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Report: Car-Sharing Market Growing Quickly in Europe
Europeans are warming to the idea of sharing rather than owning a car, says Frost & Sullivan.
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Europeans are warming to the idea of sharing rather than owning a car, says Frost & Sullivan.
The research firm predicts the European market for traditional car sharing renting vehicles for an hour or two at a time will jump from 700,000 users in 2011 to more than 15 million by 2020.
Only one in four Europeans is familiar with the car-sharing concept, according to the study. But once the idea is explained, it says, interest jumps to 38%.
What do users like about car sharing? Three in five cite cost efficiency. Convenience ranks high too.
Another form of car sharing worth watching is peer-to-peer sharing, according to Frost & Sullivan. It says only 18% of respondents would be willing to literally share their own cars with others. But it predicts P2P sharing in Europe will grow to 310,000 vehicles and 740,000 participants by 2020.
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