Global Shared Mobility Market Size 2024, Forecast To 2033
11 Mar, 2024
The shared mobility market has witnessed rapid growth, escalating from $298.61 billion in 2023 to $334.61 billion in 2024, indicating a compound annual growth rate (CAGR) of 12.1%. The growth during the historic period is attributed to increased sales of hybrid electric vehicles (HEVs), a surge in urbanization, increased occurrences of vehicle theft, and a lack of parking spaces. Looking ahead to 2028, the market is poised for rapid growth, projecting to reach $535.2 billion with a CAGR of 12.5%. This growth is driven by factors such as strict environmental regulations and emission requirements, a rise in demand for ride-hailing and ride-sharing services, and an increase in fuel prices. Key trends in the forecast period encompass a focus on innovative vehicle fleet-sharing platforms, the adoption of autonomous vehicle technology, technological advancements, upgrades of mobility-sharing apps, and strategic partnerships and collaborations.
Global Shared Mobility Market Key Driver
The shared mobility market is poised for growth due to the anticipated increase in fuel prices during the forecast period. Rising fuel prices present a business opportunity for shared mobility companies, driven by heightened demand for vehicle fuel and supply chain disruptions resulting from geopolitical events, such as Russia's invasion of Ukraine. According to the Bureau of Transportation Statistics, fuel prices in the USA experienced a significant rise, with regular motor gasoline prices increasing by 49% and diesel fuel prices slightly higher at 55% from January to June 2022. In Singapore, the first five-month petrol prices in 2022 rose by 49.95% compared to the same period last year. The surge in fuel prices is expected to drive the growth of the shared mobility market in the forecast period, emphasizing the importance of monitoring market sizes in 2023, 2024, and 2028 for a comprehensive understanding of its development.
Get A Free Sample Of The Global Shared Mobility Market ReportGlobal Shared Mobility Market Segments
The shared mobility market covered in this report is segmented –
1) By Service: Ride Hailing, Bike Sharing, Ride Sharing, Car Sharing, Other Services
2) By Mobility Vehicle: Cars, Two-wheelers, Others Mobility Vehicles
3) By Business Model: P2P, B2B, B2C
By Geography:The regions covered in the shared mobility market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the shared mobility market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shared mobility market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Shared Mobility Industry Players
Didi Chuxing Technology Co, Uber Technologies Inc., Avis Budget Group, Lyft Inc., The Hertz Corporation, Grab Taxi Holdings Pvt. Ltd., Deutsche Bahn Connect GmbH, BlaBlaCar, Gett Inc, ANI Technologies Private Limited, Cao Cao Mobility, Grab, Gojek, Ofo, Yulu, Zoomcar, Sixt Share, Flinkster, Bolt, Miles, Beryl, Serco, Dott, Tier, Voi, Ginger, Neuron, Hourbike, Veturilo, MOL BuBi, Uklon, CityBee, Skok, Nextbike, Citymapper, Keolis, LimeBike, Mobike, Motivate, Ola, Scoot Networks, Transit, Via, Zipcar, Micromobility Inductries, Lalamobility, Awto, Alstom, Contxto, Bogotá, AlgoLion, Anagog, Arbe, DiDi Chuxing, Drive now, Ekar, ZayRide, Bole Meter Taxi, Yookoo Ride, Shuttlers, Careem
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Shared Mobility Market Overview
Shared transport or shared mobility refers to a transportation system and resources that are shared among users, either concurrently or one after another. This includes public transit, micro-mobility, automobile-based modes, and commuter-based modes, or ridesharing. The shared mobility is used to share transportation services with other commuters.
Shared Mobility Global Market Report 2023 provides data on the global shared mobility market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The shared mobility market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.