Global Electric Vehicle Shared Mobility Market to be dominated by Asia-pacific region till 2026
Favourable government
regulations for electric vehicles and growing pollution levels is expected to
drive the global electric vehicle shared mobility market for the forecast
period.
According to TechSci Research report, “Electric
Vehicle Shared Mobility Market - Global Industry Size, Share, Trends,
Opportunity and Forecast, 2016-2026, Segmented By Service Type (Ride-Hailing, Car Sharing,
Car Rental and Ride Sharing), By Vehicle Type (Two-Wheeler and Four-Wheeler),
By Commuting Pattern (Daily, Weekly and Occasionally) and By Region”, the global electric vehicle shared mobility market
is expected to grow at a steady CAGR for the forecast period, 2022-2026. Shared
mobility is a kind of commuting service in which commercial vehicles are made
available to provide commuting services from one place to another. The rapid
urbanization across the globe has increased the number of riders traveling per
day for various purposes in the cities. Due to the presence of a large number
of privately owned vehicles on the road, the occurrence of traffic congestion
is on the rise. To reduce traffic congestion and minimize the emission of
harmful pollutants in the environment is increasing the adoption of the
electric vehicle shared mobility across the globe. The limited presence and the
rapid depletion of fossil fuels around the globe are increasing the demand for
the adoption of environment-friendly vehicles. The government of several
countries is concerned about the increase in pollution and is actively
promoting the idea of ride-sharing among the people instead of using the
personal ride which in turn is fueling the global electric vehicle shared
mobility market growth. The shift in the consumer preference to travel through
the economical and luxurious mode of traveling rather than riding their
vehicle.
However, the lack of presence of adequate charging
infrastructure may restrain the global electric vehicle shared mobility market
growth for the forecast period.
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Global
electric vehicle shared mobility market is segmented into service type, vehicle
type, commuting pattern, regional distribution, and company. Based on the
service type, the market is divided into ride-hailing, car sharing, car rental,
and ride sharing. The ride-hailing segment is expected to account for
significant market share for the forecast period, 2022-2026. The rapid growth
of e-commerce, food delivery, and last-mile delivery services is significantly
contributing to surge the in ride-hailing segment growth. The presence of
e-hailing services due to the ease of booking, passenger comfort, and the
increasing traffic congestion is expected to create lucrative opportunities for
the ride-hailing segment growth. An increase in the government initiatives to
surge the awareness among the people about air pollution and the efforts made
by the market players to attract more customers is expected to propel the
segment growth. Based on vehicle type, the market is bifurcated into
two-wheeler and four-wheeler. The four-wheeler vehicle type segment is expected
to dominate the global electric vehicle shared mobility market for the next
five years. The ease of traveling through passenger cars, buses for
long-distance traveling is driving the growth of the segment. The ability to
carry a greater number of passengers at a single time than the two-wheeled
electric vehicles is further accelerating the adoption of four-wheeler vehicles
for shared mobility across the globe.
Uber
Technologies, Inc., ANI Technologies Pvt. Ltd., Lyft, Inc., Hertz Corporation,
Europcar Mobility Group, Avis Budget Group, Sixt SE, Budget Rent a Car System,
Inc., Grab Holdings Inc., Car2Go Ltd. are the leading players operating in global
electric vehicle shared mobility market. Manufacturers are increasingly
focusing on research and development process to fuel higher growth in the
market. To meet evolving customer demand with respect to better efficiency and
durability, several electric vehicle shared mobility manufacturers are coming
up with their technologically advanced offerings.
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“The increase
in the efforts to make efficient charging infrastructure by the government
around the globe coupled with the incentives offered to the OEMs is expected to
fuel the adoption of the electric vehicle shared mobility in the next five
years. Manufacturers are developing an electric vehicle with better battery
life and longer usage duration thereby boosting the demand for electric vehicle
shared mobility for short as well as longer durations. High-end investments for
the research and development activities and the introduction of preferential
policies, subsidies, tax rebates along with the rise in the increasing
awareness about environmental pollution is expected to contribute to propelling
the global electric vehicle shared mobility market growth till 2026” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Electric
Vehicle Shared Mobility Market - Global Industry Size,
Share, Trends, Opportunity and
Forecast, 2016-2026, Segmented By Service Type (Ride-Hailing, Car
Sharing, Car Rental and Ride Sharing), By Vehicle Type (Two-Wheeler and
Four-Wheeler), By Commuting Pattern (Daily, Weekly and Occasionally) and By
Region” has
evaluated the future growth potential of global electric vehicle shared
mobility market and provided statistics & information on market size, shares,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of global electric
vehicle shared mobility market.
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