Car-sharing - Chile | Statista Market Forecast

Chile is expected to see impressive growth in the Car-sharing market.
By 2024, the projected revenue is estimated to reach US$26.21m.
The market volume is expected to increase to US$33.44m by 2029, showing a Compound Annual Growth Rate (CAGR) of 5.00% during 2024-2029.
Furthermore, the number of users in the Car-sharing market is expected to rise to 259.10k users by 2029.
It is projected that user penetration will increase from 1.1% in 2024 to 1.3% by 2029.
Additionally, the average revenue per user (ARPU) is expected to be US$126.40.
In terms of revenue generated through online sales, it is estimated that 93% of the total revenue will come from online sales by 2029.
Interestingly, United States is expected to be the country generating the most revenue in the Car-sharing market, with a projected revenue of US$3bn in 2024, in comparison to in Chile.
Chilean car-sharing companies are gaining traction among environmentally conscious urbanites seeking affordable transportation 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 Chile is experiencing significant growth and development.

Customer preferences: Customers in Chile are increasingly looking for convenient and cost-effective transportation options. Car-sharing provides a flexible and affordable alternative to owning a car, allowing users to access vehicles on-demand without the hassle of maintenance, insurance, and parking. This appeals to a wide range of customers, including urban dwellers, young professionals, and tourists who prefer to use shared vehicles for short trips or occasional use.

Trends in the market: One of the key trends in the car-sharing market in Chile is the rise of app-based platforms. These platforms connect car owners with individuals in need of transportation, allowing for easy and efficient booking and payment processes. This has significantly increased the accessibility and convenience of car-sharing services, attracting more customers and driving market growth. Another trend in the market is the expansion of car-sharing services to include electric vehicles. With increasing concerns about environmental sustainability and a growing focus on reducing carbon emissions, many car-sharing companies in Chile are incorporating electric vehicles into their fleets. This not only helps to reduce the environmental impact of transportation but also appeals to environmentally conscious customers who prefer eco-friendly options.

Local special circumstances: Chile's urban centers, such as Santiago, face challenges related to traffic congestion and limited parking space. Car-sharing offers a solution to these issues by reducing the number of private vehicles on the road and optimizing parking utilization. This is particularly appealing to urban residents who can benefit from shared mobility options without the burden of car ownership.

Underlying macroeconomic factors: Chile has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has contributed to the growth of the car-sharing market as more individuals are able to afford and access these services. Additionally, the government of Chile has implemented policies and incentives to promote sustainable transportation, including car-sharing. These initiatives have created a favorable environment for the development and expansion of the car-sharing market in the country. In conclusion, the car-sharing market in Chile is growing due to customer preferences for convenient and cost-effective transportation options, trends such as app-based platforms and the incorporation of electric vehicles, local special circumstances such as traffic congestion and limited parking space in urban areas, and underlying macroeconomic factors such as economic growth and government support for sustainable transportation.

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.