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Car Pooling Global Market Report 2023
Major players in the carpooling market are, Didi Chuxing, Dida Chuxing, Uber, Via Transportation, Lyft Line, Waze Carpool, Zimride, Carma, and Scoop Technologies. The global carpooling market will grow from $8.33 billion in 2022 to $9.64 billion in 2023 at a compound annual growth rate (CAGR) of 15.7%.
New York, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Car Pooling Global Market Report 2023" - https://www.reportlinker.com/p06250379/?utm_source=GNW
The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The carpooling market is expected to grow to $15.10 billion in 2027 at a CAGR of 11.9%.
The carpooling market includes revenues earned by entities by providing rented cars for groups of people that can travel together to reduce environmental pollution by reducing carbon footprints.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Carpooling, also known as "shared mobility," is the most technologically advanced transportation system that enables users to book a short-distance ride as and when needed. The booking of the cars through online carpooling platforms and app-based carpooling helps reduce the number of vehicles on the road, reduce carbon emissions, and protect the environment.
Asia Pacific was the largest region in the carpooling market in 2022.Western Europe was the second largest region in the carpooling market.
The regions covered in the carpooling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The car-pooling market covered in this report is segmented by type into online carpooling platforms and app-based carpooling.Online carpooling platforms refer to people traveling together to make it a cheaper affair.
The application will allow the user to select his/her role, which may be either driver or passenger.This will lead the user to log in to the app.
The different types of cars include economy, executive, and luxury and are used in various applications such as businesses, individuals, schools, and others.
Government initiatives to minimise carbon emissions are likely to drive the carpooling market.Major metropolitan cities have traffic congestion with an increase in vehicle density on the roads, increasing carbon emissions.
For instance, cities such as New York, Seoul, and Shanghai are among the top 10 cities with the highest carbon footprint.In an attempt to curb emissions, governments and companies are encouraging car-pooling to commute in the cities.
In the Paris agreement on climate change, countries have set determined targets for carbon footprint reduction by 2030.For instance, the Delhi government in India has introduced an odd-even scheme to control the traffic density and keep a check on carbon emissions in the city.
Corporates such as Amazon and Infosys are also encouraging car-pooling to commute to workplaces to reduce congestion and air pollution. The initiatives to keep a check on carbon emissions thereby contribute to the growth of the market.
Complex policies of different countries are anticipated to limit the expansion of the carpooling industry during the next few years.Stringent policies encumber the businesses and limit the carpooling players’ ability to function smoothly.
For instance, in November 2020, Government of India issued guidelines that for each car with the driver and integrated with the aggregator, a maximum of four ride-sharing intra-city journeys per day and two ride-sharing inter-city excursions per week will be allowed. Therefore, the government guidelines drafted by various countries are projected to act as a major restraint on the growth of the carpooling market during the forecast period.
Automobile manufacturers are increasingly venturing into mobility services to cater to the growing demand for car-pooling services.For instance, major automobile manufacturers, namely BMW and Daimler, have merged their car-sharing ventures to expand geographically.
Similarly, in February 2020, Tesla announced plans to launch a ride-sharing application. Automakers’ investing in carpooling applications will contribute to the growth of the market.
In August 2022, Ola Cabs, an India-based online taxi and car booking company, announced a merger agreement with Uber Technologies, Inc. for an undisclosed amount. Through this merger, both companies joined forces to improve taxi rentals, ride services, and customer experiences to enhance business outcomes. Uber Technologies, Inc. is a mobility as a service company based in the United States that pioneered food delivery, online taxi bookings, and hotel reservations.
The countries covered in the carpooling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The carpooling market research report is one of a series of new reports that provides carpooling market statistics, including global market size, regional shares, competitors with a carpooling market share, detailed carpooling market segments, market trends and opportunities, and any further data you may need to thrive in the carpooling industry. This carpooling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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