Shared mobility is referred to a service for short to medium distance commuting for a price or free. It is available at on-street docked or dock-less stations. Most large-scale urban shared mobility programs have numerous check-out stations, and operate much like public transit systems, catering to tourists and visitors as well as local residents. These services are an innovative solution to the urban mobility challenges and are an effective way of promoting urban cycling and contributing to a more sustainable and environment-friendly mobility.
Electric vehicle are gaining traction at moment as compared to traditional internal combustion engine based vehicle. Shared mobility service providers are also adopting electric vehicles in their fleet as electric vehicle provide several benefits such as lower running costs, low maintenance cost, zero tailpipe emissions and reduction in greenhouse gases. For instance, in October 2021, Hertz Corporation ordered over 100,000 Tesla vehicles to include more electric vehicles in their car rental fleet. The company’s commitment to becoming an essential component of the modern mobility ecosystem includes Hertz leading in electrification, shared mobility, and a digital-first customer experience.
The growth of the global shared mobility market is propelling, due to rise in venture capital and strategic investments, government initiatives for smart cities, and increase in inclusion of e-bikes in the sharing fleet. However, low rate of internet penetration in developing regions is the factor hampering the growth of the market. Furthermore, increase in government initiatives for the development of bike sharing infrastructure is the factor expected to offer growth opportunities during the forecast period.
The shared mobility market is segmented on the basis of service model, vehicle type, vehicle propulsion, sales channel, and region. By service model, it is segmented into bike sharing, car sharing, ride-hailing, public transit, and microtransit. By vehicle type, it is classified into two-wheelers, passenger cars, buses & rails, and others. By vehicle propulsion, it is fragmented into IC engine, electric & hybrid vehicles, and others. By sales channel, it is categorized into offline and online. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Electric vehicle are gaining traction at moment as compared to traditional internal combustion engine based vehicle. Shared mobility service providers are also adopting electric vehicles in their fleet as electric vehicle provide several benefits such as lower running costs, low maintenance cost, zero tailpipe emissions and reduction in greenhouse gases. For instance, in October 2021, Hertz Corporation ordered over 100,000 Tesla vehicles to include more electric vehicles in their car rental fleet. The company’s commitment to becoming an essential component of the modern mobility ecosystem includes Hertz leading in electrification, shared mobility, and a digital-first customer experience.
The growth of the global shared mobility market is propelling, due to rise in venture capital and strategic investments, government initiatives for smart cities, and increase in inclusion of e-bikes in the sharing fleet. However, low rate of internet penetration in developing regions is the factor hampering the growth of the market. Furthermore, increase in government initiatives for the development of bike sharing infrastructure is the factor expected to offer growth opportunities during the forecast period.
The shared mobility market is segmented on the basis of service model, vehicle type, vehicle propulsion, sales channel, and region. By service model, it is segmented into bike sharing, car sharing, ride-hailing, public transit, and microtransit. By vehicle type, it is classified into two-wheelers, passenger cars, buses & rails, and others. By vehicle propulsion, it is fragmented into IC engine, electric & hybrid vehicles, and others. By sales channel, it is categorized into offline and online. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the shared mobility market analysis from 2021 to 2031 to identify the prevailing shared mobility market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the shared mobility market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global shared mobility market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service Model
- Bike Sharing
- Car Sharing
- Ride-hailing
- Public Transit
- Microtransit
By Vehicle Type
- Two-wheelers
- Passenger Cars
- Buses and Rails
- Others
By Vehicle Propulsion
- IC Engines
- Electric and Hybrid Vehicles
- Others
By Sales Channel
- Offline
- Online
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- 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.
