Key regions: Europe, Germany, India, United States, Malaysia
The Car-sharing market in BRICS is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Car-sharing market in BRICS are shifting towards more sustainable and convenient transportation options. With increasing concerns about environmental sustainability and the rising cost of car ownership, consumers are looking for alternative modes of transportation that are cost-effective and eco-friendly. Car-sharing services provide a flexible and affordable solution, allowing customers to access a vehicle when needed without the burden of ownership. Trends in the Car-sharing market vary across the BRICS countries. In Brazil, for example, the market is driven by the growing urban population and the need for efficient transportation in congested cities. Car-sharing services are becoming popular among young professionals and students who prefer the convenience of on-demand transportation. In Russia, the market is driven by the rise of ride-hailing platforms and the increasing popularity of shared mobility. Car-sharing services are seen as a complement to existing transportation options, providing an additional choice for users. Local special circumstances also play a role in the development of the Car-sharing market in BRICS. In China, for instance, the government has implemented policies to promote the use of electric vehicles and reduce air pollution. This has created opportunities for car-sharing companies to offer electric vehicles as part of their fleet, attracting environmentally conscious customers. In India, the market is driven by the growing middle class and the need for affordable transportation solutions. Car-sharing services provide a cost-effective alternative to car ownership, particularly in congested cities where parking is limited. Underlying macroeconomic factors also contribute to the growth of the Car-sharing market in BRICS. Economic growth and urbanization are driving the demand for transportation services, creating a favorable environment for car-sharing companies to expand their operations. Additionally, advancements in technology and the widespread use of smartphones have made it easier for consumers to access and use car-sharing services. The availability of mobile apps and online platforms has simplified the booking process and enhanced the overall customer experience. In conclusion, the Car-sharing market in BRICS is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As more consumers seek sustainable and convenient transportation options, car-sharing services are becoming increasingly popular across the BRICS countries. The market is expected to continue expanding as new players enter the industry and existing companies innovate to meet the evolving needs of customers.
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.
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