Portland, OR, Aug. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global shared mobility market generated $435.20 billion in 2021 and is estimated to hit $1,266.80 billion by 2031, registering a CAGR of 11.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Shared Mobility Market Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $435.20 billion |
| Market Size in 2031 | $1,266.80 billion |
| CAGR | 11.5% |
| No. of Pages in Report | 315 |
| Segments covered | Service Model, Vehicle Type, Vehicle Propulsion, Sales Channel and Region |
| Drivers | Rise in venture capital and strategic investments |
| Government initiatives for smart cities | |
| Increase in inclusion of e-bikes in the sharing fleet | |
| Opportunities | Increase in government initiatives for the development of bike sharing infrastructure |
| Restraints | Low rate of internet penetration in developing regions |
Covid-19 scenario-
- The Covid-19 outbreak had a negative impact on the growth of the global shared mobility market owing to change in mobility patterns of people across the globe. Mobility of people during the pandemic decreased significantly.
- The pandemic led to shift in priorities regarding commute. Commuters opted for safe and sanitized means of transportation and avoided shared mobility services such as ride sharing.
- Ride-hailing also reduced due to the implementation of measures such as social distancing, fear of congestion and reduced commuting.
- However, other areas of shared mobility such as micro mobility services witnessed a growing demand owing to the growth in e-commerce business and last mile deliveries.
- In addition, commuters now utilize micro mobility vehicles such as e-bikes, electric-pedal assisted bicycles, scooters, and others for daily travel. This is anticipated to boost the growth of the shared mobility market during the forecast period.
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The report offers detailed segmentation of the global shared mobility market based on service model, vehicle type, vehicle propulsion, sales channel and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on service model, the public transit segment accounted for more than half of the total market in 2021, and is projected to lead the trail by the end of 2031. However, the bike sharing segment would cite the fastest CAGR of 15.3% throughout the forecast period. The report also discusses car sharing, ride-hailing and microtransit under this segment.
Based on vehicle type, the buses and rails segment contributed to more than half of the global market in 2021, and is expected to maintain its dominance through 2031. The two-wheelers segment, on the other hand, would grow at the fastest CAGR of 14.2% from 2022 to 2031. The report also discusses passenger cars and others under this segment.
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Based on vehicle propulsion, the IC engines segment captured the largest share of more than three-fourths of the global market in 2021, and is likely to exhibit a noteworthy growth during the forecast period. Nonetheless, the electric and hybrid vehicles segment would grow at the highest CAGR of 17.4% from 2022 to 2031.
Based on sales channel, the online segment captured the largest share of nearly three-fifths of the global market in 2021, and is likely to lead the trail during the forecast period. Moreover, the same segment would grow at the highest CAGR of 13.4% from 2022 to 2031.
Based on region, the market across Asia-Pacific contributed to more than two-fifths of the total market share in 2021, and is expected to maintain its dominance during the forecast period. The LAMEA region, on the other hand, would grow at the fastest CAGR of 13.9% from 2022 to 2031. The other two provinces discussed in the report include Europe and North America.
The key market players analyzed in the global shared mobility market report include Autocrypt Co., Ltd., BlaBlaCar, Blu-Smart Mobility Pvt. Ltd., Bolt Technology OÜ, Cabify Espaa S.L.U., EasyMile SAS, Free2move, Getaround, Inc., Lyft, Inc., Meru Mobility Tech Pvt. Ltd., ANI Technologies Private Limited (Ola), Uber Technologies Inc., Zoomcar India Private Limited, Didi Chuxing Technology Co. and Yandex LLC.
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The report analyzes these key players of the global shared mobility market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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