Car-sharing - Finland | Statista Market Forecast

Finland is projected to see a revenue of US$94.66m in the Car-sharing market by 2024.
This is expected to result in an annual growth rate (CAGR 2024-2029) of 2.59%, with a projected market volume of US$107.60m by 2029.
By that time, the number of users is expected to amount to 225.30k users, with a projected user penetration of 4.0%.
The average revenue per user (ARPU) is expected to be US$459.50.
Furthermore, 96% of total revenue in the Car-sharing market is projected to be generated through online sales by 2029.
It is worth noting that, in global comparison, United States is expected to generate the most revenue (US$3bn in 2024).
In Finland, the Car-sharing market is on the rise with a growing number of urban residents opting for flexible and eco-friendly 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 Finland has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the increasing popularity of car-sharing in Finland is the changing preferences of customers. Many consumers are now more inclined towards sustainable and eco-friendly transportation options. Car-sharing provides an alternative to owning a car, which reduces the environmental impact and promotes a more sustainable lifestyle. Additionally, car-sharing offers convenience and flexibility to users who may not need a car on a daily basis but still require occasional access to one.

Trends in the market: The car-sharing market in Finland is witnessing several trends that contribute to its growth. Firstly, there has been an increase in the number of car-sharing providers in the country, offering a wide range of options to consumers. This increased competition has led to improved services and more affordable pricing, making car-sharing an attractive choice for many. Another trend in the market is the integration of technology. Car-sharing platforms now utilize mobile applications and advanced booking systems, making it easier for users to find and reserve cars. This technological integration has also enabled the implementation of features such as keyless entry and remote unlocking, enhancing the overall user experience.

Local special circumstances: Finland's unique geography and transportation infrastructure also play a role in the development of the car-sharing market. The country has a well-developed public transportation system, particularly in urban areas, which provides a viable alternative to car ownership. Additionally, Finland's high population density in certain regions makes car-sharing a convenient option for residents who may not have access to private vehicles.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the growth of the car-sharing market in Finland. The country has a high standard of living and a strong economy, which allows for increased disposable income among consumers. This financial stability enables individuals to explore alternative transportation options such as car-sharing. Furthermore, the government of Finland has implemented policies and incentives to promote sustainable transportation. These initiatives include tax benefits for electric and hybrid vehicles, as well as subsidies for car-sharing providers. Such support from the government encourages the growth of the car-sharing market and reinforces its position as a sustainable transportation solution. In conclusion, the car-sharing market in Finland is growing due to changing customer preferences, technological advancements, unique local circumstances, and supportive macroeconomic factors. As the demand for sustainable transportation options continues to rise, the car-sharing industry is expected to further expand 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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.