The global carpooling market is anticipated to grow at a CAGR of 19.2% during the forecast period. The carpooling market is also known as shared mobility. Carpooling is the most technologically advanced transportation system which allows users to book a short-distance ride anytime and whenever requires. The primary factor contributing to the market growth includes the rise in the launch of various carpooling services across the globe by major market players operating across the globe. For instance, in April 2021, Lyft, Inc. launched Lyft Pass for Healthcare. Eligible patients, health plan members, and Medicaid & Medicare beneficiaries are able to request a ride to and from their medical appointment or other destination through the Lyft application, offering patients with more flexibility and control over their healthcare journey.

Segmental Outlook 

The global carpooling market is segmented based on product type, service type, and application. Based on the product type, the market is bifurcated into online carpooling platforms, and app-based carpooling. Based on the service type, the market is sub-segmented into e-hailing, car sharing and car rental, and station-based mobility. Based on the application, the market is further sub-segmented into businesses, individuals, and schools. Among these, the e-hailing sub-segment is expected to hold a considerable share in the market owing to ease of booking, increasing traffic congestion, passenger comfort, and rising government initiatives to increase awareness among people regarding air pollution are propelling the demand for e-hailing carpooling. 

Among the product type, the app-based carpooling sub-segment is expected to hold a prominent share of the carpooling market over the forecast period. The carpooling applications allow users to select their role, which may be either driver or passenger. Moreover, the passenger can choose from different types of cars including economy, executive, and luxury based on their requirements, which attracts more users to adopt app-based carpooling. Furthermore, the key players operating in the market are increasingly launching several new features in the application to stay competitive in the market. For instance, in April 2021, Uber Technologies, Inc. and Walgreens partnered to launch a new feature that allows consumers to book vaccination appointments at a Walgreens location and also schedule their Uber ride to the vaccination appointment along with all with a few taps through the Uber app.

Regional Outlooks

The global carpooling market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America is expected to hold a considerable share in the carpooling market during the forecast period, owing to the presence of market leaders such as Uber Technologies, Inc, and others in the region. These players are launching carpooling services which in turn drive the overall carpooling market over the forecast period. For instance, in June 2022, Uber Technologies, Inc. relaunched carpooling services under the name UberX Share, in the US. The service is available in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San Diego, Portland, Oregon, Indianapolis, and Pittsburgh. The company has also added a cash incentive feature to the service. Riders who select UberX Share will be matched with another co-rider who is headed in the same direction. In exchange for the hassle and extra time spent on the road, Uber gives riders up to a 20% discount on the total fare. 

Global Carpooling Market Growth, by Region 2023-2029

The Asia-Pacific is Expected to Hold a Significant Share of the Global Carpooling Market

Among all regions, the Asia-Pacific is expected to hold a significant market share during the forecast period owing to the growing migration of skilled workforces into urban areas from rural places in developing countries such as India, China, Indonesia, and others. Hence, fuelling the carpooling market growth as the passenger does not opt for a personal vehicle for a short commute. Instead, the passengers prefer carpooling to go to work as it saves time and money. As a result, the regional market players are relaunching carpooling services to cater to the rising demand. For instance, in November 2019, Didi Chuxing conducted a trial relaunch of its Hitch carpooling service in seven major Chinese cities with additional safety features. The company added a new in-app Safety Assistant feature that shows detailed information on drivers and passengers and offers real-time support from safety specialists. Additionally, during the trial, the Hitch service only allowed trips less than 50 km in metro areas between 5 am and 8 pm for female users. Male users can enjoy the service till 11 pm. 

Market Players Outlook

The major companies serving the global carpooling market include Blablacar, Carma Technology Corp., Fasterminds GmbH, Grab Holdings Inc., Ibibo Group Pvt. Ltd., Idisha Info Labs Pvt Ltd., Karos, Lyft Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2022, the French Karos Group, operator of a carpooling platform acquired the Cologne-based start-up Goflux, a ride-sharing app. Through the acquisition, the company focuses on expanding its footprints to France and Denmark. Additionally, both companies plan to launch their services in four new countries by the end of 2024.

The Report Covers

• Market value data analysis of 2021 and forecast to 2029.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global carpooling market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.