Carpooling Market Report

Market Insights

The Global Carpooling Market is expected to grow from USD 16.1 billion in 2020 to USD 53.1 billion by 2026 at a CAGR of over 22.3% during the forecast period.

Figure: Global Carpooling Market Size, 2020-2026 (USD Billion)

What is Carpooling?

Carpooling is defined as shared mobility wherein several people travel together by booking their rides as and when required. Carpooling reduces the number of automobiles required for travelling. It is often used by people for a shorter distance. The travel expenses are usually divided equally among the occupants.

Market Dynamics

The growth of the global carpooling market is primarily driven by increasing demand for cost and time-saving transportation facilities. An initiative by the government to promote carpooling as a result of increasing congestion on the roads is likely to drive the market growth at a significant rate during the review period. Rising environment regulations to curb carbon emissions are anticipated to add to the market growth further. The increasing number of players due to high demand is another important factor contributing to the market growth.

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Key Players

Key players operating in the global Carpooling Market are

• Didi Chuxing Technology Co. (China),
• Dida Chuxing (China),
• Via Transportation, Inc. (The U.S.),
• Waze Carpool (The U.S.),
• Scoop Technologies Pvt Ltd (India),
• Carma Technology Corporation (The U.S.),
• Zimride (The U.S.),
• Lyft Inc. (The U.S.),
• Uber Technologies, Inc. (The U.S.),
• Ola Cabs (India),
• Quick Ride (India),
• BlaBlaCar (France),
• Wingly (France), and
• Liftshare (UK).

Segment Analysis

Application Trends

The business segment accounted for the largest market share in 2020

Based on application, the market has been segmented into businesses, individuals, schools, and others.

The business segment accounted for the largest market share owing to an increase in a number of companies providing mobility services.

Regional Trends

Geographically, the market in North America accounted for the largest market share in 2020 due to the increasing number of automobile manufacturers venturing into mobility services.

• Additionally, increasing government regulations aimed at curbing carbon emissions is likely to fuel the product demand.
• The market growth in Asia-Pacific is likely to register considerable CAGR on account of the rise in several companies providing mobility services.

COVID-19 Impact on Global Carpooling Market

The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and remote working which in turn affected the growth of the carpooling market. The imposition of social distancing norms due to fear of virus infection has hampered the market growth significantly. Additionally, the slowdown of the economies across geographies also affected the product demand. However, with the lift of lockdown, the market growth is likely to gain momentum.

Critical Questions Answered in the Report

• What are the key trends in the global carpooling market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global carpooling market?
• What are the key strategies adopted by the major vendors to lead in the global carpooling market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Global Carpooling market hopes to have the greatest opportunity to convert-

• Carpooling manufacturers
• Carpooling suppliers
• Carpooling distributors
• Organizations
• Government bodies

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