Car Sharing Market Synopsis

Car Sharing Market Size is Valued at USD 136.0 Billion in 2024 and is Projected to Reach USD 464.69 Billion by 2032, Growing at a CAGR of 16.60% From 2024-2032.

Car sharing is a business that utilizes automobiles temporarily, sometimes on minutes or hourly basis, and where the customer can access the car through his/her Smartphone. It provides a reasonable and convenient solution for people in contrast to a private car so that having all the necessary documents, spare keys, insurance, and other accouterments, one could easily use it only when needed. Consumer mobile car-sharing services are typically located in metropolitan regions because they help shoppers avoid the ownership of automobiles while giving them simple access to transit when necessary.

• The market for car sharing, thus, largely hinges on the trends towards cost-efficient and readily accessible mobility, especially within cities. There has been a common problem of traffic jams, lack of parking space, and the rising issue of environmental conservation; thus, people are enjoying the services or car rental as compared to owning a vehicle. One of the services that is created to give users the freedom of owning a car without having to endure inconveniences such as maintenance, insurance, and parking is car-sharing services.
• Further, the increased adoption of modern technologies forms another crucial factor that has boosted the growth of the car-sharing market. Modern technology solutions that include the use of mobile applications and GPS technology have enhanced easy pointing and reservation of cars by the users and on the other hand, orderly organization of the car sharing companies’ fleet cars. Including electric and hybrid cars within car-sharing services is also a great addition that adds to the attractiveness of the market, which is similarly shifting globally toward sustainable solutions. In general, the usage of car-sharing in the aspects like convenience cost saving, and environmentally friendly moves is predicted to fuel the growth of the car-sharing market in the future years.

Car Sharing Market Trend Analysis

The Rise of Car Sharing, Redefining Urban Mobility

• Despite facing some challenges in some territories, the car-sharing market has been on a continuous upward trend across the world, especially due to attributes like urbanization, traffic jams, and a shift towards sustainable transport solutions. Car-sharing solutions are well-suited to meet the needs of people who do not need to have a car every day and do not have dedicated parking spaces, as is the case in many large cities where the cost of car ownership is also relatively high. Regarding the market, there have been shifts in attitudes toward car ownership as individuals embraced new and shared solutions in their effort to lower their carbon footprint and save on transportation expenses.
• Further, the car-sharing market has received a major boost through the proliferation of technologies that have emerged in the recent past. Smartphone applications and GPS tracking have contributed to improved consumer convenience, enabling them to find shared automobiles with ease. Furthermore, the inclusion of electric cars (EVs) in the car-sharing system has contributed to market growth as consumers embrace environmental conservation and the market has been directed by governments to adopt electric vehicles since they do not emit gases into the atmosphere. In conclusion, the market of car sharing is also likely to further experience a trend of growth as more and more people tend to choose convenient and environmentally friendly mobility services.

Urban Mobility Redefined, The Bright Future of Car Sharing

• The market of car sharing is becoming more potential and has a high potential for development and striking advance in the transportation domain. As the idea of urban centers and concerns for environmental sustainability realize greater importance in people’s lives, car sharing is an effective substitute for auto ownership.
• Thus, one of the primary forces that define the market growth is the change in the consumption model and higher demand for sharing and access rather than individualistic transportation. This trend is especially effective among the younger cohorts whose preference tends toward access over product. Furthermore, increased technological features including smartphone devices and efficient car-sharing apps have greatly enhanced the work of consumers in searching for shared options to book and unlock them.
• Moreover, car clubs are more and more supported by governments and city planners to diminish the traffic density, pollutant emissions, but also the waste of space for car parking. There is an increasing trend of the support of regulators and policymakers, as a result, the car-sharing market is expected to have more growth in the upcoming years.

Car Sharing Market Segment Analysis:

Car Sharing Market is Segmented based on Business Model, Vehicle Type, and Application.

By Business Model, the Round-Trip segment is expected to dominate the market during the forecast period

• This is because car-sharing services work on various systems, two notables of which are round trip and one way. For example, in the round-trip model, users first get a car from a specific place, then use the car as they wish, and then return it. This model is great for uses with a scheduled timetable and understanding of their point of origination.
• However, one-way car sharing enables the users to pick up a vehicle from one place and return it to a different location, which is more convenient than standard car sharing. Such a model is suitable for consumers who do not want to begin at the original point or who have not established a clear plan. Each model has its unique selling points and benefits and is geared towards the resulting preferences and requirements of the users when traveling.

By Application, Private segment held the largest share in 2024

• Typically, car sharing in business applications refers to a service where companies offer their employees access to use shared cars. This may come in handy when organizing business travelers’ trips, meeting with clients, or for any other work-related reasons. It for business brings some efficiency when it comes to fleet maintenance as well as bringing the benefit of additional car usage for people working in large companies.
• Private app-based car sharing targets the audience that may not own or rarely need, a car. In the same regard, the private civilian consumer can enjoy the service of car sharing since the alternative to this entails coming up with a lot of cash to cater for both parking and car maintenance fees which may be so expensive, especially in cities. Moreover, private car sharing can also be viewed partly as a more sustainable means of transportation, which is in line with the increasing need for environmentally friendly transportation systems.

