Car-sharing - Norway | Statista Market Forecast

Norway is projected to generate a revenue of US$80.49m in the Car-sharing market by 2024.
The revenue is predicted to exhibit an annual growth rate (CAGR 2024-2029) of 3.17%, resulting in a market volume of US$94.10m by 2029.
The number of Car-sharing market users is expected to reach 316.70k users by 2029, with a projected user penetration of 4.8% in 2024 and 5.5% in 2029.
The Average Revenue Per User (ARPU) is estimated to be US$302.10.
By 2029, 98% of the total revenue in the Car-sharing market will be generated through online sales.
In comparison with other countries worldwide, United States is expected to generate the highest revenue of US$3bn in 2024.
Norway's Car-sharing market is booming, with companies like Nabobil and Hertz offering a range of eco-friendly vehicles for short-term rentals.

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 Norway has been experiencing significant growth in recent years, driven by changing customer preferences and the emergence of new trends in the market. Customer preferences in the Car-sharing market in Norway have shifted towards more sustainable and convenient transportation options. With increasing concerns about the environment and a desire to reduce carbon emissions, many consumers are opting for car-sharing services as an alternative to traditional car ownership. Additionally, the convenience of being able to access a car on-demand without the hassle of maintenance and parking has also contributed to the growing popularity of car-sharing in Norway. One of the key trends in the Car-sharing market in Norway is the rise of electric car-sharing services. Norway has been at the forefront of the electric vehicle revolution, with a high adoption rate of electric cars in the country. This trend has extended to the car-sharing market, with many car-sharing providers in Norway offering electric vehicles as part of their fleet. This not only aligns with the country's commitment to reducing carbon emissions but also caters to the growing demand for electric vehicles among consumers. Another trend in the Car-sharing market in Norway is the integration of car-sharing services with other modes of transportation. Many car-sharing providers in Norway have partnered with public transportation companies to offer seamless travel experiences for consumers. This integration allows users to easily switch between different modes of transportation, such as taking a train or bus and then using a car-sharing service to complete their journey. This trend reflects the increasing emphasis on multimodal transportation and the desire for a more connected and efficient transportation system. Local special circumstances in Norway have also contributed to the development of the Car-sharing market. The high cost of car ownership, including taxes, insurance, and parking fees, has made car-sharing an attractive alternative for many Norwegians. Additionally, the country's well-developed infrastructure and high internet penetration rate have created a favorable environment for the growth of car-sharing services. Underlying macroeconomic factors, such as the country's strong economy and high disposable income levels, have also played a role in the growth of the Car-sharing market in Norway. With a prosperous economy, consumers in Norway have the financial means to afford car-sharing services and are willing to pay for the convenience and flexibility they offer. In conclusion, the Car-sharing market in Norway is experiencing growth due to changing customer preferences, the emergence of new trends, local special circumstances, and underlying macroeconomic factors. As consumers in Norway increasingly prioritize sustainability and convenience, car-sharing services are becoming a popular choice for transportation. The integration of electric vehicles and partnerships with public transportation providers further enhance the appeal of car-sharing in Norway. With favorable local conditions and a strong economy, the Car-sharing market in Norway is expected to continue its upward trajectory.

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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