The increasing concerns being raised in many countries over the rising greenhouse gas emissions and the rapid environmental damage being caused due to the large-scale usage of oil and gas-powered vehicles are fueling the popularity of novel mobility solutions such as carsharing services. Moreover, the deteriorating air quality levels in several countries because of harmful emissions from vehicles are making the governments of these countries implement various initiatives and strict environmental protection policies.

For example, the Mayor of London, Sadiq Khan, announced in November 2018 that the city intends to initiate the development of public parking spaces for facilitating the easier and hassle-free parking of public cars. The initiative is also aimed at reducing the private ownership of cars in the city. Furthermore, carsharing is turning out to be an excellent method for curbing the pollution levels, without negatively impacting the commuting needs of people.

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The growing adoption of carsharing services would massively reduce the number of private vehicles running on roads, which would, in turn, minimize the amount of carbon dioxide and other harmful gases being released into the atmosphere. Hence, with the increasing usage of these services, the global carsharing market is set to demonstrate huge expansion in the forthcoming years. Based on car type, the market is divided into executive, luxury, and economy.

As a result, the fuel-based category will register huge expansion in the market in the forthcoming years. Globally, the Asia-Pacific (APAC) carsharing market is currently the most lucrative one, as per the findings of P&S Intelligence, a market research firm based in India. In APAC, the market is recording the highest growth in China. This is because many Chinese cities increased the utilization of electric vehicles in various carsharing platforms in 2017 for achieving a greener and cleaner environment.

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Hence, it is safe to say that the demand for carsharing services would shoot-up across the world in the upcoming years, mainly because of the rising requirement for shared mobility solutions, on account of the escalating pollution levels in many countries due to the large-scale usage of fossil fuel-based vehicles.