Car Sharing Market to Grow by USD 22.4 Billion from 2025-2029, Driven by Emission Control Regulations, Report on AI Redefining Market Landscape - Technavio

NEW YORK, Feb. 11, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The car sharing market and it is set to grow by USD 22.4 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of 22.1% during the forecast period, according to Technavio. The car sharing market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  Avis Budget Group Inc., cambio Mobilitatsservice GmbH and Co. KG, Carrot, Cityhop, Communauto Group, DiDi Global Inc., ekar Car Rental LLC, Enterprise Holdings Inc., Getaround Inc., GoGet, Hertz Global Holdings Inc., HOURCAR, Lyft Inc., Mobility Cooperative, Modo Co-operative, Orix Corp., Peg City Car Co-op, Regina Car Share Co-operative, Stellantis NV, and Turo Inc. Are some of the major market participants -. To know about the vendor offerings - Request a sample report

Car Sharing Market 2025-2029: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The car sharing market report covers the following areas:

• Car Sharing Market Size
• Car Sharing Market Trends
• Car Sharing Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The car sharing market is fragmented, and the degree of fragmentation will accelerate. The stringent government regulations regarding emission control will offer immense growth opportunities. However, the Rigid government regulations pertaining to car sharing services will hamper the market growth

Car Sharing Market 2025-2029: Drivers & Challenges

Car Sharing Market is experiencing significant growth due to increasing urban population and air pollution concerns. Economy cars are popular choices for this sustainable mobility solution. Shared mobility services, including Car Sharing Services, offer flexible periods for intracity and intercity use. Two models, Free Float and Stationary, cater to different needs. Peer-to-Peer (P2P) Car Sharing allows local car owners to rent out their vehicles during round-trip absences. Electric Vehicles (EVs) and sustainable vehicles are becoming more common in this market. Infrastructure development for electric charging infrastructure is crucial. Vehicle electrification and battery technology advancements address carbon emissions. Insurance challenges are being addressed through innovative contracts. The market is fragmented with various offerings, including commuting, road trips, errands, and public transportation alternatives. Machine learning optimizes vehicle usage and reduces transportation costs. Infrastructure development and vehicle type diversity are key focus areas. Urbanization, economy, and sustainability are driving the Car Sharing Market. It's a win-win solution for reducing carbon emissions, promoting affordable transportation, and optimizing vehicle usage.

Car sharing market is experiencing significant growth with the increasing popularity of mobile apps and shared vehicles. Digital platforms like Zipcar lead the way, offering convenience and flexibility for consumers. However, challenges persist. Integration of electric vehicles (EVs) and the development of charging infrastructure are crucial for reducing carbon emissions and air pollution in urban areas. Businesses and individuals alike seek to address traffic congestion and limited parking through carsharing and urban mobility solutions. Insurance products and the integration of public transportation are also important considerations. Carsharing services come in various forms, including P2P, station-based, and free-floating. Economy, executive, and luxury vehicles are available for booking, with flexible periods and contracts. The market is fragmented, with intracity and intercity services catering to commuting needs. Fuel-efficient vehicles and clean energy transportation are key trends, as the urban population continues to grow. Carsharing is a mobility service that offers a sustainable and cost-effective alternative to traditional car ownership.

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This car sharing market report extensively covers market segmentation by  

• End-user
• Business
• Individual
• Mode Of Booking
• Online
• Offline
• Geography
• North America
• Europe
• APAC
• Middle East And Africa
• South America

1.1 Business-  The business sector is experiencing growth in the global car sharing market due to the expansion of dedicated shared-use vehicle fleets. This trend enables enterprises to optimize fleet management, reduce fleet-related expenses, and offer employees an attractive mobility solution. Key benefits include cost savings, time efficiency, and increased corporate social responsibility. Notable car sharing services, such as Zipcar and Getaround, are expanding their electric vehicle offerings and international reach, respectively. These initiatives are anticipated to boost demand from business end-users, contributing to the market's growth during the forecast period.

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Car Sharing Market 2025-2029: Key Highlights

• CAGR of the market during the forecast period 2025-2029
• Detailed information on factors that will assist car sharing market growth during the next five years
• Estimation of the car sharing market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the car sharing market across North America, Europe, APAC, Middle East and Africa, and South America
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of car sharing market vendors

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SOURCE Technavio