Car-sharing - Taiwan | Statista Market Forecast

In Taiwan, the Car-sharing market is expected to generate a revenue of US$81.99m in 2024.
The revenue is anticipated to grow annually at a rate of 1.86% between 2024 and 2029, resulting in a market volume of US$89.89m by 2029.
The number of users in the Car-sharing market is projected to reach 624.40k users by 2029, while the user penetration is estimated to increase from 2.5% in 2024 to 2.6% by 2029.
The average revenue per user (ARPU) is expected to be US$139.40.
By 2029, 95% of the total revenue in the Car-sharing market will be generated through online sales.
Notably, in global comparison, United States is anticipated to generate the most revenue, with US$3bn in 2024.
Taiwan's Car-sharing market is growing rapidly, with the government's support for eco-friendly 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 Taiwan has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances. Customer preferences in Taiwan have shifted towards more sustainable and cost-effective transportation options, which has contributed to the growth of the Car-sharing market. With increasing concerns about pollution and traffic congestion, many consumers are opting for shared mobility solutions as an alternative to owning a private vehicle. Car-sharing provides a convenient and flexible transportation option, allowing users to access a vehicle when needed without the costs and responsibilities associated with ownership. Additionally, the younger generation in Taiwan, who prioritize experiences over ownership, are embracing the concept of Car-sharing as a lifestyle choice. Trends in the Car-sharing market in Taiwan reflect global and regional patterns. The rise of digital platforms and smartphone applications has made it easier for consumers to access and book Car-sharing services. This technology-driven trend has also facilitated the growth of peer-to-peer Car-sharing, where individuals can rent out their own vehicles to others. Furthermore, the integration of Car-sharing services with other forms of transportation, such as public transit and ride-hailing, has created a seamless and multi-modal travel experience for users. Local special circumstances in Taiwan have also played a role in the development of the Car-sharing market. The island's limited land area and dense urban population make private car ownership less practical and desirable for many residents. Additionally, the government has implemented policies and incentives to promote sustainable transportation, including Car-sharing. These initiatives include the establishment of dedicated Car-sharing parking spaces and the provision of subsidies for electric and hybrid Car-sharing vehicles. Such support from the government has helped to create a favorable environment for Car-sharing operators to thrive in Taiwan. Underlying macroeconomic factors have also contributed to the growth of the Car-sharing market in Taiwan. The country's strong economy and high disposable income levels have increased consumer spending power, making Car-sharing a more viable option for many individuals. Moreover, the increasing urbanization and congestion in major cities have made Car-sharing an attractive solution for commuters and residents looking to avoid the hassles of driving and parking. Overall, the Car-sharing market in Taiwan is experiencing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As more consumers embrace shared mobility and the government continues to support sustainable transportation initiatives, the Car-sharing market in Taiwan 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.

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