Strategic Forecast for the Shared Vehicles Industry: Market Outlook 2025-2034

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Shared Vehicles Market Size Growth Forecast: What to Expect by 2025?
The market for shared vehicles has witnessed notable expansion over the past few years. The sector, valued at $159.31 billion in 2024, is projected to reach a value of $182.63 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 14.6%. This surge during the historic period is largely due to factors such as increased urbanization and population density, environmental awareness and sustainability, the affordability of this mode of transport, requirements for last-mile connectivity, and shifts in consumer behavior.

How Will the Shared Vehicles Market Size Evolve and Grow by 2029?
It is projected that the shared vehicles market will experience substantial growth in the subsequent few years, with an expected valuation of $319.05 billion by 2029. This represents a compound annual growth rate (CAGR) of 15.0%. Factors contributing to this growth during the forecast period include government regulations and incentives, the integration of technology and connectivity, increased knowledge of Mobility-as-a-Service (MaaS), alliances and partnerships, and post-pandemic transportation tendencies. The forecast period will be characterized by trends such as autonomous and self-driving shared vehicles, subscription-oriented models, emphasis on safety and cleanliness, regulatory backing and infrastructure growth, and solutions for last-mile connectivity.

View the full report here:
https://www.thebusinessresearchcompany.com/report/shared-vehicles-global-market-report

What Drivers Are Propelling the Growth of Shared Vehicles Market Forward?
The rise of travel and tourism activities is anticipated to fuel the expansion of the shared vehicles market in the future. Travel is the translocation of individuals or things such as planes, ships, trains, and other forms of transport across separate geographical regions. Tourism represents a social, cultural, and economic phenomenon that entails people journeying to countries or locales outside their usual surroundings for personal or work-related motives. Utilizing car sharing for transport and tourism activities has the potential to decrease the purchase of private vehicles, elevate vehicle use, drastically diminish traffic congestion, save energy, and reduce emissions. These are all factors that are contributing to increased demand in the shared vehicles market. For example, the Office for National Statistics, a UK government department, reported that in June 2022, the UK witnessed 3.0 million visits from international tourists, an increase from 2.8 million visits in May 2022. Consequently, the burgeoning activities in travel and tourism are boosting expansion in the shared vehicles market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9023&type=smp

Which Emerging Trends Are Transforming the Shared Vehicles Market in 2025?
Key players in the shared vehicle market are turning their attention to creating high-tech solutions such as car-sharing services to meet a number of essential industry needs. A car-sharing service is a scheme that lets people rent cars for short lengths of time, usually on an hourly or daily basis, instead of owning a car. For example, in January 2024, Vay, a technology firm based in Germany, introduced a ground-breaking teledriving car-sharing service in Las Vegas. This service lets professional drivers operate the cars remotely, eliminating the necessity for users to walk to a car or search for parking, thereby increasing convenience. With pricing as low as $0.30 per minute of driving, Vay is planning to revolutionize traditional taxi services. Moreover, Vay is looking at ways to collaborate with logistics and public transport sectors to further benefit from its teledriving technology.

What Are the Key Segments in the Shared Vehicles Market?
The shared vehiclesmarket covered in this report is segmented -

1) By Service: Car Rental, Bike Sharing, Car Sharing
2) By Vehicle Type: Passenger Cars, LCVs (Light Commercial Vehicles), Micro Mobility
3) By Propulsion: Electric Vehicles, IC Engine Vehicles

Subsegments:
1) By Car Rental: Traditional Car Rental Services, Peer-To-Peer Car Rental Platforms
2) By Bike Sharing: Docked Bike Sharing, Dockless Bike Sharing
3) By Car Sharing: Round-Trip Car Sharing, One-way Car Sharing

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=9023&type=smp

Who Are the Key Players Shaping the Shared Vehicles Market's Competitive Landscape?
Major companies operating in the shared vehicles market include Daimler AG, ANI Technologies Private Limited, Uber Technologies Inc., Enterprise Holdings Inc., Avis Budget Group Inc., The Hertz Corporation, CarShare Ventures BV, Lyft Inc., Sixt SE, Europcar Mobility Group S.A., Grab Holdings Inc., Ola Cabs Private Limited, Turo Inc., Gett Israel Ltd., Wingz Inc., BlaBlaCar France SAS, Getaround Inc., Communauto Inc., GoGet Carshare Inc., Car Next Door Pty Ltd, Curb Mobility LLC, Modo Cooperative, Zoomcar India Private Limited, Hourcar Inc., Co-wheels Car Club, Beijing Xiaoju Technology Co Ltd., Car2Go Europe GmbH, City Car Club Inc., DriveNow GmbH, Mobility Carsharing LLC, RelayRides Inc., Carrot Inc., Carma Mobility BV

What Geographic Markets Are Powering Growth in the Shared Vehicles Market?
Asia-Pacific was the largest region in the shared vehicles market in 2024. Europe is expected to be the fastest-growing region in the global shared vehicles market during the forecast period. The regions covered in the shared vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9023

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.