The Car Pooling Global Market Report 2024 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 Car Pooling Global Market Report 2024, The car pooling market size has grown rapidly in recent years. It will grow from $9.64 billion in 2023 to $11.15 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to oil crises impact, rise of environmental awareness, urbanization trends, early ride-sharing initiatives, rising congestion, corporate carpooling programs.
The car pooling market size is expected to see rapid growth in the next few years. It will grow to $17.62 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to expansion of ride-sharing services, integration of autonomous vehicles, demand for sustainable mobility, corporate and workplace initiatives, regulatory support and policies. Major trends in the forecast period include micro-mobility integration, emergence of ride-sharing platforms, demand for sustainable transport, integration of ai and routing algorithms, corporate carpooling solutions.
Government initiatives to minimise carbon emissions are likely to drive the carpooling market. Major metropolitan cities have traffic congestion with an increase in vehicle density on the roads, increasing carbon emissions. For instance, cities such as New York, Seoul, and Shanghai are among the top 10 cities with the highest carbon footprint. In an attempt to curb emissions, governments and companies are encouraging car-pooling to commute in the cities. In the Paris agreement on climate change, countries have set determined targets for carbon footprint reduction by 2030. For instance, the Delhi government in India has introduced an odd-even scheme to control the traffic density and keep a check on carbon emissions in the city. Corporates such as Amazon and Infosys are also encouraging car-pooling to commute to workplaces to reduce congestion and air pollution. The initiatives to keep a check on carbon emissions thereby contribute to the growth of the carpooling market.
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The car pooling market covered in this report is segmented –
1) By Type: Online Carpooling Platforms, App-based Carpooling
2) By Car Type: Economy, Executive, Luxury
3) By Application: Businesses, Individuals, Schools, Other Applications
Automobile manufacturers are increasingly venturing into mobility services to cater to the growing demand for car-pooling services. For instance, major automobile manufacturers, namely BMW and Daimler, have merged their car-sharing ventures to expand geographically. Similarly, in February 2020, Tesla announced plans to launch a ride-sharing application. Automakers’ investing in carpooling applications will contribute to the growth of the market.
The car pooling market report table of contents includes:
1. Executive Summary
- Car Pooling Market Characteristics
- Car Pooling Market Trends And Strategies
- Car Pooling Market – Macro Economic Scenario
- Global Car Pooling Market Size and Growth
. - Global Car Pooling Market Competitive Benchmarking
- Global Car Pooling Market Competitive Dashboard
- Key Mergers And Acquisitions In The Car Pooling Market
- Car Pooling Market Future Outlook and Potential Analysis
- Appendix
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