Car-sharing - ASEAN | Statista Market Forecast

By 2024, revenue in the Car-sharing market in ASEAN is expected to reach US$397.70m.
The revenue is projected to grow annually at a rate of 3.79% between 2024 and 2029, resulting in a market volume of US$479.00m by 2029.
It is expected that the number of users in ASEAN's Car-sharing market will amount to 4.05m users by 2029.
The user penetration is projected to be 0.5% in 2024, which will increase to 0.6% by 2029.
The average revenue per user (ARPU) is expected to be US$121.10.
Furthermore, it is estimated that 93% of the total revenue in ASEAN's Car-sharing market will be generated through online sales by 2029.
When compared to other countries, United States is projected to generate the highest revenue in the Car-sharing market, with US$3bn in 2024.
Car-sharing is gaining popularity in ASEAN, with Singapore leading the way in implementing innovative solutions for urban transportation.

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 ASEAN is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Car-sharing market in ASEAN are shifting towards more sustainable and convenient transportation options. With increasing awareness about environmental issues and the need to reduce carbon emissions, consumers are opting for car-sharing services as a more eco-friendly alternative to traditional car ownership. Additionally, the convenience and flexibility offered by car-sharing platforms, such as the ability to book a car on-demand and pay only for the duration of use, are appealing to customers who value convenience and cost-effectiveness. Trends in the Car-sharing market in ASEAN are also contributing to its growth and development. One of the key trends is the rise of ride-hailing companies that have expanded their services to include car-sharing options. These companies leverage their existing customer base and infrastructure to offer car-sharing services, making it easier for customers to access and use shared vehicles. Another trend is the integration of car-sharing platforms with public transportation systems, allowing customers to seamlessly switch between different modes of transportation for their daily commute. This integration not only enhances the overall transportation experience but also promotes the use of shared vehicles as a viable alternative to private car ownership. Local special circumstances in ASEAN countries are also playing a role in the development of the Car-sharing market. Rapid urbanization and population growth in major cities have led to increased traffic congestion and limited parking spaces, making car ownership less practical and desirable. Furthermore, the high cost of owning a car, including upfront purchase costs, maintenance, and insurance, is a deterrent for many individuals, especially the younger generation who prioritize experiences over ownership. These local circumstances create a favorable environment for the growth of car-sharing services as a more affordable and convenient transportation option. Underlying macroeconomic factors, such as the growing middle class and increasing disposable income in ASEAN countries, also contribute to the development of the Car-sharing market. As more individuals have the financial means to afford transportation services, the demand for car-sharing services is expected to rise. Additionally, government initiatives and support for sustainable transportation solutions further drive the growth of the Car-sharing market in ASEAN. Governments are increasingly recognizing the importance of reducing carbon emissions and promoting sustainable transportation options, leading to favorable regulations and incentives for car-sharing companies. In conclusion, the Car-sharing market in ASEAN is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customers increasingly prioritize sustainability and convenience, car-sharing services are becoming a popular alternative to traditional car ownership. With the integration of car-sharing platforms with ride-hailing services and public transportation systems, as well as favorable local circumstances and government support, the Car-sharing market in ASEAN is poised for further expansion in the coming years.

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.