Key regions: Europe, Germany, India, United States, Malaysia
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.
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