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Europe Car Sharing Market to reach USD 4 bn by 2024

Author: Madhuri Pawar
by Madhuri Pawar
Posted: Dec 10, 2018

Graphical Research presents a most up-to-date report on Europe Car Sharing Market is set to surpass USD 4 billion by 2024. The market growth is expected to accelerate over the forecast timespan, due to the benefits of these services such as reduced pollution and traffic congestion. High costs of vehicle ownership in the region are driving the demand for these services. Costs, such as car ownership, taxes, owning a driver license, and vehicle maintenance, are further propelling the industry growth.

Car sharing market growth will gain momentum over the forecast timespan due to a broad range of service options with a diverse range of customer experiences and differentiated price points as compared to other mobility options. These services allow flexibility to customers such as distance traveled and integration with public transit systems.

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Based on the model, the free-floating car sharing market is expected to witness a rapid growth due to newness of the industry and a high degree of flexibility in terms of dropping off the vehicle wherever it is suitable for the driver. These services are mainly used for shorter traveling distances, providing a cost-effective option as an alternative to taxies. However, these services are expensive as compared to station-based services and operate mainly in city areas.

The tedious and time-consuming registration processes for these services are expected to restrict the car sharing market growth. For instance, Car2Go app in Germany requires several steps for registration and Fiat-powered Enjoy does not allow registration via mobile phones. Furthermore, the competition from services such as car rental and ride hailing are expected to restrain the industry growth.

Key players in the Europe car sharing market include Autolib, Flinkster, DriveNow, Car2Go, Tamyca, and CarUnity. The industry is characterized by the presence of several players in addition to the several vehicle manufacturers such as BMW entering the car sharing market. Mergers and acquisitions are among the most common strategies adopted by these players. For instance, the merger between DriverNow and Car2Go will enable these companies to tackle the competition from established players such as Europcar.

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Segments We Cover:

Europe Car Sharing Market by Business Model

Round-trip

One way

Europe Car Sharing Market by Model

P2P

Station-based

Free-floating

Europe Car Sharing Market by Application

Business

Private

The above information has been provided for the following countries:

UK

Germany

France

Italy

Spain

Russia

Turkey

Browse more insights from this report @ https://www.graphicalresearch.com/industry-insights/1003/europe-car-sharing-market

Related Reports:

  1. North America Car Sharing Market Size by Model (P2P, Station-Based, Free-Floating), Business Model (Round Trip, One Way), By Application (Business, Private), Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024
  2. Asia Pacific Car Sharing Market Size by Model (P2P, Station-Based, Free-Floating), Business Model (Round Trip, One Way), By Application (Business, Private), Industry Analysis Report, Regional Outlook (China, Japan, South Korea, India, Taiwan, Malaysia, Singapore, Australia), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services.

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Author: Madhuri Pawar

Madhuri Pawar

Flag of India
India

Member since: Sep 06, 2018
Total live articles: 33

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