Car-sharing - Asia | Statista Market Forecast

By 2024, the projected revenue in the Car-sharing market in Asia is set to reach US$4.34bn.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.30%, resulting in a projected market volume of US$5.36bn by 2029.
The number of users in this market is estimated to reach 35.90m users by 2029, with a user penetration of 0.6% in 2024 and 0.8% by 2029.
The expected average revenue per user (ARPU) is US$149.80.
Furthermore, it is projected that 96% of the total revenue in the Car-sharing market in Asia will be generated through online sales by 2029.
In the global comparison, United States is set to generate the most revenue, with US$3bn in 2024.
In Japan, car-sharing services are gaining popularity in urban areas as an affordable and convenient alternative to owning a car.

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 Asia is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Asia are increasingly seeking convenient and cost-effective transportation options, leading to the rising popularity of car-sharing services. Many urban dwellers prefer not to own a car due to high costs associated with car ownership, such as parking fees and maintenance expenses. Instead, they opt for car-sharing services that provide on-demand access to vehicles without the hassle of ownership. Additionally, younger generations, who value experiences over possessions, are embracing the sharing economy and are more willing to use car-sharing services.

Trends in the market: One major trend in the car-sharing market in Asia is the growth of ride-hailing platforms that offer car-sharing services as an additional option. These platforms, such as Grab and Gojek, have already established a strong presence in the ride-hailing market and are leveraging their existing customer base to expand into car-sharing. By integrating car-sharing services into their platforms, they are able to offer a more comprehensive transportation solution to their users. Another trend is the increasing adoption of electric vehicles (EVs) in the car-sharing market. Governments in several Asian countries are implementing policies and incentives to promote the use of EVs as part of their efforts to reduce carbon emissions and combat air pollution. Car-sharing companies are taking advantage of these incentives by incorporating EVs into their fleets, providing customers with a sustainable and environmentally friendly transportation option.

Local special circumstances: Asia is a diverse region with varying levels of urbanization and infrastructure development. In highly urbanized areas such as Tokyo and Singapore, where traffic congestion is a significant issue, car-sharing services are in high demand as they offer a more efficient and convenient alternative to traditional car ownership. On the other hand, in less developed areas with limited public transportation options, car-sharing services can fill the transportation gap and provide mobility solutions to underserved communities.

Underlying macroeconomic factors: The rapid urbanization and economic growth in many Asian countries are driving the expansion of the car-sharing market. As more people move to cities and disposable incomes rise, the demand for convenient and affordable transportation options increases. Additionally, the growing middle class in Asia is becoming more mobile and seeking flexible transportation solutions, further fueling the growth of the car-sharing market. In conclusion, the Car-sharing market in Asia is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customer demand for convenient and cost-effective transportation options continues to rise, car-sharing services are poised to play a crucial role in the future of mobility in Asia.

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.