Car Sharing Market to Reach US$ 51.7 Billion by 2030, Driven by Growing Urbanization and Demand for Convenient and Affordable Transportation | Market Report by RationalStat

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Car Sharing Market Booming as Consumers Seek More Flexible and Sustainable Transportation Options

Wilmington, Delaware, Nov. 02, 2023 (GLOBE NEWSWIRE) — According to RationalStat’smost recent industry analysis, the Global Car Sharing Market value is estimated at US$ 18.5 billion in 2023 and is expected to rise at a strong CAGR of over 15.8% over the forecast period of 2023-2030.


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Market Definition, Market Scope, and Report Overview                                                              

Car sharing is a type of mobility service in which people can borrow a vehicle for a short period, usually by the hour or minute. Car sharing services provide users with access to a car without the responsibilities and costs of ownership, making it a handy and cost-effective alternative to traditional automobile ownership. Users can borrow a car as needed, generally through a smartphone app, and return it to a predetermined spot when finished.

Car sharing allows customers to borrow a vehicle whenever they need it, without the long-term commitments of ownership. Furthermore, the availability of car sharing services 24 hours a day, seven days a week, and the ability to pick up and drop off automobiles at convenient locations contribute to its appeal.

  • According to a deep-dive market assessment by RationalStat, the global Car Sharing market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
  • Market intelligence for the global Car Sharing market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
  • In addition, the long-term sector and products/services 10-year outlook and its implications on the global Car Sharing market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Car Sharing Market: Segmental and Market Share Analysis

  • On the basis of type, in 2022, the free floating car sharing segment is expected to be worth more than US$1 billion. It is a completely self-service automobile sharing concept with no limitations.

Report Synopsis

Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 18.5 billion
Market Size Forecast US$ 51.7 billion
Growth Rate 15.8%
Dominant Segment Free floating car sharing
Dominant Region Europe
Key Market Drivers
  • Stringent government regulations for reducing emission
  • Growing adoption of vehicles enabled with advanced technology
Companies Profiled
  • Hertz Corporation
  • DriveNow GmbH & Co. KG
  • Communauto Inc.
  • Car2Go
  • CarShare Australia
  • Orix Corporation
  • Lyft Inc.
  • Zipcar Inc
  • Regina Car Share Co-operative
  • Turo Inc.

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global car sharing market include,

  • In April 2022, Ekar, a Middle Eastern mobility startup, launched its contactless peer-to-peer car-sharing service in Saudi Arabia, with the entire vehicle rental procedure being contactless.

Some of the prominent players and suppliers operating and contributing significantly to the global Car Sharing market growth include Hertz Corporation, DriveNow GmbH & Co. KG, Communauto Inc., Car2Go, CarShare Australia, Orix Corporation., Lyft Inc., Zipcar Inc., Regina Car Share Co-operative, and Turo Inc., among others.

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RationalStat has segmented the global Car Sharing market based on type, application and region

  • Global Car Sharing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
    • Peer-to-Peer Car Sharing
    • Station Based Car Sharing
    • Free Floating Car Sharing
  • Global Car Sharing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
    • Corporate Business
    • Private
  • Global Car Sharing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
    • North America Car Sharing Market
      • US
      • Canada
    • Latin America Car Sharing Market
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe Car Sharing Market
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe Car Sharing Market
      • Russia
      • Poland
      • Hungary
      • Other CIS Countries
      • Rest of Eastern Europe
    • Asia Pacific Car Sharing Market
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • ASEAN
        • Indonesia
        • Thailand
        • Philippines
        • Vietnam
        • Malaysia
        • Rest of ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa Car Sharing Market
      • GCC
        • Saudi Arabia (KSA)
        • United Arab Emirates (UAE)
        • Rest of the GCC
      • South Africa
      • Nigeria
      • Turkey
      • Rest of the Middle East & Africa

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Key Questions Answered in the Car Sharing Report:

  • What will be the market value of the global Car Sharing market by 2030?
  • What is the market size of the global Car Sharing market?
  • What are the market drivers of the global Car Sharing market?
  • What are the key trends in the global Car Sharing market?
  • Which is the leading region in the global Car Sharing market?
  • What are the major companies operating in the global Car Sharing market?
  • What are the market shares by key segments in the global Car Sharing market?  

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

  • Defining the problem by understanding the type of market and data required by the client.
  • Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
  • Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
  • Evaluating and analyzing the data by referring to data sources utilized and leveraged.
  • Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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About RationalStat LLC                    

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

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