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Car-sharing - Germany

Germany

Germany is expected to see a revenue of €0.81bn in the Car-sharing market by 2024.
The revenue is projected to grow annually at a rate of 2.58% (CAGR 2024-2029), resulting in a market volume of €0.92bn by 2029.
The number of users in this market is expected to reach 3.98m users by 2029, with a projected user penetration of 4.3% in 2024 and 4.8% by 2029.
The average revenue per user (ARPU) is expected to be €225.20.
Furthermore, it is projected that 95% of the total revenue in the Car-sharing market will come from online sales by 2029.
In comparison to other countries, United States is expected to generate the highest revenue of €2,769m in 2024.
Germany's Car-sharing market is highly competitive, with major players such as ShareNow and Miles dominating the urban transportation landscape.

Key regions: Europe, Germany, India, United States, Malaysia

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Analyst Opinion

The Car-sharing market in Germany has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Germany are increasingly opting for car-sharing services due to their convenience and cost-effectiveness. Car-sharing allows individuals to access a vehicle whenever they need it, without the hassle of owning and maintaining a car. This appeals to urban dwellers who may not require a car on a daily basis but still need occasional access to one. Additionally, younger generations are more inclined towards sharing economy models and are more open to using car-sharing services as an alternative to traditional car ownership.

Trends in the market: One of the key trends in the car-sharing market in Germany is the rise of electric car-sharing services. With growing concerns about environmental sustainability and the need to reduce carbon emissions, electric vehicles have gained popularity. Car-sharing companies are capitalizing on this trend by offering electric vehicles as part of their fleet, attracting environmentally conscious customers. Another trend in the market is the integration of car-sharing services with public transportation. Many car-sharing companies have partnered with public transportation providers to create a seamless travel experience for customers. This integration allows users to easily switch between different modes of transportation, reducing the need for private car ownership.

Local special circumstances: Germany has a well-developed public transportation network, which makes car-sharing services a viable alternative to owning a car. The country also has a high population density in urban areas, where parking spaces are limited and expensive. Car-sharing provides a practical solution for individuals who need occasional access to a vehicle without the burden of finding parking.

Underlying macroeconomic factors: Germany's strong economy and high disposable income levels have contributed to the growth of the car-sharing market. With a stable job market and increasing urbanization, more people are moving to cities, where car-sharing services are most in demand. Additionally, the government's support for sustainable transportation options, such as electric vehicles, has further boosted the car-sharing market. In conclusion, the car-sharing market in Germany is experiencing growth due to changing customer preferences, emerging trends, and local special circumstances. The convenience and cost-effectiveness of car-sharing services, the rise of electric car-sharing, integration with public transportation, and Germany's well-developed public transportation network and strong economy are all factors contributing to the development of the car-sharing market in Germany.

Methodology

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.