Key regions: Europe, Germany, India, United States, Malaysia
The Car-sharing market in EMEA is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Customers in the EMEA region are increasingly opting for car-sharing services due to various reasons. Firstly, car-sharing offers a cost-effective alternative to traditional car ownership, allowing individuals to save money on car maintenance, insurance, and parking fees. Additionally, car-sharing provides convenience and flexibility, as users can easily access a vehicle when needed without the hassle of owning and maintaining a car. Furthermore, the younger generation, in particular, is more inclined towards sustainable and eco-friendly transportation options, making car-sharing an attractive choice.
Trends in the market: One of the major trends in the car-sharing market in EMEA is the rise of electric car-sharing services. With the increasing focus on sustainability and reducing carbon emissions, many car-sharing companies are incorporating electric vehicles into their fleets. This trend is driven by government incentives and regulations promoting electric mobility, as well as the growing availability of charging infrastructure. Another trend is the integration of car-sharing services with other modes of transportation, such as ride-hailing and public transit, to provide a seamless and comprehensive mobility solution. This integration allows customers to easily switch between different modes of transportation based on their needs and preferences.
Local special circumstances: The car-sharing market in EMEA is influenced by specific local circumstances in different countries and regions. For example, in densely populated urban areas with limited parking spaces, car-sharing becomes a more attractive option for residents who do not want the hassle of finding parking. Additionally, in countries with high levels of congestion and traffic, car-sharing provides a convenient alternative to driving a personal vehicle, reducing overall traffic congestion and improving air quality. Furthermore, in areas with a high concentration of tourists, car-sharing services cater to the needs of visitors who require temporary transportation during their stay.
Underlying macroeconomic factors: Several macroeconomic factors contribute to the growth of the car-sharing market in EMEA. Firstly, the increasing urbanization and population density in many cities drive the demand for alternative transportation solutions. As cities become more crowded, the need for efficient and sustainable mobility options becomes more pressing. Additionally, the growing awareness and concern about environmental issues, such as air pollution and climate change, are driving the adoption of car-sharing services as a greener transportation alternative. Furthermore, advancements in technology and the widespread use of smartphones have made it easier for customers to access and use car-sharing services, further fueling market growth. In conclusion, the car-sharing market in EMEA is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards car-sharing is driven by cost savings, convenience, and sustainability concerns, and is supported by the integration of electric vehicles and the integration of car-sharing with other transportation modes. The market's growth is further propelled by local factors such as limited parking spaces, high congestion levels, and tourist demand. Overall, the car-sharing market in EMEA is poised for continued 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.
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