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Car Sharing Market 2020 | Outlook, Growth by Top Companies, Regions, Types, Applications, Drivers, Trends & Forecasts by 2026

Author : Ronak Bora | Published Date : 2020-09-03 

The car sharing market is poised to witness sizeable growth owing to increasing adoption of new pioneering urban mobility solutions that help curb traffic congestion. People, especially younger generation, across the globe are gradually shifting towards shared vehicle ownership as it helps in minimizing the hazardous effects of carbon emissions. Growing concerns over environmental degradation has fueled the adoption of such services.

Meanwhile, factors like rapid growth of the urban sector and lack of public transportation across developing countries have strengthen the idea of car sharing. Public transports are usually overcrowded and are witnessing a heavy rise in the number of passengers as the population rises. This has compelled various commuters to explore the idea of alternative transport facilities like cab sharing or car sharing services.

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Some major findings of the car sharing market report include:

  • Car sharing services allow the shared usage of cars between different individuals for short-distance commutes
  • Rising urbanization coupled with increasing traffic congestion on the roads across Europe, North America, and Asia Pacific is supporting the demand for car sharing services
  • Growing concerns over employee safety and security are encouraging companies to provide car sharing services to their employees, fueling the growth of the car sharing market
  • The rising adoption of electric vehicles in countries across the globe is strengthening market growth
  • Key players operating in the car sharing market are Turo, Inc., Regina Car Share Co-operative, Zipcar, Inc., Lyft, Inc., Orix Corporation, CarShare Australia, Car2Go, Autolib, Communauto Inc., Getaround, Inc., DriveNow GmbH & Co. KG, Car2Go, Carrotshare, Hour Car, and Hertz Corporation
  • To sustain in the competitive market, players are focusing on developing strategic alliances with technology providers to enhance the customer experience in car sharing services. They are offering additional benefits integrated with smart devices, such as voice assistants, to expand their customer base.

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 (ToC) of the report:

Chapter 1. Methodology and Scope

  • 1.1. Definitions & forecast parameters
    • 1.1.1. Definitions
    • 1.1.2. Methodology and forecast parameters
  • 1.2. Data Sources
    • 1.2.1. Secondary
    • 1.2.2. Primary

Chapter 2. Executive Summary

  • 2.1. Car sharing market industry 360 degree synopsis, 2015 - 2026
    • 2.1.1. Business trends
    • 2.1.2. Model trends
    • 2.1.3. Business model trends
    • 2.1.4. Application trends
    • 2.1.5. Regional trends

Chapter 3. Car Sharing 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

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/carsharing-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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