Car-sharing - Denmark | Statista Market Forecast

Denmark is projected to see a revenue of US$50.66m in the Car-sharing market by 2024.
The revenue is expected to grow annually at a rate of 2.66% (CAGR 2024-2029), resulting in a projected market volume of US$57.75m by 2029.
The number of users in the Car-sharing market is estimated to reach 298.80k users by 2029, with a user penetration of 4.5% in 2024 and 4.9% by 2029.
The average revenue per user (ARPU) is expected to be US$191.50.
By 2029, 93% of the total revenue in the Car-sharing market will be generated through online sales.
It is worth noting that in the global comparison, United States is expected to generate the most revenue (US$3bn in 2024) in the Car-sharing market.
Car-sharing is increasingly popular in Denmark, with services like GreenMobility and ShareNow providing convenient and sustainable transportation options for urban residents.

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 Denmark is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Denmark are increasingly opting for car-sharing services due to their convenience and cost-effectiveness. Car-sharing allows individuals to access a vehicle when needed without the hassle of owning one. This is particularly appealing to urban dwellers who may not require a car on a daily basis but still need one for occasional trips or errands. Additionally, car-sharing services often offer a range of vehicle options, allowing customers to choose a vehicle that suits their specific needs.

Trends in the market: One major trend in the car-sharing market in Denmark is the shift towards electric vehicles (EVs). As Denmark aims to become carbon-neutral by 2050, there is a strong focus on promoting sustainable transportation options. Car-sharing companies are increasingly adding EVs to their fleets, providing customers with access to environmentally friendly vehicles. This trend is supported by the growing availability of charging infrastructure across the country. Another trend in the market is the emergence of peer-to-peer car-sharing platforms. These platforms connect vehicle owners with individuals in need of a car, allowing for more efficient utilization of existing vehicles. This trend is driven by the desire for increased sustainability and cost savings, as vehicle owners can offset the costs of ownership by renting out their cars when not in use.

Local special circumstances: Denmark has a well-developed public transportation system, with extensive bus and train networks. This, coupled with a strong cycling culture, means that many Danes do not rely on cars for their daily commute or short trips. However, there are still instances where a car is necessary, such as traveling to rural areas or transporting large items. Car-sharing provides a flexible and convenient solution for these situations, allowing individuals to access a car when needed without the commitment of ownership.

Underlying macroeconomic factors: Denmark has a strong economy with high levels of disposable income. This allows individuals to have the financial means to utilize car-sharing services, which often require a membership fee or pay-per-use charges. Additionally, the government in Denmark has implemented policies and incentives to promote sustainable transportation, including tax breaks for EVs and investments in charging infrastructure. These factors contribute to the growth of the car-sharing market in Denmark. In conclusion, the car-sharing market in Denmark is driven by customer preferences for convenience and cost-effectiveness, as well as the country's focus on sustainability. The shift towards electric vehicles and the emergence of peer-to-peer platforms are key trends in the market. The well-developed public transportation system and strong cycling culture in Denmark also contribute to the demand for car-sharing services. Overall, the car-sharing market in Denmark is expected to continue its growth and development 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.

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