Boom Predicted in Carsharing Market in Europe in Future

The presence of favorable government policies and measures in many European countries and cities is one of the important factors responsible for the soaring adoption of carsharing services in Europe. For instance, the Mayor of London announced, in 2018, his plans of building public parking spaces in the city that would significantly reduce the private ownership of cars and facilitate car parking in the city. Similarly, the Mayor of Paris announced, in April 2017, her plans of making the city the first post-car city in the world.

Powered by the above-mentioned factors, the European carsharing market is predicted to register huge growth in the coming years. The most widely used types of cars in the carsharing services in the region are—luxury, executive, and economy class cars. Out of these, the adoption of economy class vehicles was found to be the highest in the carsharing services in Europe in the past. This is mainly credited to the higher fuel efficiency and lower requirement of maintenance services in these cars.

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One of the prominent trends currently being observed in the European carsharing market is the rising deployment of electric vehicles in the carsharing fleets by the carsharing service providing companies in Europe. EVs are being increasingly adopted in carsharing services, on account of the global warming and environmental damage caused by the emissions from the fossil-fuel powered cars. Moreover, the electric cars require lesser maintenance and have lower total cost of ownership (TCO) as compared to the conventionally used vehicles and are thus, being increasingly preferred in carsharing services.

Hence, it can be said with full surety that the demand for carsharing services will shoot-up across Europe in the coming years, owing to the increasing road congestion in several European cities, rising popularity of shared mobility solutions, and the presence of numerous government policies supporting the adoption of carsharing services in the European countries.

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Market Segmentation:

Based on Car Type

Economy
Executive
Luxury

Based on Propulsion

Electric
Fuel-Based
Based on Model

Peer-to-Peer (P2P)
Round-Trip
One-Way Trip

Based on Application

Business
Private

Geographical Analysis

Germany
U.K.
France
Italy
Spain
Netherlands
Rest of Europe