Car Sharing Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• Due to factors like rising population density and traffic conditions, people’s consciousness towards environment protection, and the availability of cheap used vehicles, the Asia-Pacific car-sharing market has shown significant growth in the last few years. The participants identified the major markets of car-sharing services to be the Asia-Pacific region and in particular, China, Japan, South Korea, and India among others. For instance, there has been a continuous and rapid increase in the EV market in China owing to the government’s encouragement of the adoption of electric cars and the shared economy.
• Japan has a relatively developed car-sharing market with companies like Times24 Co. Ltd. our partner in Japan and Orix Corporation in the major cities. South Korea is also growing, supported by Seoul’s government which encourages car-sharing through its programs that aim to decrease traffic jams and air pollution. Currently, the car-sharing market in India is still small compared to other nations, still, it is tremendously optimistic because of the growing usage of smartphones and the incorporation of car-sharing facilities all over the country.

Active Key Players in the Car-Sharing Market

• Getaround, Inc. (USA)
• Hertz Global Holdings, Inc. (USA)
• Ekar Car Rental LLC (UAE)
• SIXT (Germany)
• Goldbell Engineering Pte. Ltd. (Singapore)
• Avis Budget Group, Inc. (USA)
• Stellantis NV (Netherlands)
• Turo Inc. (USA)
• Cambio Mobility Service GmbH & Co. KG (Germany)
• Enterprise Holdings Inc. (USA), and Other Active Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Car Sharing Market by Business Model
 4.1 Car Sharing Market Snapshot and Growth Engine
 4.2 Car Sharing Market Overview
 4.3 Round Trip
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Round Trip: Geographic Segmentation Analysis
 4.4 One Way
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 One Way: Geographic Segmentation Analysis

Chapter 5: Car Sharing Market by Vehicle Type
 5.1 Car Sharing Market Snapshot and Growth Engine
 5.2 Car Sharing Market Overview
 5.3 Electric Vehicle (EV)
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Electric Vehicle (EV): Geographic Segmentation Analysis
 5.4 Internal Combustion Engine Vehicle (ICEV)
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Internal Combustion Engine Vehicle (ICEV): Geographic Segmentation Analysis

Chapter 6: Car Sharing Market by Application
 6.1 Car Sharing Market Snapshot and Growth Engine
 6.2 Car Sharing Market Overview
 6.3 Business
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Business: Geographic Segmentation Analysis
 6.4 private
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 private: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Car Sharing Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 GETAROUND
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 INC
 7.4 HERTZ GLOBAL HOLDINGS
 7.5 INC
 7.6 EKAR CAR RENTAL LLC
 7.7 SIXT
 7.8 GOLDBELL ENGINEERING PTE
 7.9 LTD
 7.10 AVIS BUDGET GROUP
 7.11 INC
 7.12 STELLANTIS NV
 7.13 TURO INC
 7.14 CAMBIO MOBILITY SERVICE GMBH & CO
 7.15 KG
 7.16 ENTERPRISE HOLDINGS INC
 7.17 OTHER ACTIVE PLAYERS

Chapter 8: Global Car Sharing Market By Region
 8.1 Overview
 8.2. North America Car Sharing Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Business Model
   8.2.4.1 Round Trip
   8.2.4.2 One Way
  8.2.5 Historic and Forecasted Market Size By Vehicle Type
   8.2.5.1 Electric Vehicle (EV)
   8.2.5.2 Internal Combustion Engine Vehicle (ICEV)
  8.2.6 Historic and Forecasted Market Size By Application
   8.2.6.1 Business
   8.2.6.2 private
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Car Sharing Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Business Model
   8.3.4.1 Round Trip
   8.3.4.2 One Way
  8.3.5 Historic and Forecasted Market Size By Vehicle Type
   8.3.5.1 Electric Vehicle (EV)
   8.3.5.2 Internal Combustion Engine Vehicle (ICEV)
  8.3.6 Historic and Forecasted Market Size By Application
   8.3.6.1 Business
   8.3.6.2 private
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Car Sharing Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Business Model
   8.4.4.1 Round Trip
   8.4.4.2 One Way
  8.4.5 Historic and Forecasted Market Size By Vehicle Type
   8.4.5.1 Electric Vehicle (EV)
   8.4.5.2 Internal Combustion Engine Vehicle (ICEV)
  8.4.6 Historic and Forecasted Market Size By Application
   8.4.6.1 Business
   8.4.6.2 private
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Car Sharing Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Business Model
   8.5.4.1 Round Trip
   8.5.4.2 One Way
  8.5.5 Historic and Forecasted Market Size By Vehicle Type
   8.5.5.1 Electric Vehicle (EV)
   8.5.5.2 Internal Combustion Engine Vehicle (ICEV)
  8.5.6 Historic and Forecasted Market Size By Application
   8.5.6.1 Business
   8.5.6.2 private
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Car Sharing Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Business Model
   8.6.4.1 Round Trip
   8.6.4.2 One Way
  8.6.5 Historic and Forecasted Market Size By Vehicle Type
   8.6.5.1 Electric Vehicle (EV)
   8.6.5.2 Internal Combustion Engine Vehicle (ICEV)
  8.6.6 Historic and Forecasted Market Size By Application
   8.6.6.1 Business
   8.6.6.2 private
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Car Sharing Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Business Model
   8.7.4.1 Round Trip
   8.7.4.2 One Way
  8.7.5 Historic and Forecasted Market Size By Vehicle Type
   8.7.5.1 Electric Vehicle (EV)
   8.7.5.2 Internal Combustion Engine Vehicle (ICEV)
  8.7.6 Historic and Forecasted Market Size By Application
   8.7.6.1 Business
   8.7.6.2 private
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research