Ocean View, DE -- (SBWIRE) -- 06/15/2020 -- The increasing popularity of urban mobility solutions to deal with problem of traffic congestion is anticipated to be the key factor driving the car sharing market growth. The rising inclination toward shared ownership of vehicles in order to restrict the effects of harmful carbon emissions would further instigate the overall market development over the forthcoming timeframe.

Meanwhile, factors like rapid growth of the urban sector and lack of public transportation across developing countries have strengthen the idea of car sharing. Public transports are usually overcrowded and are witnessing a heavy rise in the number of passengers as the population rises. This has compelled various commuters to explore the idea of alternative transport facilities like cab sharing or car sharing services.

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However, the recent COVID-19 outbreak could disrupt the car sharing industry growth, as a majority of large and small enterprises across Europe, North America and Asia are forced to temporarily close down their operations. Government-initiated lockdowns could further impede business growth.

The Major Key Players in the car sharing market are as follows: Autolib, Car2Go, Cambio CarSharing, Cityhop, Communauto Inc, DriveNow GmbH & Co. KG, Getaround, Inc., CarShare Australia, Carrotshare, Ekar Fz LLC, Hertz Corporation, Hour Car, Locomute (Pty) Ltd, Lyft, Inc, Mobility carsharing, Modo Co-operative, Orix Corporation, Peg City Car Co-op, Regina Car Share Co-operative, Turo Inc., Zipcar, Inc

car sharing service providers are gradually adopting the free-floating model as it allows users to access and book on-demand services that suit their requirements. Escalating shift towards electric vehicles and surging investments across charging infrastructures could boost the growth prospects of private car sharing businesses. Taking July 2019 for instance, Electrify America, an energy company, revealed its intention to invest almost USD 2 billion in Zero Emission Vehicle (ZEV) infrastructure.

Availability of a wide range of vehicle options coupled with promising customization prospects of car sharing services could fuel the demand for station-based car sharing services. These services demand users to drop-off their selected vehicle back to the pickup point situated somewhere near the station.

They offer numerous benefits like advanced booking options and improved accessibility due to designated free parking spots. Besides, station-based services enable users to lease vehicles with an option to pay by the hour for long-distance commutes. This helps customers to save a fortune on vehicle reallocation costs that are usually borne in one-way car sharing services.

Companies operating in the car sharing market are constantly working on developing their customer bases and geographical presence by implementing partnership and merger deals.

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Citing an instance, back in November 2019, Hyundai introduced its latest car sharing service dubbed Mocean Carshare, in collaboration with French technology provider Vulog. Currently, Lyft, Inc., Orix Corporation, Turo, Inc., Regina Car Share Co-operative, Car2Go, Autolib, Communauto Inc., Getaround, Inc., Zipcar, Inc., CarShare Australia, DriveNow GmbH & Co. KG, and Carrotshare, Hour Car are some of the leading players in the car sharing market.

Some Points From Table Of Content: -

Chapter 4. Car Sharing Market, By Business Model
4.1. Key trends car sharing market by business model
4.2. Round trip
4.2.1. Market estimates and forecast, 2015 – 2026
4.3. One way
4.3.1. Market estimates and forecast, 2015 – 2026

Chapter 5. Car Sharing Market, By Model
5.1. Key trends car sharing market by model
5.2. P2P
5.2.1. Market estimates and forecast, 2015 – 2026
5.3. Station-based
5.3.1. Market estimates and forecast, 2015 – 2026
5.4. Free-floating
5.4.1. Market estimates and forecast, 2015 – 2026

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