NEW YORK, Sept. 15, 2021 /PRNewswire/ — From $1,015.7 million in 2020, the value of the global peer-to-peer carsharing market will reach $7,225.2 million by 2030, advancing at a CAGR of 21.7%, according to the market research report published by P&S Intelligence.

The major factors propelling the demand for such transport services include:

  • Convenience and Cost-Effectiveness: Owning a vehicle is becoming increasingly costly due to the rising vehicle and fuel prices, parking expenses, licensing and registration fees, and insurance premiums. This is why P2P carsharing lets people enjoy driving a car without paying anything other than the ride. You can also book cars for rent almost every day through the website or mobile app provided by the service provider.
  • Air Pollution: The worsening problem of air pollution is another big factor behind the P2P carsharing services market growth, as the idea behind encouraging people to opt for such services is to reduce carbon emissions by decreasing the number of private vehicles in operation. Additionally, the majority of cars used for these services are electric, which helps to boost environmental conservation efforts.

The COVID-19 pandemic has affected the P2P carsharing services market negatively because of the lockdown measures around the world, which forced people indoors. This caused a dramatic drop in trips taken for business, leisure, and college purposes.

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The executive category has been projected to contribute the highest revenue to the P2P carsharing services market throughout this decade, based on car type. These cars offer the best balance of comfort and price, making them very popular with commuters.

Europe dominates the P2P carsharing services market as people here, especially those in major urban centers, have been reluctant to buy cars because of their high purchase and maintenance costs. The government’s efforts to electrify shared fleets are also boosting market revenue.

Browse detailed report on Global P2P Carsharing Services Market Size and Industry Growth Forecast to 2030

The most-prominent companies in the global P2P carsharing market are Turo Inc., GoMore ApS, Social Car SL, SNCF Reseau Group, HyreCar Inc., Getaround Inc., Car Next Door Australia Pty. Ltd., JustShareIt Inc., and Hiyacar LTD.

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Carsharing Market Report – Asia-Pacific (APAC) is currently the largest carsharing market, majorly on account of the strong government support for such a transportation system, especially in China.

Mobility as a Service Market Report – In recent years, the Asia-Pacific (APAC) region witnessed the most-rapid proliferation of shared mobility services on account of the rising disposable income and growing concerns over air pollution, especially in India and Taiwan.

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