How Has The Shared Mobility Market Size Evolved In Recent Years?
The shared mobility market has seen considerable growth due to a variety of factors.
• The size of the shared mobility market has seen an accelerated expansion in the past few years. The market is expected to increase from a value of $343.24 billion in 2024, to a value of $383.92 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.9%.
The historic growth is primarily attributable to rising sales of hybrid electric vehicles (HEVs), a spike in urbanization, higher instances of vehicle thefts, and shortage of parking spaces.
What are the Forecasted Growth and Key Factors of the Shared Mobility Market?
The shared mobility market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions for the shared mobility market indicate swift expansion in the upcoming years, with projections showing a growth to $631.76 billion in 2029 with a compound annual growth rate (CAGR) of 13.3%.
This growth within the forecast period can be attributed to factors such as stringent environmental regulations and emission standards, an amplified demand for ride hailing and sharing services, and a surge in fuel prices. Key trends within the forecast period encompass emphasis on innovative vehicle sharing platforms, the uptake of autonomous vehicle technology, technological advancements, enhancement of mobility sharing apps and strategic alliances.
Which Drivers Are Accelerating Growth In The Shared Mobility Market?
The shared mobility market is anticipated to expand due to the predicted rise in fuel prices within the forecast period. Frequent spikes in fuel prices have opened doors for shared mobility businesses, thanks to the growing demand for vehicle fuel and supply chain issues caused by Russia's invasion of Ukraine. For example, data from the Bureau of Transportation Statistics, a division of the United States Department of Transportation, reveals that from January to June 2022, in the USA, regular motor gasoline prices increased by 49%, while diesel fuel prices climbed slightly higher, at 55%. Similarly, in Singapore, average petrol prices from January till May 2022 experienced a surge of 49.95% compared to the same timeframe in the previous year. Thus, the escalation in fuel prices propels the growth of the shared mobility market in the projected period.
How Is the Shared Mobility Market segmented?
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
Subsegments:
1) By Ride Hailing: Taxi Services, App-Based Ride Services, Luxury Ride Services
2) By Bike Sharing: Docked Bike Sharing, Dockless Bike Sharing, Electric Bike Sharing
3) By Ride Sharing: Carpooling Services, Vanpooling Services, Dynamic Ride Sharing
4) By Car Sharing: Peer-To-Peer Car Sharing, Traditional Car Sharing, Corporate Car Sharing
5) By Other Services: Shuttle Services, Micro-Mobility Solutions, Integrated Mobility Solutions
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What New Trends Are Influencing the Shared Mobility Market?
The shared mobility market is seeing a notable shift towards the Mobility-as-a-Service trend, popularly known as MaaS. MaaS, a digital platform, allows users to access and pay for comprehensive mobility services through one singular platform. Guiding the market, primary companies within shared mobility are now focusing their efforts on providing MaaS options. This was exemplified by Carzonrent, a car rental company originating in India, who introduced Plug Mobility. This innovative electric MaaS platform aims at offering green mobility solutions for various needs such as business trips, fleet employee commuting, airport transfer services, crew conveyance, and official journeys for the government and PSUs. The platform's objective is to pioneer the transition from standard mobility to electric vehicles, thus making a significant impact on pollution reduction.
Who Are the Key Players in the Shared Mobility Market?
Major companies operating in the shared mobility market include:
• 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
• ANI Technologies Private Limited
• Cao Cao Mobility
• Gojek
• Yulu
• Zoomcar
• Sixt Share
• Flinkster
• Bolt
• Miles
• Beryl
• Dott
• Tier
• Voi
• Neuron
• Hourbike
• Veturilo
• MOL BuBi
• Uklon
• CityBee
• Skok
• Nextbike
• Keolis
• LimeBike
• Mobike
• Motivate
• Scoot Networks
• Transit
• Via
• Zipcar
• Lalamobility
• Awto
• Ekar
• ZayRide
• Bole Meter Taxi
• Yookoo Ride
• Shuttlers
• Careem
What Is The Most Dominant Region In The Shared Mobility Market?
Asia-Pacific was the largest region in the shared mobility market in 2024. 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.
