£249.7m
£X.Xm
508
84
£XX.Xm
Over the five years through 2023-24, revenue is projected to swell at a compound annual rate of 3.3% to £249.70 million. Amid the cost-of-living crisis and economic uncertainty, young people, the primary market for the car sharing service industry, are refraining from buying their own vehicles due to high ownership costs and soaring fuel prices. Consequently, car-sharing services emerge as a more economical and flexible alternative for one-off uses in urban areas, free from ongoing expenses like maintenance, insurance and road taxes. As car club memberships grow, the industry faces the challenge of deploying more vehicles, which, with high start-up costs and fierce price competition, weighs on profitability.
Industry revenue has grown at a CAGR of 3.3 % over the past five years, to reach an estimated £249.7m in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue (£m)
2024 |
---|---|---|
Zipcar (UK) Ltd | 52.3 | |
Enterprise Rent-A-Car UK Ltd | 23.5 | |
DriveNow UK Ltd | N/A |
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Industry revenue is measured across several distinct product and services lines, including Car sharing , Van sharing and Other light commercial vehicle sharing . Car sharing is the largest segment of the Car Sharing Activities in the UK.
Growing demand from urban commuters drives the car sharing segment
This industry is composed of establishments that offer membership-based car rental services, typically for shorter time periods and distances than traditional car rental and leasing firms. Although pricing structures may vary, car sharing companies often charge by the mile and by the minute or hour, in addition to a flat fee.
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SIC 77.11 - Car Sharing Activities in the UK
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Plunging new car sales drive people towards car sharing. People feeling the cost-of-living squeeze are avoiding car ownership, opting to use car sharing services as and when ...
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Younger consumers remain the biggest market. They’re likely to have lower incomes (so aren't as likely to buy a car) and are more tech savvy than older people, meaning they c...
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Population levels are a key consideration for car sharing companies. Given car sharing is most popular in urban areas, providers are drawn to the most populous regions, like ...
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Price competition is rife. Car sharing providers’ rates are often lower than running costs – they rely on high volumes to drive growth instead.
Learn about the performance of the top companies in the industry.
Zipcar focuses on expanding its member base. The company’s member numbers surged by 130% between 2018 and 2023, helping to keep sales flowing and propelling growth.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Emissions regulations boost car sharing. Things like the ULEZ can draw customers in – instead of using private vehicles, which might not meet requirements, they can rest safe...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit remains fairly weak. It’s held back by investment in new vehicles (especially electric vehicles) and the low rate car sharing providers charge.
Including values and annual change:
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Key data sources in the UK include:
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These sources include:
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The market size of the Car Sharing Activities in the UK industry in United Kingdom is £249.7m in 2024.
There are 84 businesses in the Car Sharing Activities in the UK industry in United Kingdom, which has grown at a CAGR of 1.8 % between 2019 and 2024.
The market size of the Car Sharing Activities in the UK industry in United Kingdom has been growing at a CAGR of 3.3 % between 2019 and 2024.
Over the next five years, the Car Sharing Activities in the UK industry in United Kingdom is expected to grow.
The biggest companies operating in the Car Sharing Activities market in United Kingdom are Zipcar (UK) Ltd, Enterprise Rent-A-Car UK Ltd and DriveNow UK Ltd
Car sharing and Van sharing are part of the Car Sharing Activities in the UK industry.
The company holding the most market share in United Kingdom is Zipcar (UK) Ltd.
The level of competition is high and increasing in the Car Sharing Activities in the UK industry in United Kingdom.