Car Sharing Market Analysis with Global Forecast to 2026 Detailed Research by Types & Applications

Selbyville, Delaware, United States, October 7 2020 (Wiredrelease) Global Market Insights, Inc –:The car sharing market is likely to register considerable growth in the coming years owing to the demand for convenient and cost-effective mobility services. Car sharing is basically designed for a shorter duration and for relatively shorter trips as an extension of the transportation network, thereby offering a public service which is designed to improve the mobility options.

The idea is that the number of vehicles needed to meet the commute demand of a group of individuals is generally less while car sharing. Car sharing can also help society with progressively proficient vehicle use, the advantage of lessened space as the result of less vehicles being utilized, decreasing the space dedicated to transportation infrastructure, in this way being more averse to sit unused in parking garages at schools, travel stations, and working environments.

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The notion of car sharing is very simple, wherein the people gain the benefit of using car without the taking up the costs or responsibilities of ownership. It can further expand access and mobility, thereby lessening the negative environmental effect of driving.

Car sharing providers now have numerous options of business models to choose from. The stationary or station-based mode in car sharing is ideal for longer and planned trips. The main advantage of this is that the individual has the choice of reserving a particular car model.

Car sharing market is segmented in terms of mode, business model type, application, and regional landscape.

Based on mode, the market is bifurcated into free-floating, P2P, and station based. The free-floating mode segment is likely to record a CAGR of 25% as it offers flexibility in pick up and drop off of cars according to customer demand.

This model enables the usage of electric vehicles without the need to worry about connecting to a charging point. It is simple and affordable for users and there is no need to make a reservation before or no need to worry about the availability of parking space when reaching a destination.

With respect to business model, the market is categorized into one way and round trip. The round-trip segment is expected to grow steadily due to shift towards free-floating car sharing services in developed economies across the world.

Based on application, the market is classified into private and business. The business application segment is likely to witness growth due to growing inclination of youth towards shared mobility services.

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From a regional frame of reference, the North America car sharing market share was more than 15% in 2019 due to growing number of car sharing service providers. The regional segment is likely to witness tremendous growth in forthcoming years.

TABLE OF CONTENTS:

Chapter 3.   Market Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2015 – 2026

3.3.  Industry ecosystem analysis

3.3.1. Vendor matrix

3.4.  Technology & innovation landscape

3.4.1. Radio Frequency (RF)

3.4.2. GPS based navigation

3.4.3. Autonomous vehicles

3.4.4. Electric vehicles

3.5.  Regulatory landscape

3.5.1.1.    North America

3.5.1.2.    Europe

3.5.1.3.    Asia Pacific

3.5.1.4.    Latin America

3.5.1.5.    MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    Stringent government regulations pertaining to emission control in Europe and North America

3.6.1.2.    Incentives offered by the government to use car sharing in the U.S.

3.6.1.3.    Increasing adoption of vehicles enabled with advanced technologies

3.6.1.4.    Reduction in traveling/commuting cost

3.6.1.5.    Growing investments in car sharing by the automobile manufacturers in Germany

3.6.1.6.    Increasing adoption of urban mobility due to increasing traffic congestion and pollution in China

3.6.1.7.    Lack of proper public transportation infrastructure in India

3.6.1.8.    Changing regulations in Malaysia and Singapore

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Inadequate transportation infrastructure

3.6.2.2.    Fierce competition from similar transport models

3.6.2.3.    Widespread impact of COVID-19

3.7.  Car sharing business model

3.8.  Evolution of shared mobility

3.8.1. International car sales outlook

3.9.  Growth potential analysis

3.10.     Porter’s analysis

3.10.1.  Supplier power

3.10.2.  Buyer power

3.10.3.  Threat of new entrants

3.10.4.  Threat of substitutes

3.10.5.  Internal rivalry

3.11.      Competitive landscape, 2019

3.11.1.  Company market share analysis

3.11.2.  Strategy dashboard (New product development, M&A, R&D, Investment landscape)

3.12.      PESTEL analysis

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This content has been published by Global Market Insights, Inc company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at [email protected].

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