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Key regions: Europe, Germany, India, United States, Malaysia
The Car-sharing market in Portugal has been experiencing significant growth in recent years, driven by changing customer preferences and the emergence of new market trends.
Customer preferences: In Portugal, customers are increasingly looking for convenient and cost-effective transportation solutions. Car-sharing offers a flexible alternative to traditional car ownership, allowing individuals to access a vehicle when needed without the burdens of maintenance, insurance, and parking. This has been particularly appealing to younger generations who prioritize experiences over ownership and are more open to sharing economy models. Additionally, the growing awareness of environmental concerns has also contributed to the popularity of car-sharing, as it offers a more sustainable transportation option compared to individual car ownership.
Trends in the market: One of the key trends in the car-sharing market in Portugal is the rise of peer-to-peer car-sharing platforms. These platforms connect car owners with individuals in need of temporary transportation, allowing for a more efficient use of existing vehicles. This trend has gained traction due to the increasing trust in online platforms and the desire for a more personalized and local experience. Another trend is the integration of car-sharing services with other modes of transportation, such as public transit and ride-hailing. This seamless integration provides customers with a comprehensive mobility solution, allowing them to easily switch between different modes of transportation based on their needs.
Local special circumstances: Portugal's urban areas, such as Lisbon and Porto, have seen a surge in population density and traffic congestion in recent years. This has created a demand for alternative transportation options that can alleviate congestion and provide a more efficient use of limited parking spaces. Car-sharing has emerged as a viable solution to address these challenges, offering a convenient and sustainable way to move around the city. Additionally, Portugal's tourism industry has also contributed to the growth of the car-sharing market, as tourists often seek flexible transportation options to explore the country.
Underlying macroeconomic factors: The economic recovery in Portugal following the global financial crisis has played a role in the growth of the car-sharing market. As disposable incomes increase, individuals are more willing to spend on transportation services that offer convenience and flexibility. Furthermore, the government has implemented policies to promote sustainable transportation, including incentives for electric and hybrid vehicles. This has created a favorable environment for the development of car-sharing services, particularly those that offer electric or hybrid vehicles. In conclusion, the car-sharing market in Portugal is experiencing significant growth due to changing customer preferences, the emergence of new market trends, local special circumstances such as population density and tourism, and underlying macroeconomic factors such as economic recovery and government policies. These factors have created a favorable environment for the development of car-sharing services, offering individuals a convenient and sustainable transportation option.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)