2022-23 Global Car Sharing Market Overview
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Car sharing recovered slightly in 2022 and 2023 as the threat of COVID-19 and resulting restrictions eased. Growth was fueled by membership and fleet sizes that increased in part through acquisitions. Globally, car sharing fleets grew by about 3% from early 2022 through late 2023. Membership increased over the last two years by about 9%. Western Europe and Southeast Asia experienced the most growth. Worldwide, a significant increase is projected for 2024, especially in these regions. Over the long term, fleets globally are forecasted to grow at a compounded annual growth rate (CAGR) of approximately 1.57% over the next ten years, while revenue is forecasted to grow at a CAGR of about 4.33%. Still, if the main drivers of membership over the last two years continue—increased flexibility in time duration options and use cases, increased multimodal integration, more resistance to car ownership, and increased awareness—car sharing may gain more traction long-term.
