Car Sharing Market Research Shows 20% CAGR & USD 12 Billion by 2024: Global Market Insights, Inc.

SELBYVILLE, Del.–(BUSINESS WIRE)–#CarSharingMarketResearch–The valuation of car sharing market by 2024 is expected to go past 12 billion US dollar mark driven by stringent government regulations and norms associated with the emissions of greenhouse gases.

P2P carsharing market is expected to witness high growth owing to increasing number of people willing to rent out their idle cars on a short-term basis. Additionally, car owners are becoming progressively inclined toward earning money by renting it out rather than letting the car sit idle.

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Round trip car sharing market is projected to undergo wide adoption due to the lower costs for long-distance trips as the fares are based on distance traveled. The model allows a user to pick and return a shared vehicle at the same station that is supported by mobile applications or a personal access card.

The U.S. car sharing market will grow exponentially led by incentives introduced by the government to promote the use of these services. The states in the country have enacted taxation regulations & legislation and incentives for companies providing these services.

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Major car sharing market players include Autolib, Car2Go, Cambio CarSharing, Cityhop, Communauto, DriveNow, Getaround, CarShare Australia, Carrotshare, Ekar Fz LLC, Hertz, Hour Car, Locomute, Lyft, Mobility carsharing, Modo Co-operative, Orix, Peg City Car, Regina Car Share Co-operative, Turo, and Zipcar.

Browse key industry insights spread across 227 pages with 323 market data tables & 28 figures & charts from the report, “Car Sharing Market Size By Model (P2P, Station-Based, Free-Floating), Business Model (Round Trip, One Way), Application (Business, Private), Regional Outlook, Growth Potential, Competitive Landscape & Forecast 2024” in detail along with table of contents:

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