Car Sharing Market to hit $16.5bn by 2024: Global Market Insights Inc.

“China car sharing market share is predicted to grow significantly with CAGR of over 40% from 2016 to 2024 owing to the rising demand across corporate & private applications. Moreover, the presence of large players such as Orix Auto and Park24 and emerging numbers of start-ups in the region is expected to fuel the industry growth over the future.”

Print
| Source: Global Market Insights, Inc

Ocean View, Delaware, March 28, 2017 (GLOBE NEWSWIRE) --

The growth analysis 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 will cross 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.

Request for a sample of this research report @ https://www.gminsights.com/inquiry-before-buying/719

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.

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 at:   

 https://www.gminsights.com/industry-analysis/carsharing-market

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.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/719

Carsharing market research report includes in-depth coverage of the industry with estimates & forecast in terms of fleet size, members & revenue from 2013 to 2024, for the following segments:

Car Sharing Market By Business Model

  • Round trip
  • One way

Car Sharing Market By Application

  • Business
  • Private

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Turkey
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

 

Browse Related Reports:

  • In-Car Apps Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development, Price Trend, Competitive Market Share & Forecast, 2016 – 2023

      https://www.gminsights.com/industry-analysis/in-car-apps-market

  • Intelligent Transportation System (ITS) Market Size By Application (Road Safety and Security, Traffic Management, Freight Management, Parking Management, Public Transport, Environment Protection, Road User Charging, Automotive Telematics), By Product (ATMS, ATPS, ATIS, APTS, Cooperative vehicle systems),Industry Analysis Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022

      https://www.gminsights.com/industry-analysis/intelligent-transportation-system-ITS-market   

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
Connect with us: Facebook | Google+ | LinkedIn | Twitter