Car-sharing - Uruguay | Statista Market Forecast

The Car-sharing market in Uruguay is expected to see a significant increase in revenue, with projections indicating a rise to US$1.84m by 2024.
This growth is expected to continue, with an estimated annual growth rate (CAGR 2024-2029) of 4.60%, resulting in a projected market volume of US$2.30m by 2029.
In terms of users, the Car-sharing market is expected to have 18.70k users users by 2029, with a projected user penetration of 0.5% in 2024 and 0.5% by 2029.
The average revenue per user (ARPU) is expected to be US$110.30.
The online sales channel is expected to generate 83% of total revenue by 2029.
It is noteworthy that, in a global comparison, United States is expected to generate the highest revenue (US$3bn in 2024) in the Car-sharing market.
Uruguay's Car-sharing market is gaining popularity as urban residents seek affordable and sustainable transportation options.

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 Uruguay has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: Uruguayans are increasingly looking for convenient and cost-effective transportation options, which has led to a rise in demand for car-sharing services. Many customers are opting for car-sharing as a flexible and affordable alternative to owning a car. The convenience of being able to access a vehicle whenever needed, without the hassle of maintenance and parking, is particularly appealing to urban dwellers. Additionally, the younger generation, who are more environmentally conscious and value experiences over ownership, are also driving the demand for car-sharing services.

Trends in the market: One of the key trends in the car-sharing market in Uruguay is the adoption of electric vehicles (EVs). As the government promotes sustainable transportation solutions and invests in EV infrastructure, car-sharing companies are increasingly incorporating electric vehicles into their fleets. This trend not only aligns with customer preferences for environmentally-friendly options but also helps to reduce operational costs for car-sharing companies in the long run. Another trend in the market is the integration of car-sharing services with mobile applications. Customers can easily book, unlock, and pay for car-sharing services through their smartphones, making the process seamless and convenient. This technological advancement has further contributed to the growth of the car-sharing market in Uruguay, as it appeals to tech-savvy customers who value convenience and efficiency.

Local special circumstances: Uruguay's relatively small size and well-developed public transportation system make it an ideal market for car-sharing services. The compact nature of the country allows for shorter distances and quicker travel times, making car-sharing a viable option for both short trips within cities and longer journeys between towns. Additionally, the high population density in urban areas, such as Montevideo, creates a strong demand for car-sharing services as an alternative to owning a car.

Underlying macroeconomic factors: Uruguay's stable economy and increasing disposable income have also contributed to the growth of the car-sharing market. As more people have the means to afford transportation services, they are more likely to consider car-sharing as a cost-effective option. Furthermore, the government's efforts to promote sustainable transportation and reduce congestion on the roads have created a favorable environment for the expansion of car-sharing services. In conclusion, the car-sharing market in Uruguay is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience, affordability, and environmental benefits of car-sharing services have made them increasingly popular among Uruguayans, especially in urban areas. As the market continues to evolve, it is expected that car-sharing services will play an even larger role in the transportation landscape of Uruguay.

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.