Car-sharing - EU-27 | Statista Market Forecast

The Car-sharing market in EU-27 is predicted to attain a revenue of US$3.85bn in 2024.
The revenue is projected to exhibit a Compound Annual Growth Rate (CAGR 2024-2029) of 2.74%, which would result in an estimated market size of US$4.41bn by 2029.
By the same year, the number of users in the Car-sharing market is anticipated to reach 15.52m users.
In 2024, the user penetration in this market is expected to be 3.1%, which is expected to increase to 3.5% by 2029.
The Average Revenue Per User (ARPU) is expected to be US$275.20.
It is projected that 96% of the total revenue in this market will be generated through online sales by 2029.
According to global comparison, United States is expected to generate most of the revenue in the Car-sharing market, with an estimated revenue of US$3bn in 2024.
In Germany, car-sharing services have become a popular alternative to car ownership due to their convenience and affordability.

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 EU-27 is experiencing significant growth and development.

Customer preferences: Customers in the EU-27 are increasingly opting for car-sharing services due to several factors. Firstly, the rising awareness of environmental issues and the need to reduce carbon emissions has led to a shift towards more sustainable transportation options. Car-sharing provides an eco-friendly alternative to traditional car ownership, as it allows multiple users to share a single vehicle, thereby reducing the number of cars on the road. Secondly, the convenience and flexibility offered by car-sharing services are appealing to customers. With car-sharing, individuals can access a vehicle whenever they need it, without the hassle of maintenance, parking, or insurance. This flexibility is particularly attractive to urban dwellers who may not require a car on a daily basis.

Trends in the market: One of the key trends in the car-sharing market in the EU-27 is the emergence of peer-to-peer car-sharing platforms. These platforms connect car owners with individuals who need temporary access to a vehicle. This trend has gained traction due to the increasing popularity of the sharing economy and the desire for cost-effective transportation solutions. Peer-to-peer car-sharing allows car owners to monetize their idle vehicles, while renters can access a wider range of vehicles at competitive prices. Additionally, technological advancements have played a significant role in the growth of the car-sharing market. Mobile applications and online platforms have made it easier for customers to find and book car-sharing services, enhancing the overall user experience.

Local special circumstances: The car-sharing market in the EU-27 is influenced by several local special circumstances. Firstly, the high population density in many European cities has contributed to the demand for car-sharing services. Limited parking spaces and congestion make car ownership less practical, leading individuals to seek alternative transportation options. Additionally, the well-developed public transportation systems in many European countries have made car-sharing a viable complement to existing modes of transport. Car-sharing can be used for short trips or as a last-mile solution, enhancing the overall mobility options for individuals.

Underlying macroeconomic factors: The growth of the car-sharing market in the EU-27 is also influenced by underlying macroeconomic factors. The economic downturn and financial uncertainty in recent years have led individuals to seek cost-effective alternatives to car ownership. Car-sharing provides a more affordable option for those who do not want to bear the high costs associated with purchasing, maintaining, and insuring a vehicle. Furthermore, government policies and regulations aimed at reducing traffic congestion and promoting sustainable transportation have also contributed to the growth of the car-sharing market. Incentives such as dedicated car-sharing parking spaces and reduced parking fees have encouraged individuals to choose car-sharing over traditional car ownership. In conclusion, the Car-sharing market in EU-27 is experiencing significant growth and development due to customer preferences for sustainability and convenience, as well as the emergence of peer-to-peer platforms and technological advancements. Local special circumstances such as high population density and well-developed public transportation systems further contribute to the growth of the market. Underlying macroeconomic factors such as the economic downturn and government policies aimed at reducing congestion and promoting sustainability also play a role in the market's development.

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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