Carpooling Market Analysis | 2022-2028

“The Carpooling Market was estimated at US$ 19.72 billion in 2021 and is expected to grow at an impressive CAGR of over 21.93% during 2022-2028 to reach US$ 79.36 billion by 2028.”

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Market Dynamics

Introduction

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 traveling. It is often used by people for a shorter distance. The travel expenses are usually divided equally among the occupants.

Market Drivers

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 market growth at a significant rate during the review period. Rising environmental 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.

COVID-19 Impact

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 product demand. However, with the lift of lockdown, the market growth is likely to gain momentum.

Segments Analysis

Application Trends

“The business segment dominates the market during the forecast period.”

The carpooling market has been segmented into businesses, individuals, schools, and others. The business segment accounted for the largest market share owing to an increase in several companies providing mobility services.

Regional Trends

“North America accounted for the largest market share during the forecast period.”

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.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. 

The following are the key players in the global carpooling market (arranged alphabetically).

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

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. 

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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Company Profiling

• Detailed profiling of additional market players (up to 3 players).
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Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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