The technology research report “Car Sharing Market Size By Business Model
(Round Trip, One Way), By Application (Business, Private), Industry Analysis
Report, Regional Outlook (U.S., Canada, Germany, UK, France, Turkey, Russia,
China, India, Japan, South Korea, Brazil, Mexico), Growth Potential, Price
Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global
Market Insights, Inc. says Car Sharing Market size is set to exceed
USD 16.5 billion by 2024.
Stringent government regulations
associated with the emission of harmful pollutants in the environment such as
the EPA National Emissions Standards for Hazardous Air Pollutants (NESHAP) are
anticipated to drive the car sharing market. Various regulatory bodies from
across the globe are supporting car sharing services. The German government has
published a draft bill to accommodate car sharing in municipalities and cities
to encourage the installation of the required infrastructure. The government
sees this business model as a crucial element to make the transportation sector
more environment-friendly. Additionally, it could reduce the need for owning a
vehicle, particularly in urban areas.
The car sharing market aims at providing a
cost-effective solution for vehicle owners to enhance their mobility and the daily
commute. It helps users and authorities to efficiently manage the usage of
parking space, improve travel choices, increase accessibility and reduce
adverse environmental impact. Vehicle ownership comprises several fixed costs
such as insurance, depreciation, and maintenance that adds significantly to the
total cost of ownership. However, users of shared services pay only when they
use a vehicle for time/distance based services.
A considerable percentage of U.S.
consumers still consider personal cars as their preferred mode of transport,
although preference is lower among younger consumers. However, the popularity
of the car sharing market among the younger population is growing due to rising
traffic congestion and high degree of convenience. Lack of proper
transportation infrastructure in countries such as China, India, Turkey,
Mexico, and Brazil is posing a challenge to the carsharing market.
One way car sharing market is expected
to grow significantly over the forecast period due to the reduction in user
inconvenience to return the vehicle at the starting point. One-way services are
more flexible for the customers; however, they present more difficulties to
operators. They are difficult to manage, as the freedom given to the users
creates imbalances on the fleet distribution. To address the issue, the
operator can move the vehicles from areas with surplus availability to areas
with high demand.
Corporate applications accounted for
majority of the car sharing market size and are expected to remain dominant
over the forecast timespan. Vehicle parking space is a big problem for several
businesses, which can be overcome by employing these services.
U.S. car sharing market accounted for
majority of the revenue in 2015 due to technology advancements. Increased
funding activities from various organizations and authorities such as the Department
of Transportation to promote these services is expected to propel the
carsharing market demand.
Companies operating in the industry
include DriveNow, Zip Car, AutoLiv, Car2go, Uber, etc. Players are
concentrating on price reduction and service enhancement to improve the overall
user experience. For instance, in Singapore, BlueSG operates one-way EV car
sharing program. This program focuses on the flexibility and convenience of the
customers so that they can return their vehicles at the destination eliminating
the need to return at the original pickup location. U.S. based car sharing
company, EZride, provides unique smart cards for its users to lock/unlock the
doors of their vehicles.
Browse key industry
insights spread across 130 pages with 52 market data tables & 13 figures
& charts from this 2017 report Car
Sharing Market in detail along with the table of contents:
Report Content
Chapter
1 Methodology & Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights &
validation
1.1.4 Scope, definitions &
research assumptions
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter
2 Executive Summary
2.1 Car sharing industry 3600 synopsis,
2013 – 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Business model trends
2.1.4 Application trends
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