Car-sharing - Argentina | Statista Market Forecast

It is projected that the revenue in Argentina's Car-sharing market will reach US$11.31m by 2024, with an expected annual growth rate of 1.70% (CAGR 2024-2029).
This will result in a projected market volume of US$12.31m by 2029.
The number of users in this market is expected to reach 305.20k users by 2029, with a user penetration rate of 0.4% in both 2024 and 2029.
The average revenue per user (ARPU) is expected to be US$58.13.
By 2029, 100% of the total revenue in the Car-sharing market in Argentina will be generated through online sales.
In comparison to other countries, United States is expected to generate the most revenue, with US$3bn in 2024.
The Car-sharing market in Argentina is gaining popularity as urban traffic congestion and high transportation costs push consumers towards more sustainable and affordable mobility options.

Definition:

The Car-sharing market encompasses car-sharing services. Car-sharing service providers own the vehicles that customers can book independently at any time. Customers need to enter into a contract with the service provider in order to be able to book vehicles via a smartphone app, the website of the service provider, or by telephone. The vehicle is usually opened via smartphone or a chip card. Some service providers, however, provide the car key in a key safe at the car-sharing station. Prices are calculated per minute or hour, with the money being debited from the customer's bank account. Peer-to-peer car-sharing is not included in this market. Car-sharing services are not available in all countries; thus, only a limited number of countries and regions can be selected.

Additional Information:

The main performance indicators of the Car-sharing market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the mentioned market. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Free-floating car sharing bookings
Station-based car sharing bookings
Companies offering a combination of free-floating and station-based car sharing
Services such as Share Now, Sixt Share, or Enterprise CarShare

Peer-to-peer car sharing bookings
Rental car booking
Taxi services
Carpools
Ride hailing services

The Car-sharing market in Argentina is experiencing significant growth and development.

Customer preferences: Customers in Argentina are increasingly opting for car-sharing services due to the convenience and cost-effectiveness they offer. Car-sharing allows individuals to use a vehicle only when needed, eliminating the need for ownership and associated costs such as maintenance, insurance, and parking. This appeals to customers who are looking for flexible transportation options and want to avoid the hassles of owning a car.

Trends in the market: One of the key trends in the car-sharing market in Argentina is the rise of app-based platforms that connect car owners with individuals in need of a vehicle. These platforms provide a seamless and user-friendly experience, allowing customers to easily find and book a car for their desired duration. The availability of a wide range of vehicle options, from compact cars to SUVs, further enhances the appeal of car-sharing services. Another trend in the market is the increasing collaboration between car-sharing companies and traditional rental car companies. This partnership allows car-sharing companies to expand their fleet and reach, while rental car companies can tap into the growing demand for short-term rentals. This collaboration also enables car-sharing companies to offer a wider range of vehicle options to customers, catering to different needs and preferences.

Local special circumstances: Argentina's urban areas, particularly Buenos Aires, face challenges such as traffic congestion and limited parking space. Car-sharing services provide a solution to these issues by reducing the number of private vehicles on the road and promoting efficient use of existing parking infrastructure. This makes car-sharing an attractive option for individuals living in urban areas who want to avoid the hassle of driving and parking their own vehicles.

Underlying macroeconomic factors: The development of the car-sharing market in Argentina is also influenced by macroeconomic factors. The country has experienced economic fluctuations in recent years, with periods of recession and inflation. During economic downturns, individuals may be more inclined to opt for cost-effective transportation options like car-sharing, rather than investing in a personal vehicle. Additionally, the rise of the sharing economy globally has contributed to the growth of car-sharing in Argentina, as individuals are becoming more comfortable with the idea of sharing resources for economic and environmental benefits. In conclusion, the car-sharing market in Argentina is growing due to customer preferences for convenience and cost-effectiveness. The rise of app-based platforms and collaborations with traditional rental car companies are key trends in the market. Local special circumstances, such as traffic congestion and limited parking space, further drive the adoption of car-sharing services. Macroeconomic factors, including economic fluctuations and the rise of the sharing economy, also contribute to the development of the car-sharing market in Argentina.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car-sharing services.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.