Shared Mobility Market, Industry Trends, Revenue Growth, Key Players Till 2033

The Shared Mobility by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Shared Mobility, The shared mobility market size has grown rapidly in recent years. It will grow from $298.61 billion in 2023 to $334.61 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%.  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 $535.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.  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.

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.

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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

Mobility-as-a-Service has emerged as a key trend gaining popularity in the shared mobility market. Mobilitie 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.

The shared mobility market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis

………..

27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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