Car-sharing - Southern Africa | Statista Market Forecast

Southern Africa is projected to reach a revenue of US$1.14m in 2024 in the Car-sharing market.
It is expected to display an annual growth rate (CAGR 2024-2029) of 4.33%, which will result in a projected market volume of US$1.41m by 2029.
The number of users in the Car-sharing market is anticipated to reach 39.16k users by 2029.
User penetration is expected to be 0.0% in 2024, and it is projected to increase to 0.1% by 2029.
The anticipated average revenue per user (ARPU) is US$35.53.
By 2029, 82% of the total revenue in the Car-sharing market will be generated through online sales.
In global comparison, United States is projected to generate the most revenue, with US$3bn in 2024.
Car-sharing services are gaining popularity in Southern Africa, especially in urban centers like Johannesburg and Cape Town.

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 Southern Africa is experiencing significant growth and development. Customer preferences in the Car-sharing market in Southern Africa are driven by several factors. Firstly, there is a growing demand for convenient and cost-effective transportation options. Car-sharing provides an affordable alternative to traditional car ownership, allowing customers to access a vehicle when needed without the financial burden of purchasing and maintaining their own car. Additionally, the rise of ride-hailing platforms has made it easier for customers to access car-sharing services, further fueling the demand. Trends in the Car-sharing market in Southern Africa include the emergence of local startups and the expansion of international players. Local startups are capitalizing on the demand for car-sharing services by offering innovative solutions tailored to the needs of the local population. These startups often focus on providing services in urban areas where public transportation options may be limited. At the same time, international players are entering the market, bringing their expertise and resources to further drive growth and competition. Local special circumstances in Southern Africa, such as a lack of reliable public transportation infrastructure in some areas, contribute to the growth of the Car-sharing market. Many cities in the region suffer from traffic congestion and limited public transportation options, making car-sharing an attractive alternative for residents. Additionally, the rise of the sharing economy and the increasing popularity of sustainability and environmental consciousness are also driving the demand for car-sharing services. Underlying macroeconomic factors, such as rising urbanization and a growing middle class, are also contributing to the development of the Car-sharing market in Southern Africa. As more people move to cities and experience an increase in disposable income, the demand for convenient transportation options is expected to rise. Furthermore, the increasing focus on sustainable and environmentally-friendly transportation solutions aligns with the goals of many governments in the region, leading to supportive policies and initiatives that promote the growth of the Car-sharing market. In conclusion, the Car-sharing market in Southern Africa is experiencing significant growth and development due to customer preferences for convenient and cost-effective transportation options, the emergence of local startups and the expansion of international players, local special circumstances such as a lack of reliable public transportation infrastructure, and underlying macroeconomic factors such as urbanization and a growing middle class.

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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