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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