Car Sharing Market 2024 By Growth, Application, Model & Regional Forecast
Category: #tech  By Partha Ray  Date: 2019-07-10
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Car Sharing Market 2024 By Growth, Application, Model & Regional Forecast

MarketStudyReport.com Adds New Car Sharing Market 2018 – 2024 research report providing information and data By Model, By Business Model, By Application, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 227 Pages with table and figures in it.

Europe car sharing market is expected to witness a significant growth due to the increasing awareness regarding these services among people and increasing government support. Under Initiativa Car Sharing, the government of Italy provides an extensive support to the players in the industry including incentives for drivers such as free parking in city centers and access to low emission zones. London Municipality, in association with the Transport for London (TfL), has introduced Car Clubs Strategy to support local clubs to penetrate the industry. The local authorities actively promote the use of these services and their benefits to the consumers.

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Car sharing market is projected to witness growth due to the benefits experienced by the users such as reduction in costs incurred including the purchase of vehicles, parking, insurance, fuel, maintenance, etc. The users can avoid the fixed costs of ownership by accessing the vehicles on the pay-per-use basis. Furthermore, the environmental benefits due to traffic congestion are attracting customers to these services. In March 2014, Paris imposed a partial vehicle ban due to persistent air pollution above the stipulated European standards. During this time, the city has granted access to only car sharing and public transport vehicles.

Car Sharing Market is projected to surpass USD 11 billion by 2024. Increasing initiatives by the government to increase the usage of these services are expected to be one of the major factors driving the car sharing market growth. In July 2017, the ministry of transport of China drafted a policy to provide incentives to the users of these services, such as preferential parking slots & rates. Increasing government support is encouraging the implementation of these services with the traditional transportation modes. For instance, the local public transport operator in Brussels, STIB has partnered with Cambio Car Sharing to facilitate the integration of these services with public transportation, thus positively impacting the car sharing market in the country.

Increasing competition from other mobility services, such as ride-hailing, and car rental, are expected to challenge the car sharing market during the forecast timespan. The perceived benefits of these models such as more reduction in traffic and pollution are encouraging the consumers to use these services often. Furthermore, the vendors in the industry are increasingly providing low-cost ride-sharing services, threatening the car sharing market growth.

Car sharing market in business applications is expected to witness growth, due to advantages such as flexibility for employees and reduction in fleet management costs. These services allow employees of the organization access to a large fleet of vehicles and flexibility of booking vehicles as & when needed. These services allow the fleet managers to streamline fleet operations and make an optimal use of vehicles. Furthermore, these services allow the organizations to save more by reducing total cost of mobility by about 30%.

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Some of the key vendors in the car sharing market are Car2Go, Autolib, Cambio CarSharing, Orix Corporation, Lyft, Inc., and Zipcar, Inc. These companies are constantly devising strategies such as lowering fares and offering promotional discounts to remain competitive in the industry. Furthermore, the industry is characterized by strong competition among both global and regional players.

Table of Content:

Chapter 1    Methodology & Scope

Chapter 2    Executive Summary

Chapter 3    Car Sharing Industry Insights

Chapter 4    Car Sharing Market, By Business Model

Chapter 5    Car Sharing Market, By Model

Chapter 6    Car Sharing Market, By Application

Chapter 7    Car Sharing Market, By Region

Chapter 8 Company Profiles

More Report At: http://www.openpr.com/news/archive/144590/marketstudyreport-com.html

Related Report:

Mobility on Demand Market Size by Service (Car Sharing [By Model {P2P, Station-Based, Free-Floating}, By Business Model {Round Trip, One Way}], Ride Hailing, Car Rental [By Vehicle Type {Luxury Car, Executive Car, Economy Car, SUV, MUV}], By Application (Business, Private), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024

Mobility on Demand Market is projected to surpass USD 200 billion by 2024. The development of travel & tourism industry is expected to be one of the major drivers of the industry. According to the World Travel & Tourism Council, in 2016, the direct contribution of this sector to GDP was USD 2,306.0 billion, that is approximately 3.1% of the total GDP. Transport forms a vital component of the travel industry for the sustainable growth of the sector. Using mobile technologies, travelers are seeking more freedom of movement, demanding advanced mobility solutions such as car rental services and positively impacting the mobility on demand market.

https://www.marketstudyreport.com/reports/mobility-on-demand-market/?utm_source=RR-PSR

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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