Key regions: Europe, Germany, India, United States, Malaysia
The Car-sharing market in GCC has been experiencing significant growth in recent years, driven by changing customer preferences and the emergence of new market trends. Customer preferences in the Car-sharing market in GCC have shifted towards more sustainable and cost-effective transportation options. With increasing concerns about the environment and rising fuel costs, consumers are looking for alternatives to traditional car ownership. Car-sharing provides a convenient and affordable solution, allowing users to access a vehicle when needed without the hassle and expense of owning one. Trends in the Car-sharing market in GCC include the rise of ride-hailing platforms and the integration of car-sharing services into existing transportation networks. Ride-hailing platforms have gained popularity in the region, offering a convenient way for users to book a ride and share the cost with others. Car-sharing services have also been integrated into public transportation systems, allowing users to seamlessly switch between different modes of transportation. These trends have contributed to the growth of the Car-sharing market in GCC, as they provide users with more options and flexibility in their transportation choices. Local special circumstances in the Car-sharing market in GCC include the high population density in urban areas and the limited availability of parking spaces. In cities like Dubai and Riyadh, where the population is concentrated in small areas, car-sharing offers a practical solution for residents who do not own a car or prefer not to drive. Additionally, the limited availability of parking spaces in these cities makes car-sharing a more attractive option, as users do not have to worry about finding parking for their vehicles. Underlying macroeconomic factors that have contributed to the growth of the Car-sharing market in GCC include the region's rapid urbanization and the increasing number of young, tech-savvy consumers. As more people move to cities and rely on public transportation, the demand for car-sharing services is expected to increase. Furthermore, the younger generation in GCC is more open to using technology-based solutions for their transportation needs, making them more likely to adopt car-sharing services. In conclusion, the Car-sharing market in GCC is developing rapidly due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. As more consumers in the region seek sustainable and cost-effective transportation options, the demand for car-sharing services is expected to continue growing.
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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