Austin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The Shared Mobility Market Share will increase to USD 1167.54 billion by 2032, growing at an impressive CAGR of 17.3% during the forecast period, 2024-2032. Cities across the world are focusing on reducing carbon emissions and traffic congestion through innovative mobility solutions.
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KEY PLAYERS:
The major key players are as follows:
- Avis Budget Group: (Car rental, car-sharing services (via Zipcar))
- car2go NA LLC: (Products/Services: Free-floating car-sharing services)
- Beijing Xiaoju Technology Co Ltd. (Didi Chuxing): (Ride-hailing, carpooling, bike-sharing)
- Global Car Sharing Car Rental Ltd.: (Car-sharing services)
- Grab: (Ride-hailing, bike-sharing, car-sharing, food delivery)
- Uber Technologies Inc.: (Ride-hailing, bike and scooter sharing, Uber Pool (carpooling), Uber Eats.)
- ANI Technologies Pvt. Ltd. (Ola): (Ride-hailing, car rentals, bike-sharing)
- Lyft Inc.: (Ride-hailing, bike-sharing, scooter-sharing)
- Careem: (Ride-hailing, car rental, bike-sharing, food delivery)
- Gett: (Corporate ride-hailing, on-demand taxi services)
- BlaBlaCar: (Long-distance carpooling and shared travel)
- Zipcar: (Car-sharing services)
- Turo: (Peer-to-peer car rental)
- Share Now (Car-sharing services (formerly car2go))
- Splyt: (Mobility integration platform for ride-hailing and other transport services)
What drivers are encouraging the growth in the shared mobility market?
The ever-growing urge for urbanization and the increasing cost of the ownership of vehicles has forced consumers to look into shared transport options. Congestion in cities is forcing them to adopt alternatives to private vehicles and opt for shared transportation systems that offer ease in traffic congestion and help in the reduction of emissions as well. Apart from this, pressure for sustainability from the global level, with incentives from governments that encourage the use of electric vehicles and shared transportation, have made shared mobility services gain prominence.
What are the emerging opportunities in the shared mobility marketplace?
The opportunity for growth resides in the transition toward electric and autonomous vehicles. As more and more countries slowly transition to greener policies regarding transportation, shared mobility operators are moving toward electric vehicles and micro-mobility solutions as they service environmentally sensitive consumers. Cities are increasingly partnering with shared mobility operators to deliver comprehensive transportation networks that integrate services through the MaaS platform, enabling the consumer to access numerous transport services through a single integration.
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Market Segmentation:
by Service Model
- Ride-Hailing
- Bike Sharing
- Ride Sharing
- Car Sharing
- Others
by Vehicles
- Cars
- Two-Wheelers
- Others
by Business Model
- P2P
- B2B
- B2C
by Power Source
- Fuel Powered
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
How many of shared mobility services in the U.S. are electric?
SNS Insider reports estimate that 20-25% of shared mobility services in the United States, which comprises ride-hailing and car-sharing, are electric or hybrid. And that number is expected to keep rising steadily as major shared mobility operators, such as Uber and Lyft, agree to shift their fleets to fully electric vehicles entirely by 2030, in step with broader environmental goals.
Electrification trends in shared mobility are gaining ground, not only in the U.S. but also across the world, as operators start to realize the long-term cost benefits of electric fleets and increasing consumer demand for eco-friendly transport options.
In the Shared Mobility Market, Which Segment Will Experience the Fastest Growth?
Micro-mobility, covering bike-sharing and e-scooter-sharing services, would be the fastest-growing segment in the shared mobility market. As more and more seek shorter journeys at lesser cost, this micro-mobility segment is bound to attract huge opportunities for growth and expansion, particularly in congested urban areas where scarcity of parking space remains one of the major problems.
The continued rise in micro-mobility investments in public infrastructure for bike lanes and scooter docks is further driving the surge. Cities like Paris, Berlin, and San Francisco have already witnessed a sharp growth in using micro-mobility services as an added preferred mode of transportation for the "last mile" journey.
Which Region Would Dominate the Shared Mobility Market by 2032?
Shared mobility is expected to have the Asia-Pacific region dominated in the given forecasted period with rapid urbanization, government support for green transportation, and advancement in digital infrastructure. Countries in the Asia-Pacific region - China, Japan, and India - are showing immense demand for shared mobility services due to an increase in numbers of people in cities, high smartphone penetration, and rising air quality concerns.
North America and Europe will capture most of the market in shared mobility in the future years, thanks to a high growth in consumer demand for electric ride-hailing services and public-private collaborations targeting carbon emission reduction in both regions. In Europe, cities like London, Paris, and Berlin are already ahead in terms of giving stiff regulatory support to shared mobility solutions besides encouraging the adoption of electric vehicles.
Of all the leading players' share of the shared mobility market?
The major players, such as Uber, Lyft, and Didi, command the market for global shared mobility. In the last estimates, these companies hold about 45-50% of the share in the market. A lot of innovation and expansion of service are given by these providers. They keep investing in electric vehicle fleets and even form partnerships with public transit authorities. Other new entrants, and niche micro-mobility, are taking up the share by widening the scope of the competitive landscape.
Key Takeaways:
- Increasing demand for cheap, flexible, and environmentally friendly means of transportation is one driving trend behind the market for shared mobility.
- The future of shared mobility services rides on technological innovation, particularly in electric and self-driving vehicles.
- Micro-mobility will be the fastest growing segment because investment in urban infrastructure is growing, while consumers increasingly seek out short-distance solutions.
- A majority share is due from Asia-Pacific; north America and Europe are expected to be steady.
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BENEFITS:
1 No. Of Pages: 350 Pages Report
2 Regions/Countries:
- North America (3 Countries)
- Europe (~15 Countries)
- Asia Pacific (~10 Countries)
- Latin America (~5 Countries)
- Middle East & Africa (~5 Countries) (Include Israel)
3 ME Sheet: Market Estimation in Excel Format
4 Company Analysis:
- Major 16 companies covered in final report.
- Additional 5 companies will be covered as per client demand complimentary.
5 Statistical Insights and Trends Reporting:
- Vehicle Production and Sales Volumes, 2020-2032, by Region
- Emission Standards Compliance, by Region
- Vehicle Technology Adoption, by Region
- Consumer Preferences, by Region
6 Buying Options
- Single User License: USD 3350
- Enterprise User License: USD 5350
- Excel Data Sheet: USD 2350
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Go To Market Assessment Service
Total Addressable Market (TAM) Assessment
Competitive Benchmarking and Market Share Gain
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SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
