Car-sharing - New Zealand | Statista Market Forecast

In New Zealand, the Car-sharing market is expected to experience significant growth, with projected revenue of US$147.60m in 2024.
This is expected to result in an annual growth rate of 3.48% (CAGR 2024-2029), leading to a projected market volume of US$175.10m by 2029.
The number of users in this market is expected to reach 406.80k users by 2029, with a user penetration rate of 6.4% in 2024 and 7.4% by 2029.
The average revenue per user (ARPU) is projected to be US$434.80.
By 2029, online sales are expected to generate 99% of the total revenue in this market.
It is worth noting that, in global comparison, United States is projected to generate the highest revenue, with a value of US$3bn in 2024.
Car-sharing in New Zealand is gaining popularity as more urban residents seek cost-effective and environmentally-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 New Zealand has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In New Zealand, customers are increasingly looking for convenient and cost-effective transportation options. Car-sharing provides them with the flexibility to use a vehicle as and when needed, without the burden of ownership. This appeals to a wide range of customers, including urban dwellers who may not need a car on a daily basis, tourists who want to explore the country at their own pace, and individuals looking for a more sustainable mode of transportation.

Trends in the market: One of the key trends in the car-sharing market in New Zealand is the rise of app-based platforms. These platforms allow customers to easily locate and book available cars, making the entire process seamless and efficient. Additionally, there has been a growing trend towards electric car-sharing services, as New Zealand aims to transition to a more sustainable and environmentally friendly transportation system. This trend is further supported by the government's initiatives to promote electric vehicles and reduce carbon emissions.

Local special circumstances: New Zealand's unique geography and tourist attractions make it an ideal market for car-sharing services. The country is known for its stunning landscapes, national parks, and scenic drives, which attract a large number of domestic and international tourists. Car-sharing allows these tourists to explore the country at their own pace, without the need to rely on public transportation or traditional car rental services. Furthermore, the relatively small population and high car ownership costs in New Zealand make car-sharing an attractive alternative for individuals who do not want to bear the expenses of owning a car.

Underlying macroeconomic factors: The growing car-sharing market in New Zealand is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. This, coupled with a shift towards more sustainable and eco-friendly practices, has created a favorable environment for the car-sharing industry to thrive. Furthermore, the government's support for electric vehicles and the development of charging infrastructure has played a significant role in promoting the adoption of electric car-sharing services. In conclusion, the car-sharing market in New Zealand is witnessing rapid growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience, cost-effectiveness, and sustainability of car-sharing services have made them a popular choice among a wide range of customers. As the market continues to evolve, it is expected to further expand and diversify, offering more options and benefits to consumers.

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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