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Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
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Key regions: Europe, Germany, India, United States, Malaysia
Car-sharing has become increasingly popular in Europe, with more and more people opting for this convenient and cost-effective mode of transportation. This trend can be attributed to several factors, including changing customer preferences, emerging market trends, and local special circumstances.
Customer preferences: One of the main reasons for the growth of the car-sharing market in Europe is the changing preferences of customers. Many people are now looking for more sustainable and eco-friendly transportation options, and car-sharing provides a viable solution. By sharing a car with others, individuals can reduce their carbon footprint and contribute to a greener environment. Additionally, car-sharing offers flexibility and convenience, allowing people to access a car whenever they need it without the hassle of owning one.
Trends in the market: The car-sharing market in Europe is witnessing several trends that are driving its growth. One such trend is the rise of ride-hailing platforms that offer car-sharing services. These platforms have gained popularity due to their ease of use and affordable pricing. Another trend is the increasing adoption of electric vehicles in car-sharing fleets. With the growing concern for the environment, many car-sharing companies are adding electric vehicles to their fleets, attracting environmentally conscious customers.
Local special circumstances: The car-sharing market in Europe is also influenced by local special circumstances. For example, in densely populated cities with limited parking spaces, car-sharing provides a practical solution for residents who do not want to own a car. Additionally, in countries with high fuel prices and expensive car ownership costs, car-sharing offers a cost-effective alternative for individuals who want to save money.
Underlying macroeconomic factors: Several macroeconomic factors are driving the development of the car-sharing market in Europe. One such factor is the increasing urbanization in the region. As more people move to cities, the demand for convenient transportation options grows, and car-sharing fulfills this need. Furthermore, the sharing economy as a whole is gaining traction in Europe, with people becoming more comfortable with the idea of sharing resources. This cultural shift has contributed to the growth of the car-sharing market. In conclusion, the car-sharing market in Europe is experiencing significant growth due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. As people become more conscious of their environmental impact and seek cost-effective transportation options, car-sharing provides an attractive solution. With the continued development of ride-hailing platforms, the adoption of electric vehicles, and the increasing urbanization in Europe, the car-sharing market is expected to continue its upward trajectory in the coming years.
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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)