Car-sharing - Israel | Statista Market Forecast

The Car-sharing market in Israel is projected to reach a revenue of US$66.88m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 7.58%, which will result in a projected market volume of US$96.40m by 2029.
The number of users in this market is also expected to increase, reaching 442.90k users by 2029.
The user penetration rate is projected to be 3.3% in 2024 and 4.4% by 2029.
The average revenue per user (ARPU) is expected to be US$214.70.
Moreover, it is projected that 91% of the total revenue in the Car-sharing market in Israel will be generated through online sales by 2029.
When compared globally, it is noteworthy that United States is expected to generate the most revenue in this market, amounting to US$3bn in 2024.
Car-sharing services like Car2Go and Gett are gaining popularity in Israel, as the country continues to adopt innovative transportation solutions.

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 Israel has experienced significant growth in recent years, driven by changing customer preferences and the unique local circumstances of the country.

Customer preferences: In Israel, there has been a growing trend towards shared mobility solutions, including car-sharing. This can be attributed to several factors. Firstly, the high cost of car ownership in the country has led many consumers to seek more cost-effective alternatives. Car-sharing provides a convenient and affordable option for those who only need a vehicle occasionally or for short periods of time. Additionally, the younger generation in Israel is increasingly opting for shared mobility services over traditional car ownership, as they prioritize convenience and flexibility.

Trends in the market: One of the key trends in the car-sharing market in Israel is the emergence of electric car-sharing services. With the government's push towards reducing carbon emissions and promoting sustainable transportation, there has been a significant increase in the number of electric vehicles (EVs) available for car-sharing. This trend is in line with the global shift towards electric mobility and reflects the growing demand for environmentally-friendly transportation options. Another trend in the market is the integration of car-sharing services with other modes of transportation. Many car-sharing providers in Israel are partnering with public transportation companies to offer seamless multimodal journeys. This allows customers to easily combine car-sharing with other forms of transportation, such as buses or trains, to reach their destinations more efficiently. This integration of different transportation modes is aimed at providing customers with a comprehensive and convenient mobility solution.

Local special circumstances: Israel's relatively small size and dense population contribute to the success of car-sharing services in the country. The compact nature of cities like Tel Aviv and Jerusalem makes it easier for car-sharing providers to establish a network of vehicles that can serve a large number of customers. Additionally, the high population density means that there is a greater demand for alternative transportation options, as traditional car ownership can be more challenging in congested urban areas.

Underlying macroeconomic factors: The Israeli government has implemented several policies and initiatives to support the growth of the car-sharing market. These include providing incentives for the purchase of electric vehicles, such as tax exemptions and reduced parking fees. These incentives have encouraged both car-sharing providers and consumers to adopt electric mobility solutions, further driving the growth of the market. In conclusion, the car-sharing market in Israel is experiencing significant growth due to changing customer preferences, the emergence of electric car-sharing services, the integration of car-sharing with other modes of transportation, and the unique local circumstances of the country. The government's support for sustainable transportation and the high cost of car ownership have also played a role in driving the growth of the market.

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.