How has the shared mobility market evolved, and where is it heading next?
The shared mobility market size has grown rapidly in recent years. It will grow from $343.24 billion in 2024 to $383.92 billion in 2025 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to increased sales of hybrid electric vehicles (HEVs), a surge in urbanization, increased occurrences of vehicle theft, and a lack of parking spaces.
The shared mobility market size is expected to see rapid growth in the next few years. It will grow to $631.76 billion in 2029 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to the strict environmental regulations and emission requirements, a rise in demand for ride hailing and ride sharing services, and an increase in fuel prices. Major trends in the forecast period include focus on innovative vehicle fleet-sharing platforms, the adoption of autonomous vehicle technology, technology advancements, upgrading of mobility sharing apps, and strategic partnerships and collaborations.
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How have varous drivers impacted the growth of the shared mobility market?
An increase in fuel prices is expected to drive the growth of the shared mobility market in the forecast period. The prices of fuel are rising frequently, which presents a business opportunity for shared mobility companies due to the rising demand for vehicle fuel and supply chain problems brought on by Russia’s invasion of Ukraine. For instance, according to the Bureau of Transportation Statistics, part of the United States Department of Transportation, from January to June 2022, in the USA, the price of regular motor gasoline rose 49% and the price of diesel fuel rose slightly more at 55%. Also in Singapore, on average, the first five-month petrol prices in 2022 till May rose by 49.95% over the same period last year. Therefore, the rise in fuel prices drives the growth of the shared mobility market in the forecast period.
What are the primary segments of the shared mobility market?
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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Which firms are leading 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
How will industry trends affect the trajectory of the shared mobility market?
Mobility-as-a-Service has emerged as a key trend gaining popularity in the shared mobility market. Mobility as-a-Service is a type of digital platform that enables users to book and pay for integrated mobility services through a single platform. Major companies operating in the shared mobility market are focused on providing mobility-as-a-service to lead the market. For instance, Carzonrent, an India-based car rental company, launched Plug Mobility, an electric Mobility-as-a-Service (MaaS) platform that offers sustainable mobility solutions for business travel, fleet employee transfers, airport taxi, crew transfer, government and PSU official travel. This platform focuses on leading the transition from mobility to electric vehicles and reducing pollution.
Which geographic trends are shaping the shared mobility market, and which region has the highest market share?
The countries covered in the shared mobility market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Shared Mobility Market Report 2025 Offer?
The shared mobility market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Shared transport or shared mobility refers to a transportation system and resources that are shared among users, either concurrently or one after another. This includes public transit, micro-mobility, automobile-based modes, and commuter-based modes, or ridesharing. The shared mobility is used to share transportation services with other commuters.
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