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Car-sharing - Ireland

Ireland

The Car-sharing market in Ireland is expected to see a significant growth in revenue, reaching €34.89m by 2024.
This projection is expected to show an annual growth rate (CAGR 2024-2029) of 2.51%, resulting in a market volume of €39.50m by 2029.
The number of users is also expected to increase, reaching 286.50k users by 2029, with a user penetration rate projected to be 4.9% in 2024 and 5.5% by 2029.
The average revenue per user (ARPU) is expected to be €138.90.
Additionally, 99% of the total revenue is projected to be generated through online sales by 2029.
It is interesting to note that in comparison to other countries, United States is expected to generate the most revenue in the Car-sharing market, with a projected revenue of €2,740m in 2024.
Car-sharing in Ireland has seen a significant rise in popularity as urban residents seek more sustainable and affordable transportation options.

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

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Analyst Opinion

Car-sharing is becoming increasingly popular in Ireland, with more and more people opting for this convenient and cost-effective transportation option. This trend can be attributed to several factors, including customer preferences, local special circumstances, and underlying macroeconomic factors. Customer preferences play a significant role in the development of the car-sharing market in Ireland. Many individuals are looking for alternatives to traditional car ownership due to the rising costs of owning and maintaining a vehicle. Car-sharing provides a flexible and affordable solution, allowing people to access a car when they need it without the financial burden of ownership. Additionally, the younger generation, in particular, is more focused on sustainability and reducing their carbon footprint. Car-sharing aligns with these values, as it promotes the efficient use of vehicles and reduces the number of cars on the road. Trends in the car-sharing market in Ireland are also influenced by global and regional market developments. The rise of digital platforms and smartphone applications has made it easier for car-sharing companies to connect with potential customers and provide seamless booking and payment processes. This technological advancement has contributed to the growth of the car-sharing market, as it has increased accessibility and convenience for users. Furthermore, the sharing economy as a whole has gained popularity worldwide, and car-sharing is a natural extension of this trend. As more people become comfortable with the concept of sharing resources, the demand for car-sharing services continues to rise. Local special circumstances in Ireland also contribute to the development of the car-sharing market. The country's urban areas, such as Dublin, experience high levels of traffic congestion and limited parking spaces. This makes owning a car less practical and increases the appeal of car-sharing as a more efficient and convenient option. Additionally, Ireland has a strong tourism industry, with many visitors opting to explore the country by car. Car-sharing provides a flexible and affordable way for tourists to access a vehicle during their stay, further driving the demand for these services. Underlying macroeconomic factors also play a role in the growth of the car-sharing market in Ireland. The country's economy has been steadily recovering since the global financial crisis, leading to increased consumer confidence and disposable income. This has allowed more people to consider alternative transportation options, such as car-sharing. Additionally, government initiatives aimed at reducing carbon emissions and promoting sustainable transportation have created a favorable environment for the car-sharing market to thrive. In conclusion, the car-sharing market in Ireland is experiencing significant growth due to customer preferences, global market trends, local special circumstances, and underlying macroeconomic factors. As more people seek affordable and sustainable transportation options, car-sharing provides a convenient solution that aligns with these needs. With technological advancements and government support, the car-sharing market is expected to continue its upward trajectory in Ireland.

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.