How Shared Mobility/Car Sharing Will Change the North American Automotive Industry

Graphical Research  |


According to the Graphical Research new growth forecast report titled “North America Car Sharing Market Size By Model, By Business Model, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024 ”, estimated to exceed USD 4.8 billion by 2024.

Stringent government regulations regarding the emission control are expected to accelerate the car sharing market growth in North America. The U.S. motor vehicle emission control program has stipulated more stringent standards for vehicle emission control to reduce pollution. Furthermore, these services reduce the vehicle ownership to a considerable extent, contributing to the reduced emission exhaust from vehicles.

The adoption of advanced technology in the vehicles by the industry players will accelerate the car sharing market growth over the forecast timespan. For instance, Zipcar uses Zipcard technology to access vehicles and unlock the doors. Enterprise CarShare developed a mobile application as a reservation system that allows the user to choose from a selection of cars and the duration of usage for the customers. Such advancements allow maximum consumer convenience, thus attracting a large number of customers to these services.

Free-floating car sharing market in North America is expected to gain momentum over the forecast timespan due to the ease of access to these services. Furthermore, these services are cost-effective and provide a high degree of flexibility. Furthermore, these services are available in small and mid-sized cities in North America. Station-based car sharing market will grow in the region over the forecast period owing to the increasing integration of these services with the public transit systems.

The key players in the Europe car sharing market include Getaround, Zipcar, car2go, Turo, Enterprise CarShare, Maven, and Hertz. The industry is characterized by intense competition among a large number of players. The players are increasingly investing in product developments to offer customers differentiated offerings. For instance, in the U.S., Zipcar offers over 50 makes and models of vehicles.

DISCLOSURE: Graphical Research reports have been constructed taking into consideration each regional market as an independent industry, since each country-level industry is governed by a different set of dynamics, consumer behavior and regulatory landscape. In addition to a high degree of accuracy, this approach also enables us to better analyze the industry scenario and offer targeted business intelligence.


The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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