Latin America Carsharing Market Overview:

According to MarkNtel Advisors study the Latin America Carsharing Market is valued at 93.65 million in 2023 and is estimated to grow at a CAGR of around 22.7% during the forecast period, i.e., 2024-29. The market growth is driven primarily by the swiftly rising urban population, surging vehicle ownership costs, and the increasing affordability of carsharing services to commute across different areas. Carsharing services allow users to pay only for the distance they have traveled, which helps reduce travel costs & traffic congestion. Hence, these services are gaining increasing traction across Latin America.

Key Findings of the Study: Latin America Carsharing market

Latin America Carsharing Market Driver

Rising Urban Population in Latin America to Soar the Demand for Carsharing Services – The increasing population in Latin America, propelled by expanding employment prospects, income growth, and enhanced living standards, has led to a surge in daily commuters, consequently leading to mounting traffic congestion. As a result, there is a notable upsurge in demand for carsharing services, particularly among daily commuters sharing similar routes.

In response to this growing demand, numerous carsharing service providers are extending their operations into various countries of Latin America. Furthermore, due to its cost-effectiveness, adaptability, and accessibility, the Latin American Carsharing Market is destined for sustained growth in the years to come.

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Scope of the Latin America Carsharing Market Report Segmentation

-By Model

  • Business to Consumer (B2C)
  • Peer to Peer (P2P)

-By Rental Service

  • By Hour
  • By Day
  • By Month

-By Application

  • Web or Mobile Platform
  • Third-Party Operator

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Geographical analysis:

-By Country

  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Colombia
  • Others

With the largest share in the Latin America Carsharing Market, Brazil is anticipated to observe a significantly higher prevalence of carsharing services in the coming years. It owes principally to the low quality of public transportation infrastructure in the country, which does not suffice the requirement of the public in terms of both scalabilities across different areas & quality, such as overcrowding, frequent delays, and poor conservation.

Latin America Carsharing Industry Recent Development:

  • 2023: DiDi Subsidary 99taxis planned to double the number of electric cars serving its passengers in Brazil, with a goal of reaching 1,000.
  • 2022: Bla Bla Car raised an investment of nearly USD 15 million to support the shared-travel platform’s growth and boost access to affordable, convenient, and environmentally-friendly travel.

Current Landscape of Latin America Carsharing Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Latin America Carsharing market. The research report profiles major players, including

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  • Turbi
  • Awto
  • Kinto Share
  • MoObie
  • Movmi
  • GEOTAB
  • Cambio Carsharing
  • Turo
  • Float CarShare
  • DiDi Colombia
  • Others

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