Shared Mobility Global Market Report 2024

Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Shared Mobility Global Market Report 2024" report has been added to's offering.

The shared mobility market size is expected to see rapid growth in the next few years. It will grow to $535.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The anticipated growth in the forecast period can be attributed to stringent environmental regulations and emission requirements, an increase in demand for ride-hailing and ride-sharing services, and a rise in fuel prices. Key trends expected during this period include a focus on innovative vehicle fleet-sharing platforms, the adoption of autonomous vehicle technology, advancements in technology, upgrades to mobility-sharing apps, and strategic partnerships and collaborations.

The anticipated rise in fuel prices is poised to propel the growth of the shared mobility market in the upcoming forecast period. Frequent increases in fuel prices present a business opportunity for shared mobility companies, especially amid the growing demand for vehicle fuel and supply chain disruptions resulting from the Russia-Ukraine conflict. Notably, in the USA, data from the Bureau of Transportation Statistics indicates a 49% increase in the price of regular motor gasoline and a slightly higher rise of 55% in diesel fuel prices from January to June 2022. Similarly, in Singapore, average petrol prices for the first five months of 2022 increased by 49.95% compared to the same period the previous year. The upward trajectory of fuel prices is expected to drive the growth of the shared mobility market.

Stringent environmental regulations and emission requirements are anticipated to be pivotal drivers for the shared mobility market in the forecast period. Governments worldwide are actively working to reduce emissions and address climate change, implementing regulations that mandate automakers to produce vehicles with lower emissions. Shared mobility is gaining prominence as a solution aligned with these regulations. For instance, in December 2021, the Environmental Protection Agency (EPA) in the USA approved guidelines for new vehicle emissions through 2026, projecting a reduction of 3.1 billion tons of CO2 emissions by 2050. Furthermore, the U.S. government has set a goal for 50% of all new vehicles produced in 2030 to be electric or plug-in hybrid versions. The increasing focus on environmental regulations and emission standards is expected to drive the demand for shared mobility services.

A notable trend gaining traction in the shared mobility market is the emergence of Mobility-as-a-Service (MaaS). MaaS is a digital platform that allows users to book and pay for integrated mobility services through a single platform. Major companies in the shared mobility sector are actively providing MaaS solutions to lead the market. For example, Carzonrent, an India-based car rental company, introduced Plug Mobility, an electric MaaS platform focused on sustainable mobility solutions for various purposes such as business travel, fleet employee transfers, and airport transportation. This platform aims to drive the transition to electric vehicles and reduce pollution.Key Attributes:

Report AttributeDetails
No. of Pages200
Forecast Period2024 - 2028
Estimated Market Value (USD) in 2024$334.61 Billion
Forecasted Market Value (USD) by 2028$535.2 Billion
Compound Annual Growth Rate12.5%
Regions CoveredGlobal

A selection of companies mentioned in this report includes

  • Didi Chuxing Technology Co
  • Uber Technologies Inc.
  • Avis Budget Group
  • Lyft Inc.
  • The Hertz Corporation
  • Grab Taxi Holdings Pvt. Ltd.
  • Deutsche Bahn Connect GmbH
  • BlaBlaCar
  • Gett Inc

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Global Shared Mobility Market

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