Car-sharing - Southeast Asia | Statista Market Forecast

By 2024, the projected revenue in Southeast Asia's Car-sharing market is expected to reach US$397.70m, with an estimated annual growth rate (CAGR 2024-2029) of 3.79%.
This growth is expected to result in a market volume of US$479.00m by 2029.
The number of users is predicted to increase to 4.05m users by 2029, with a user penetration of 0.5% in 2024 and 0.6% by 2029.
The average revenue per user (ARPU) is expected to be US$121.10.
Furthermore, by 2029, approximately 93% of the total revenue in the Car-sharing market will be generated through online sales.
It is noteworthy that in comparison to other countries, United States is anticipated to generate the highest revenue (US$3bn in 2024) in the global Car-sharing market.
Car-sharing is gaining popularity in Southeast Asian countries such as Singapore, Indonesia, and Malaysia due to increasing traffic congestion and a desire for more sustainable modes of transportation.

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 Southeast Asia is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Southeast Asia are shifting towards more sustainable and convenient transportation options. As the region becomes more urbanized and congested, people are looking for alternatives to owning a car. Car-sharing provides a flexible and cost-effective solution, allowing users to access a vehicle only when needed, without the hassle of maintenance, parking, and insurance. Trends in the market are also contributing to the growth of car-sharing in Southeast Asia. The rise of digital platforms and mobile applications has made it easier for customers to find and book car-sharing services. This technology-driven approach has increased accessibility and convenience, attracting more users to the market. Additionally, car-sharing companies are expanding their fleets and offering a wider range of vehicle options, including electric and hybrid cars, to cater to different customer preferences. Local special circumstances in Southeast Asia further support the development of the car-sharing market. The region has a large population, with a growing middle class and increasing urbanization. This demographic shift creates a large customer base for car-sharing services. Moreover, many cities in Southeast Asia face challenges such as limited parking space and traffic congestion, making car-sharing an attractive alternative to private car ownership. Underlying macroeconomic factors also play a role in the growth of the car-sharing market in Southeast Asia. The region has experienced rapid economic growth in recent years, leading to higher disposable incomes and increased consumer spending. As people become more affluent, they are willing to spend on convenience and experiences, including car-sharing services. Additionally, government initiatives and regulations promoting sustainable transportation and reducing carbon emissions are driving the adoption of car-sharing in the region. In conclusion, the Car-sharing market in Southeast Asia is growing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the region continues to urbanize and face challenges related to congestion and limited parking space, car-sharing provides a sustainable and convenient transportation solution. The rise of digital platforms and the expansion of car-sharing fleets further contribute to the market's development. With the support of government initiatives and the increasing affluence of the population, the car-sharing market in Southeast Asia 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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