Car-sharing - Turkey | Statista Market Forecast

It is projected that the revenue in the Car-sharing market in Turkey will reach US$71.89m by 2024.
Furthermore, the revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.02%, resulting in a projected market volume of US$87.56m by 2029.
As for the number of users in Turkey's Car-sharing market, it is expected to amount to 1.95m users by 2029.
The user penetration rate is projected to increase from 1.4% in 2024 to 2.2% by 2029.
Moreover, the average revenue per user (ARPU) is expected to be US$61.37.
In Turkey's Car-sharing market, it is anticipated that 93% of the total revenue will be generated through online sales by 2029.
It is noteworthy that United States is expected to generate the most revenue in the Car-sharing market globally, with an estimated revenue of US$3bn in 2024.
Despite the growing interest in car-sharing services in Turkey, the lack of infrastructure and regulations remains a significant challenge.

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 Turkey is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in Turkey are shifting towards more sustainable and cost-effective transportation options. As the population becomes more environmentally conscious, there is a growing demand for alternative modes of transportation that reduce carbon emissions. Car-sharing provides a solution by allowing individuals to access a vehicle when needed, without the burden of ownership and associated costs. Additionally, the younger generation in Turkey is more inclined towards sharing economy models, valuing experiences over possessions. This shift in mindset is driving the adoption of car-sharing services. Trends in the car-sharing market in Turkey are also contributing to its development. The emergence of digital platforms and smartphone applications has made it easier for individuals to access and book car-sharing services. These platforms provide a seamless user experience, allowing customers to find and reserve a vehicle with just a few taps on their smartphones. This convenience factor has significantly increased the popularity of car-sharing in Turkey. Furthermore, the availability of a wide range of vehicle options, from compact cars to SUVs, caters to the diverse needs and preferences of customers. Local special circumstances in Turkey are also driving the growth of the car-sharing market. The country has a large urban population, especially in major cities like Istanbul and Ankara, where traffic congestion and limited parking spaces are common issues. Car-sharing offers a practical solution for individuals who need occasional access to a vehicle without the hassle of finding parking or dealing with traffic. Additionally, the high cost of car ownership, including fuel, maintenance, and insurance, makes car-sharing an attractive alternative for many Turks. Underlying macroeconomic factors are also playing a role in the development of the car-sharing market in Turkey. The country has experienced steady economic growth in recent years, leading to an increase in disposable income for many individuals. This rise in income levels has made car-sharing more affordable and accessible to a larger segment of the population. Additionally, the government has implemented supportive policies and regulations to encourage the growth of the sharing economy, including car-sharing. These policies create a favorable environment for car-sharing companies to operate and expand their services in Turkey. In conclusion, the Car-sharing market in Turkey is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards more sustainable and cost-effective transportation options, the convenience of digital platforms, the urban population's need for practical transportation solutions, and the supportive policies and regulations all contribute to the positive trajectory of the car-sharing market in Turkey.

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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