The Asia Pacific Shared Mobility Market would witness market growth of 15.7% CAGR during the forecast period (2022-2028).
Shared mobility is a growing industry in which customers share transportation resources & services at the same time or one after the other. In addition, shared mobility is not only cost-effective and ecologically good, but it is also handy. As a result, shared mobility would only be able to essentially replace car ownership. In areas with lower population density, there would have been an increase in customer demand for self-driving taxis as well as shuttles.
Leading market players are constantly operating with car manufacturers to expand their electric car-sharing service offerings in Asian countries. These strategies are likely to benefit the market over the forecast period. Most industry companies intend to extend their client base over the next few years by introducing sophisticated technology and increasing the number of investors in the market.
The focus of the Chinese government is on providing incentives to promote the sale of electric vehicles in this area. Countries like India are striving to boost the sales of electric vehicles, providing opportunities for the market to grow. Increased government initiatives to encourage the purchase of electric vehicles are projected to create opportunities for market expansion throughout the following evaluation period. The Chinese government provides incentives to entice citizens to purchase electric automobiles.
Japan is attempting to outfit infrastructure for charging as part of a national strategy. The Next-generation automotive plan 2010, developed in 2010 by cooperative efforts by the government and industry, states the target capacity of 5000 rapid & 2 million normal-charge gadgets by 2020. From Hokkaido to Okinawa, over 1300 quick-charge units were installed throughout Japan. Although the overall number of active charging machines is thought to be in the hundreds of thousands, it is impossible to quantify because electric outlets in residences also count as such.
The China market dominated the Asia Pacific Shared Mobility Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $59,083.2 million by 2028. The Japan market is estimated to grow at a CAGR of 15% during (2022 - 2028). Additionally, The India market would witness a CAGR of 16.4% during (2022 - 2028).
Based on Service Model, the market is segmented into Ride Hailing, Ride Sharing, Car Sharing, Bike Sharing and Others. Based on Vehicle, the market is segmented into Cars, Two-wheelers, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Shared Mobility Market is Projected to reach USD 454.4 Billion by 2028, at a CAGR of 15.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lyft, Inc., Grab Holdings Inc. Avis Budget Group, Inc., DiDi Global Inc., Deutsche Bahn Connect GmbH (Deutsche Bahn AG), Uber Technologies, Inc., GT Gettaxi (UK) Limited, Ola Cabs (ANI Technologies Pvt. Ltd.), Share Now GmbH, and Global Car Sharing and Rental Co., Ltd.
By Service Model
By Vehicle
By Country
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