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Global Shared Vehicles Market Report 2023: Growing Travel and Tourism Activities are Expected to Fuel the Sector

DUBLIN, May 17, 2023 --

Research and Markets

The "Shared Vehicles Global Market Report 2023" report has been added to's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global shared vehicles market is expected to grow from $120.40 billion in 2022 to $139.66 billion in 2023 at a compound annual growth rate (CAGR) of 16.0%. The shared vehicles market is expected to grow to $243.94 billion in 2027 at a CAGR of 15.0%.

Major players in the shared vehicles market are Sixt SE, Avis Budget Group, Lyft Inc., Hertz Corporation, Europcar Mobility Group, Uber Technologies Inc., Grab SG, Beijing Xiaoju Technology Co. Ltd., Careem, Gett, Zipcar, BlaBlaCar, Wingz, CarShare Ventures BV, ANI Technologies Private Limited, Curb Mobility LLC, and Enterprise Holdings.

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Shared vehicles are vehicles that commuters use to get around without owning them individually. Compared to only using public transit, shared automobiles provide more flexibility and the comfort of a private vehicle. These systems are appealing because they have the ability to minimize a user's commuting expenditures, lessen the need for parking spaces in a community, improve general air quality, and make other modes of transportation, such as rail transit, easier to reach, and encourage their use.

The main services offered in shared vehicles are car rental, bike sharing, and car sharing. Car rental services are a popular alternative for people who do not always require a car but may require one for a few days to a month that allows people to take road trips to neighbor tourist attractions as well as carry out regular tasks like shopping, office commuting, and exploring the nooks and crannies of the area. The major types of vehicles used are passenger cars, LCVs (light commercial vehicles), and micro-mobility with different propulsions such as electric vehicles and IC engine vehicles.

The shared vehicles market research report is one of a series of new reports that provides shared vehicles market statistics, including shared vehicles industry global market size, regional shares, competitors with a Shared vehicles market share, detailed shared vehicles market segments, market trends, and opportunities, and any further data you may need to thrive in the shared vehicles industry. This shared vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Strategic partnerships and collaborations have emerged as the key trends gaining popularity in the shared vehicles market. The key players operating in the shared vehicles sector are focused on partnerships and collaborations to reinforce their market position. 

In July 2022, Free2move, a Germany-based car rental, and the car-sharing company acquired Share Now for an undisclosed amount. With this acquisition, Free2move expands its mobility hubs idea to 14 new cities, continuing its aggressive growth as a global mobility leader. Share Now GmbH is a Germany-based free-floating car-sharing service provider.

Asia-Pacific was the largest region in the shared vehicles market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the shared vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the shared vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Growing travel and tourism activities are expected to propel the growth of the shared vehicles market going forward. Travel is the movement of people or objects such as airplanes, boats, trains, and other modes of transportation between different geographical areas. Tourism is a social, cultural, and economic phenomenon that involves individuals traveling to nations or locations beyond their typical environment for personal or business/professional reasons.

The use of car sharing for transportation and tourism can reduce the number of private vehicles purchased, increase vehicle utilization, significantly reduce traffic congestion, conserve energy, and lower emissions, all of which are factors that are increasing demand for the shared vehicles market.

For instance, in January 2022, according to the World Tourism Organization (UNWTO), a Spain-based United Nations organization for tourism, global tourism increased by 4% in 2021 compared to 2020 (415 million versus 400 million). Tourists' economic contribution in 2021 (measured in tourism direct gross domestic product) was predicted to be US$1.9 trillion, up from US$1.6 trillion in 2020. The average receipt per arrival is expected to be $1,500 in 2021, up from $1,300 in 2020. Therefore, growing travel and tourism activities are driving the growth of the shared vehicles market.

Key Topics Covered:

1. Executive Summary

2. Shared Vehicles Market Characteristics

3. Shared Vehicles Market Trends And Strategies

4. Shared Vehicles Market - Macro Economic Scenario
4.1. COVID-19 Impact On Shared Vehicles Market
4.2. Ukraine-Russia War Impact On Shared Vehicles Market
4.3. Impact Of High Inflation On Shared Vehicles Market

5. Shared Vehicles Market Size And Growth
5.1. Global Shared Vehicles Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Shared Vehicles Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Shared Vehicles Market Segmentation
6.1. Global Shared Vehicles Market, Segmentation By Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Car Rental
  • Bike Sharing
  • Car Sharing

6.2. Global Shared Vehicles Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Passenger Cars
  • LCVs (Light Commercial Vehicles)
  • Micro Mobility

6.3. Global Shared Vehicles Market, Segmentation By Propulsion, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Electric Vehicles
  • IC Engine Vehicles

7. Shared Vehicles Market Regional And Country Analysis
7.1. Global Shared Vehicles Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Shared Vehicles Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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