Carpooling Market Report

Market Insights

The Global Carpooling Market is expected to grow from USD 19.72 billion in 2021 to USD 79.36 billion by 2028 at a CAGR of over 21.93% during the forecast period of 2022-2028.

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.

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.

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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).

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

Segment Analysis

Application Trends

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 2021 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.

Market Segmentation

The market is segmented in the following ways:

By Type

• Online Carpooling Platforms
• App-based Carpooling

By Application Type

• Businesses
• Individuals
• Schools
• Others

By Region

• North America
• Europe
• Asia-pacific
• Middle East & Africa
• South America

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. 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.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

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

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.