: Analyze the Shared Mobility Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Shared Mobility Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Shared Mobility Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Shared Mobility Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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