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Analysis on Impact of COVID-19 in Car Sharing by Automobile Manufacturers in its Car Sharing Market Analysis

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LONDON-The car sharing market is likely to experience steady growth because of stringent government regulations regarding emission control and increasing investments in car sharing by automobile manufacturers. Rising at a CAGR of over 16%, the market is estimated to have an incremental growth of USD 7.65 billion by 2024. Download Free Sample Report

A Technavio analyst says, "The global car sharing market will witness an upsurge due to the spread of COVID-19. The extension of containment efforts is leading to increased demand and reduced production. Hence, the prices are expected to remain elevated in the short term, thereby resulting in an improved topline growth of market players."

Technavio’s recent analysis of the car sharing market includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in APAC, Europe, North America, South America, and MEA, geographically. The APAC region is expected to have a market share of 46% and will offer significant growth opportunities for market players during the forecast period.

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Growing adoption of ride-sharing services and the global outbreak of coronavirus pandemic might hamper the market growth. However, the growing adoption of urban mobility due to increasing traffic congestion and pollution will positively influence the growth of the global car sharing market.

Technavio’s analysis of the car sharing market also includes:

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive the car sharing market growth during the next five years
  • Precise estimation of the car sharing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the car sharing market industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape
  • Comprehensive details of factors that will challenge the growth of car sharing market vendors

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