Carsharing Services Will Surpass 12 Million Members Worldwide by 2020

August 22, 2013

As an alternative or a supplement to personal vehicle ownership, carsharing provides drivers with convenient and affordable access to a range of vehicles on an hourly or daily basis.  Enjoying rapid growth since the 1990s, the carsharing market has grown from an informal network of small companies and organizations to a market driven by major multinational corporations.  According to a new report from Navigant Research, worldwide membership in carsharing programs will grow from 2.3 million in 2013 to more than 12 million by 2020.

“Carsharing offers members the ability to enjoy mobility without the expense and hassle of owning a car, or the need to frequently rent a vehicle from a traditional car rental agency,” says Lisa Jerram, senior research analyst with Navigant Research. “In addition, carsharing is viewed by both public and private entities as a powerful tool to reduce urban congestion and lower emissions of greenhouse gases.”

The growth of the carsharing market, however, will continue to be limited by the perceived inconvenience of not privately owning a vehicle.  Additionally, consumer attitudes about cars as symbols of status, success, privacy, and freedom persist.  Most importantly, according to the report, this market is constrained by the ability of carsharing companies to achieve sufficient revenue per vehicle in order to create a sustainable, profitable business.

The report, “Carsharing Programs”, examines the evolution of carsharing services in regions around the world.  The study examines the key drivers and barriers to continued expansion, as well as the societal benefits of carsharing.  Market forecasts for vehicle demand due to carsharing programs, reduced personal vehicle acquisition, and revenue from carsharing services by region extend through 2020.  The report also reviews market segmentation and key logistical considerations, and provides short profiles of the top companies involved in the carsharing industry.  An Executive Summary of the report is available for free download on the Navigant Research website.

Contact: Richard Martin

+1.303.493.5483

richard.martin@navigant.com

* The information contained in this press release concerning the report, “Carsharing Programs,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Research News

Rss
Residential Demand Response Sites Expected to Reach Nearly 65 Million by 2023
September 2, 2014Half of residential DR sites to be linked to dynamic pricing programs by 2023, report concludes • Residential demand response (DR), in the form of programs designed to encourage consumers to…
Read More »
Spending on Energy Efficient Buildings in Europe Is Expected to Total Nearly $800 Billion From 2014 Through 2023
August 28, 2014Enforcement and activity vary widely from country to country, report finds • Buildings account for 40 percent of Europe’s final energy consumption, and thus represent a…
Read More »
Smart Grid as a Service Will Reach $11.2 Billion in Annual Revenue by 2023
August 26, 2014Benefits include reduced time to market and world-class security, report finds • While they represent a small part of the smart grid market today, smart grid…
Read More »
55 Million Electric Motorcycles and Scooters Will be Sold Worldwide from 2014 to 2023
August 25, 2014Harley Davidson’s entry will spur sales as growth accelerates in North America and Europe, report concludes • Driven by rising gasoline prices and increasingly congested city streets, more consumers are starting…
Read More »
View All News

{"userID":"","pageName":"Carsharing Services Will Surpass 12 Million Members Worldwide by 2020","path":"\/newsroom\/carsharing-services-will-surpass-12-million-members-worldwide-by-2020","date":"9\/2\/2014"}