Carsharing Industry is Poised to Drive Accelerated Expansion in Coming Years: P&S Intelligence

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Governments across the world are reforming policies to encourage the adoption of carsharing services and reduce car ownership rates to minimize environmental pollution and traffic congestion. Apart from the federal governments of countries, state and local authorities are also taking several initiatives to facilitate the implementation of carsharing programs. For example, in November 2018, the Mayor of London initiated the construction of public parking spaces to facilitate the parking of public vehicles, to reduce the car ownership rate in the capital city.

Additionally, the rising concerns regarding greenhouse gas (GHG) emissions and environmental protection will also drive the carsharing market at a CAGR of 11.0% during the forecast period (2019–2025). The market revenue stood at $5,571.2 million in 2018 and it is projected to reach $10,846.9 million by 2025. GHG emissions from automobiles have resulted in the formulation of several stringent environmental policies by national governments and international organizations. The evolution of carsharing services has emerged as an effective solution to curb pollution levels.


According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the carsharing market in 2018, and it is expected to continue this trend throughout the forecast period. Among APAC nations, China dominates the global market, due to the growing adoption of electric vehicles (EVs) across carsharing platforms to mitigate environmental pollution, in the country. With constant government support in the form of incentives and policies, China is projected to demonstrate significant growth in the coming years as well.

Thus, the rising government support toward carsharing platforms and surging concerns about GHG emissions will fuel the adoption of carsharing services in the forthcoming years.

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