New York, April 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Car Pooling Global Market Report 2022" - https://www.reportlinker.com/p06250379/?utm_source=GNW
20 billion in 2021 to $8.33 billion in 2022 at a compound annual growth rate (CAGR) of 15.7%. The market is expected to grow to $12.95 billion in 2026 at a compound annual growth rate (CAGR) of 11.7%.
The carpooling market consists of sales of carpooling which is also known as shared mobility is the most technologically advanced transportation system that enables users to book a short distance ride as and when needed. The sales consist of revenues generated by establishments that are primarily engaged in the booking of the car by online carpooling platforms and app-based carpooling.
The car-pooling market covered in this report is segmented by type into online carpooling platforms, app-based carpooling.Online Carpooling Platforms refer to people traveling, to make it a cheaper affair.
The application will allow the user to select his/her role may be driver or passenger.This will lead the user to log in to the app.
The different types of cars include economy, executive, luxury and is used in various applications such as businesses, individuals, schools, others.
Asia Pacific was the largest region in the carpooling market in 2021.Western Europe was the second largest region in the carpooling market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Government initiatives to minimize carbon emissions is likely to drive the carpooling market.Major metropolitan cities have traffic congestion with an increase in the vehicle density on the roads, increasing the 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 the emission rates, 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, 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 market.
Complex policies of different countries are anticipated to limit the expansion of the carpooling industry during the next coming years.Stringent policies encumber the businesses and bounds the carpooling players to function smoothly.
For instance, in 2019 the Government of India (GOI) enforced guidelines to ensure that carpooling is a no-profit no-loss service in order to help the citizens with an odd-even policy that has been introduced to reduce carbon emission.The transport ministry of India issued guidelines for private car owners for ride-sharing, which mandates the KYC for users and limits the maximum number of rides taken per day to four.
Therefore, the government guidelines drafted by various countries are projected to act as a major restraint for the growth of the carpooling market during the forecast period.
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 the ride-sharing application. Automakers investing in carpooling applications will contribute to the growth of the market.
In May 2019, Bedrock’s, a US-based transportation company partnered with Scoop Technologies for an undisclosed amount.This acquisition will provide Bedrock to grow alternative mobility initiatives, including its May Mobility autonomous shuttle route and Luum, a mobility management software provider powering Bedrock’s commuter benefit and incentives program.
Scoop Technologies is a US-based Carpooling company.
The countries covered in the carpooling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06250379/?utm_source=GNW
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