Automotive Industry Today

APAC Car Sharing Market to grow by 31.5% CAGR from 2018 to 2024

The Asia Pacific car sharing market is predicted to grow at a CAGR of over 31.5% from 2018 to 2024 due to the rising pollution caused by vehicle emissions.
Published 17 December 2018
According to the Graphical Research  “Asia Pacific Car Sharing Market analysis based on Model, By Application, Business Model, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024”.

Asia Pacific Car Sharing Market size to reach over $2bn by 2024 owing to the growing demand for advanced mobility options due to increasing traffic congestion. According to a report published by Uber Technologies, the people in the region are stuck in traffic for about 52 minutes per day or 13 days per year. The governments in the region are considering the introduction of advanced mobility options such as car sharing to reduce the traffic congestion.

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P2P car sharing market will propel over the forecast timespan due to a high degree of private vehicle ownership in the region. Considering the potential of the industry, several companies are investing in developing these services in the Asia Pacific region, particularly in countries including Malaysia, Singapore, and Taiwan. For instance, iCarsclub, a Singapore-based P2P car sharing company has raised USD 10 million to expand their service offerings.

One-way car sharing market is expected to witness a significant growth due to the high degree of flexibility offered by these services. These services are being availed by the customers who need to run daily errands such as grocery shopping. Furthermore, the customers are using these services in integration with the public transit systems. This has encouraged the governments to establish collaborations with the car sharing companies to develop services integrated with the public transit systems.

The key participants in the car sharing market include Zipcar, Car2Go, BleuSG, Car Club, WhizzCar, Tribecar, and Smove. The companies are struggling to retain their customers and share in the industry and thus are investing in offering differentiated services to the customers such as loyalty discounts and fidelity cards.

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Segments we cover:

APAC Car Sharing Market Size by Business Model
Roundtrip
One way

APAC Car Sharing Market Share by Model
P2P
Station-based
Free-floating

Browse key industry insights from this 2018 report @
https://www.graphicalresearch.com/industry-insights/1001/APAC-car-sharing-market

APAC Car Sharing Market Forecast by Application
Business
Private

The above information has been provided for the following countries:
China
India
Japan
South Korea
Taiwan
Australia
Malaysia
Singapore

Related Reports:

1.    North America Car Sharing Market Size By Model (P2P, Station-Based, Free-Floating), By Business Model (Round Trip, One Way), By Application (Business, Private), Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024

2.    Europe Car Sharing Market Statistics By Business Model (Round Trip, One Way), By Model (P2P, Station-Based, Free-Floating), By Application (Business, Private), Industry Analysis Report, Regional Outlook (UK, Germany, France, Italy, Spain, Russia, Turkey), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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Graphical Research
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