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Global Shared Vehicles Market to reach USD 317 billion by 2028.

Global Shared Vehicles Market Size study, by Service (Car Rental, Bike Sharing, Car Sharing) and Regional Forecasts 2022-2028

Product Code: ALTAM-10052151
Publish Date: 27-05-2022
Page: 200

Global Shared Vehicles Market is valued at approximately USD 127 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14% over the forecast period 2022-2028. Shared vehicles enable customers to save money, enjoy various benefits connected with cars, reduce greenhouse gas emissions, and minimise vehicle maintenance costs as well as the space required for parking infrastructure. Individuals on a tight budget who do not require a full-time vehicle have found shared vehicles to be a viable option. The aforementioned elements increase the market’s use of shared vehicles. The market is expected to develop as people become more interested in shared vehicles because they are flexible, handy, and save money on trips. Furthermore, the use of shared vehicles is growing because they provide better, higher-quality, and personalised transport options to the targeted population base, which does not own a vehicle, resulting in market increase. The market’s expansion can also be linked to the region’s growing travel and tourism activities, as well as the increasing and simple availability of low-cost and high-end luxury shared vehicle services. To get the most market share, most of the major companies in the shared vehicle market are pursuing various strategies such as alliances, partnerships, mergers, development, and the launch of new technologies. For example, Hertz Global Holdings, Inc. and Tesla Inc. forged cooperation to sell 100,000 Model 3S automobiles, half of which are expected to be rented out to Uber drivers.

The key regions considered for the global Shared Vehicles market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounted for the majority of the worldwide market’s revenue. From 2022 to 2028, it is expected to grow with the highest growth rate. In Asia Pacific, China has the most active shared vehicle systems, accounting for over half of the total, making it the most dominant area. Whereas, from 2022 to 2028, Europe is predicted to have the second-highest growth rate. The expanding tourism, associated with education and business, is credited with the market’s rise in this region. The region’s expansion is also due to the government’s increasing investment and spending on transportation services, which attracts a large number of professionals, investors, and executives. As a result, Europe is expected to grow at a constant rate over the projection period.

Major market players included in this report are:
Daimler AG

Avis Budget Group Inc.
Lyft, Inc.
Hertz Global Holdings, Inc.
Europcar Mobility Group SA
Avis Budget Group Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Service:
Car Rental
Car Sharing
Bike Sharing

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Shared Vehicles Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Shared Vehicles Market, by Region, 2020-2028 (USD Billion)
1.2.2. Shared Vehicles Market, by Service, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Shared Vehicles Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Shared Vehicles Market Dynamics
3.1. Shared Vehicles Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Increase in the cost of vehicle ownership globally Growing internet penetration
3.1.2. Market Challenges Lack of awareness regarding shared transportation modes
3.1.3. Market Opportunities Increased investment in shared mobility applications
Chapter 4. Global Shared Vehicles Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Shared Vehicles Market, by Service
6.1. Market Snapshot
6.2. Global Shared Vehicles Market by Service, Performance – Potential Analysis
6.3. Global Shared Vehicles Market Estimates & Forecasts by Service, 2018-2028 (USD Billion)
6.4. Shared Vehicles Market, Sub Segment Analysis
6.4.1. Car Rental
6.4.2. Bike Sharing
6.4.3. Car Sharing
Chapter 7. Global Shared Vehicles Market, Regional Analysis
7.1. Shared Vehicles Market, Regional Market Snapshot
7.2. North America Shared Vehicles Market
7.2.1. U.S. Shared Vehicles Market Service breakdown estimates & forecasts, 2018-2028
7.2.2. Canada Shared Vehicles Market
7.3. Europe Shared Vehicles Market Snapshot
7.3.1. U.K. Shared Vehicles Market
7.3.2. Germany Shared Vehicles Market
7.3.3. France Shared Vehicles Market
7.3.4. Spain Shared Vehicles Market
7.3.5. Italy Shared Vehicles Market
7.3.6. Rest of Europe Shared Vehicles Market
7.4. Asia-Pacific Shared Vehicles Market Snapshot
7.4.1. China Shared Vehicles Market
7.4.2. India Shared Vehicles Market
7.4.3. Japan Shared Vehicles Market
7.4.4. Australia Shared Vehicles Market
7.4.5. South Korea Shared Vehicles Market
7.4.6. Rest of Asia Pacific Shared Vehicles Market
7.5. Latin America Shared Vehicles Market Snapshot
7.5.1. Brazil Shared Vehicles Market
7.5.2. Mexico Shared Vehicles Market
7.6. Rest of The World Shared Vehicles Market

Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Daimler AG Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. SIXT SE
8.2.3. Avis Budget Group Inc.
8.2.4. Lyft, Inc.
8.2.5. Hertz Global Holdings, Inc.
8.2.6. Europcar Mobility Group SA
8.2.7. Avis Budget Group Inc.
8.2.8. GreenGo
8.2.9. Uber
8.2.10. EVCARD
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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