Growing Awareness of Peer-to-Peer Carsharing Will Boost Carsharing Rentals in Less Populated Areas in Europe, Says Frost & Sullivan

Growing Awareness of Peer-to-Peer Carsharing Will Boost Carsharing Rentals in Less Populated Areas in Europe, Says Frost & Sullivan PR Newswire LONDON, Aug. 23, 2012 - Three new segments emerging in the market, due to continued urbanisation and changing social preferences LONDON, Aug. 23, 2012 /PRNewswire/ -- By 2020 more than 200 traditional carsharing organisations (CSOs) and another 24 Peer-to-Peer (P2P) CSOs are expected to take the European market for carsharing to new heights. More than 14 million new members are expected to use carsharing services in Europe by the same year, while three new sub-segments will emerge in the market: electric vehicle carsharing, corporate carsharing and one-way carsharing. While the new segments arise in particular due to continued urbanisation and changing social preferences, growing awareness about P2P carsharing is expected to boost carsharing rentals in less populated areas in Europe. New analysis from Frost & Sullivan (www.automotive.frost.com) revealed that the European market for traditional carsharing services counted 0.7 million subscribers by the end of 2011 and is expected to reach nearly 15 million subscribers by 2020. The number of vehicles reached approximately 21,000 by 2011 and is expected to increase to almost 240,000 by 2020. To capitalise on this growth trend, companies are inorganically expanding, as seen by Zipcar having recently acquired Austrian Denzeldrive carsharing.