Car-sharing - Sweden | Statista Market Forecast

Sweden's Car-sharing market is expected to generate a revenue of US$41.47m by 2024.
This revenue is projected to grow annually at a rate of 2.85%, resulting in a market volume of US$47.74m by 2029.
The number of users in this market is expected to reach 258.90k users by 2029, with a user penetration of 2.2% in 2024, which is expected to grow to 2.4% by 2029.
The average revenue per user (ARPU) is estimated to be US$180.60.
By 2029, online sales are expected to generate 96% of the total revenue in the Car-sharing market in Sweden.
In comparison to other countries, United States is projected to generate the most revenue with US$3bn in 2024.
Car-sharing in Sweden is growing in popularity due to the country's eco-consciousness and well-developed public transportation system.

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 Sweden has been experiencing significant growth in recent years. Customer preferences for more sustainable and cost-effective transportation options have driven the demand for car-sharing services. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: In Sweden, there is a growing trend towards sustainable transportation options. Customers are increasingly concerned about the environmental impact of traditional car ownership and are seeking more eco-friendly alternatives. Car-sharing provides a convenient and affordable solution for individuals who want to reduce their carbon footprint while still having access to a vehicle when needed. Furthermore, the younger generation, in particular, is more inclined towards sharing economy models and is open to trying out new mobility solutions.

Trends in the market: One of the key trends in the car-sharing market in Sweden is the rise of electric car-sharing services. With the government's strong focus on sustainability and the promotion of electric vehicles, car-sharing companies have been encouraged to include electric cars in their fleets. This trend not only aligns with customer preferences for eco-friendly transportation but also contributes to the overall reduction of greenhouse gas emissions in the country. Another trend in the market is the integration of car-sharing services with public transportation. Many car-sharing companies in Sweden have partnered with public transportation providers to offer seamless multimodal journeys. This integration allows customers to easily combine car-sharing with other modes of transportation, such as buses and trains, for a more efficient and convenient travel experience.

Local special circumstances: Sweden has a well-developed public transportation system, which includes an extensive network of buses, trains, and trams. This makes it easier for car-sharing companies to establish their services and attract customers who are already accustomed to using public transportation. The presence of reliable and efficient public transportation options also complements car-sharing by providing customers with alternative modes of travel for different occasions.

Underlying macroeconomic factors: The Swedish government has implemented several policies and incentives to promote the use of electric vehicles and reduce carbon emissions. These include tax exemptions, subsidies, and infrastructure investments. The favorable regulatory environment has created a conducive market for car-sharing companies to expand their electric vehicle fleets and attract more customers. Furthermore, the high cost of car ownership in Sweden, including taxes, insurance, and maintenance, has made car-sharing an attractive alternative for many individuals. By opting for car-sharing, customers can avoid the financial burden associated with owning a car while still enjoying the convenience of having access to a vehicle when needed. In conclusion, the Car-sharing market in Sweden is developing rapidly due to customer preferences for sustainable transportation options, trends such as the rise of electric car-sharing services and integration with public transportation, local special circumstances such as the presence of a well-developed public transportation system, and underlying macroeconomic factors including government policies and the high cost of car ownership.

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.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.