Market Overview:
The global car subscription market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 17% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Car subscription refers to a fee-based service for automobile ownership with a fixed periodic recurrent payment. The subscription plan enables the user to acquire a motor vehicle in return for a monthly fee for a duration of minimum one month to a few years. It also provides facilities of multiple switches of the subscribed car from different brands and covers additional vehicle expenses, such as insurance and maintenance. In comparison to owning a vehicle, subscription models are more cost-effective, have no down payments and can be used for both internal combustion engine (ICE) and electric vehicles.
Car Subscription Market Trends:
Rapid digitization of the automotive industry across the globe is one of the key factors driving the market growth. With the increasing availability of high-speed internet and utilization of smartphone applications, car subscription service providers are offering online and offline-based platforms to facilitate convenient booking, pick up and drop and maintenance activities. Moreover, as the coronavirus disease (COVID-19) continues to spread, consumers are minimizing the usage of public transport facilities, such as metro, taxis and buses, and adopting car subscription services to travel in private vehicles. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI) solutions, are acting as other growth-inducing factors. These innovative technologies provide real-time tracking, consumer feedback, driving analysis, alerts of rash driving, geofencing, engine monitoring and service history facilities. Other factors, including rising expenditure capacities of the consumers, along with extensive infrastructural developments, especially in the developing economies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global car subscription market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, service providers, vehicle type, subscription period and end use.
Breakup by Service Providers:
- OEMs and Captives
- Independent/Third Party Service Provider
Breakup by Vehicle Type:
- IC Powered Vehicle
- Electric Vehicle
Breakup by Subscription Period:
- 1 to 6 Months
- 6 to 12 Months
- More Than 12 Months
Breakup by End Use:
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Carly Holdings Limited, Cluno GmbH (Cazoo Limited), Cox Enterprises Inc., Facedrive Inc., Lyft Inc., Onto Ltd., OpenRoad Auto Group, The Hertz Corporation, Wagonex Limited and ZoomCar.
Key Questions Answered in This Report:
- How has the global car subscription market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global car subscription market?
- What are the key regional markets?
- What is the breakup of the market based on the service providers?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the subscription period?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global car subscription market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Car Subscription Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Service Providers
6.1 OEMs and Captives
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Independent/Third Party Service Provider
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Vehicle Type
7.1 IC Powered Vehicle
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Electric Vehicle
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Subscription Period
8.1 1 to 6 Months
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 6 to 12 Months
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 More Than 12 Months
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by End Use
9.1 Private
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Corporate
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Carly Holdings Limited
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Cluno GmbH (Cazoo Limited)
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Cox Enterprises Inc.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 SWOT Analysis
15.3.4 Facedrive Inc.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 Lyft Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Onto Ltd.
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 OpenRoad Auto Group
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 The Hertz Corporation
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 Wagonex Limited
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 ZoomCar
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
List of Figures
Figure 1: Global: Car Subscription Market: Major Drivers and Challenges
Figure 2: Global: Car Subscription Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Car Subscription Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Car Subscription Market: Breakup by Service Providers (in %), 2020
Figure 5: Global: Car Subscription Market: Breakup by Vehicle Type (in %), 2020
Figure 6: Global: Car Subscription Market: Breakup by Subscription Period (in %), 2020
Figure 7: Global: Car Subscription Market: Breakup by End Use (in %), 2020
Figure 8: Global: Car Subscription Market: Breakup by Region (in %), 2020
Figure 9: Global: Car Subscription (OEMs and Captives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Car Subscription (OEMs and Captives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Car Subscription (Independent/Third Party Service Provider) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Car Subscription (Independent/Third Party Service Provider) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Car Subscription (IC Powered Vehicle) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Car Subscription (IC Powered Vehicle) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Car Subscription (Electric Vehicle) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Car Subscription (Electric Vehicle) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Car Subscription (1 to 6 Months) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Car Subscription (1 to 6 Months) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Car Subscription (6 to 12 Months) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Car Subscription (6 to 12 Months) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Car Subscription (More Than 12 Months) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Car Subscription (More Than 12 Months) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Car Subscription (Private) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Car Subscription (Private) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Car Subscription (Corporate) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Car Subscription (Corporate) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: North America: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: North America: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: United States: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: United States: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Canada: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Canada: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Asia-Pacific: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Asia-Pacific: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: China: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: China: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Japan: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Japan: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: India: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: India: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: South Korea: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: South Korea: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Australia: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Australia: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Indonesia: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Indonesia: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Others: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Others: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Europe: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Europe: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Germany: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Germany: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: France: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: France: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: United Kingdom: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: United Kingdom: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Italy: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Italy: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Spain: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Spain: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Russia: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Russia: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Others: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Others: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Latin America: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Latin America: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Brazil: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Brazil: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Mexico: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Mexico: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Others: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Others: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Middle East and Africa: Car Subscription Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Middle East and Africa: Car Subscription Market: Breakup by Country (in %), 2020
Figure 75: Middle East and Africa: Car Subscription Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Global: Car Subscription Industry: SWOT Analysis
Figure 77: Global: Car Subscription Industry: Value Chain Analysis
Figure 78: Global: Car Subscription Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Car Subscription Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Car Subscription Market Forecast: Breakup by Service Providers (in Million US$), 2021-2026
Table 3: Global: Car Subscription Market Forecast: Breakup by Vehicle Type (in Million US$), 2021-2026
Table 4: Global: Car Subscription Market Forecast: Breakup by Subscription Period (in Million US$), 2021-2026
Table 5: Global: Car Subscription Market Forecast: Breakup by End Use (in Million US$), 2021-2026
Table 6: Global: Car Subscription Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Car Subscription Market: Competitive Structure
Table 8: Global: Car Subscription Market: Key Players