- Yandex LLC
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SHARED MOBILITY MARKET, BY SERVICE MODEL
CHAPTER 5: SHARED MOBILITY MARKET, BY VEHICLE TYPE
CHAPTER 6: SHARED MOBILITY MARKET, BY VEHICLE PROPULSION
CHAPTER 7: SHARED MOBILITY MARKET, BY SALES CHANNEL
CHAPTER 8: SHARED MOBILITY MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Shared Mobility Market," the shared mobility market was valued at $435.20 billion in 2021, and is estimated to reach $1,266.80 billion by 2031, growing at a CAGR of 11.5% from 2022 to 2031.Asia-Pacific is expected to dominate the global shared mobility market in 2021 owing to collaboration of leading service provider companies and adoption of latest technologies. In addition, wireless service providers are working to provide advanced wireless platforms for smart transportation, which is also expected to supplement the growth of the Asia-Pacific shared mobility market.
Micro mobility vehicle such as e-bikes are gaining traction in the shared mobility industry at the moment. Several companies across the globe are launching e-bikes to offer e-bike sharing service to its customers, which is fueling the segmental growth. For instance, in March 2022, Veo has successfully launched the Class 2 e-bike with throttle-assist, in Birmingham, Ala; Seattle Wash; Santa Monica, Calif; Syracuse, New York; and on the University of Alabama campus. The Class 2 e-bike is named as Cosmo-e and is going to be deployed throughout the U.S. The throttle-assist makes the Cosmo-e the most accessible e-bike on the North American shared mobility market by allowing riders to get where they need to go if they are unable to pedal, need support traveling up the hills or want a boost to get up to speed from an idle position.
The growth of the global shared mobility market is propelling, due to rise in venture capital and strategic investments, government initiatives for smart cities, and increase in inclusion of e-bikes in the sharing fleet. However, low rate of internet penetration in developing regions is the factor hampering the growth of the market. Furthermore, increase in government initiatives for the development of bike sharing infrastructure is the factor expected to offer growth opportunities during the forecast period.
COVID-19 Impact Analysis
- COVID-19 has had a negative impact on shared mobility owing to change in mobility patterns of people across the globe. Mobility of people during the pandemic decreased significantly as well as number of visits to workplaces also decreased.
- The pandemic has also resulted in shift in priorities regarding commute. Commuters started to look for safe sanitized and lower risk of infection modes of transportation. Commuters also avoided the shared mobility services such as ride sharing due to strong concerns about sharing rides with persons who might potentially be infected or riding in vehicles that may have recently been used by infected person.
- In addition, during COVID-19 pandemic, public transit ridership and patronage of transportation network companies (TNC, also known as ride hailing and ride sourcing), ridesharing and many shared micro mobility services plummeted due to stay-at-home orders, virus concerns, and business closures. Ride-hailing also declined due to the restraints of social distancing, fear of congestion and reduced commuting.
- However, other areas of shared mobility such as micro mobility services witnessed a growth in demand for micro mobility services owing to growth in e-commerce business and last mile deliveries. In addition, private vehicles are not affordable by everyone, therefore commuters are looking to utilize micro mobility vehicles such as e-bikes, electric-pedal assisted bicycles, scooters, and others for daily travel, which in turn is expected to contribute in the growth of the shared mobility market during the forecast period.
Key Findings of the Study
- By service model, the bike sharing segment is anticipated to exhibit significant growth in the near future.
- By vehicle type, the two-wheelers segment is anticipated to exhibit significant growth in the near future.
- By vehicle propulsion, the electric and hybrid vehicles segment is anticipated to exhibit significant growth in the near future.
- By sales channel, the online segment is anticipated to exhibit significant growth in the near future.
- By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
- Key players operating in the global shared mobility market include ANI Technologies Pvt. Ltd., Autocrypt Co., Ltd., BlaBlaCar, Blu-Smart Mobility Pvt. Ltd., Bolt Technology OU, Cabify Espana S.L.U., DiDi Global Inc., EasyMile, Free2move, Getaround, Inc., Lyft, Inc., Meru Mobility Tech Pvt. Ltd, Uber Technologies, Inc., Yandex N.V., and Zoomcar India Pvt. Ltd.