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More Information @ http://bit.ly/2mkiVJY <br>car sharing market continues to grow dramatically, rental car companies and the manufacturers are investing to enhance their business models. In 2016, General Motors invested in a Chinese company, Yi Wei Xing that offers a service to arrange short-term rentals.<br>
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Car Sharing Market share to exceed USD 16.5 billion by 2024 : Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024
KeyInsights from Car Sharing Market : • Rapid growth and evolution in the sharing economy has led to increase in demand for shared mobility. As the car sharing market continues to grow dramatically, rental car companies and the manufacturers are investing to enhance their business models. In 2016, General Motors invested in a Chinese company, Yi Wei Xing that offers a service to arrange short-term rentals. • In addition, General Motors also invested USD 500 million in the U.S. based ride-hailing company Lyft. OEMs are looking at opportunities with providing mobility services and structure new business model such as setting up units to facilitate consumers by providing vehicles suitable to their needs. It substitutes a fee income for sales revenue, hence, expands the business model. In 2015, Ford launched a pilot car-sharing program in London called ‘GoDrive’. It lets customers pay by the minute and access cars via smartphones.
Continued... • The industry is taking hold in the large urban areas in both developing and developed regions. Moreover, it has grown rapidly in areas that clear certain economic, social, demographic thresholds. For instance, in Germany there are over 125 companies operating in the market and controlling a sharing fleet that has increased from over 900 vehicles in 2000 to 16,000 in 2016. • Increasing number of mobile devices including tablets and smartphones that provide platform for booking vehicles are expected to enhance the car sharing market demand over the future. The technology provides various benefits such as reduced parking space requirements & fuel cost, better air quality and low carbon emission due to reduced traffic fumes. It also leads to shorter journey duration due to fewer vehicles on the road and less congestion further augmenting the carsharing market size.
Germany Car Sharing Market Size, By Application, 2013-2024 (USD Million)
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360° Analysis • Application Trends • Business applications are estimated to witness attractive growth prospects over the forecast period. This is due to the rising on-demand mobility among corporates to make positive impact in the society as it prevents emissions and pollution on a large scale. Corporate car sharing enables commercial businesses to minimize or eliminate private vehicle fleets by offering their employees with access to exclusive-use or shared vehicles. • Regional Trends • U.S. car sharing market led the global industry owing to the high adoption rate of the technology in the region. The regional industry revenue from cars and two-wheeler sales is shrinking due to the urbanization, environmental regulations and the shifts in the society’s norms that are eroding the value of owning an individual automobile. • Competitive Market Share • Industry participants include Uber, Lyft, Car2go, Zipcar, Autolib, DriveNow, Hertz Corporation, GoGet, Getaround, Mobility Carsharing, Orix, RelayRides, WhipCar, and Zoomcar. Due to the fragmented nature of the car sharing market, the companies are focusing on strategies such as price reduction and technological innovation.
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