세계의 차량 구독 시장 예측(-2028년)

According to Stratistics MRC, the Global Vehicle Subscription Market is accounted for $3909.6 million in 2022 and is expected to reach $22432.26 million by 2028 growing at a CAGR of 33.8% during the forecast period. A vehicle subscription service is one in which a consumer pays a monthly charge to utilise one or more automobiles. Some vehicle subscriptions include insurance and maintenance as part of the monthly charge, while others allow the subscriber to transfer between vehicles during the subscription time. According to industry observers, a vehicle's subscription is an alternative to acquiring or leasing a vehicle. The difference between a vehicle subscription and owning a vehicle is that the subscription provider keeps vehicle ownership. In contrast, vehicle rental necessitates the effort of locating vehicles for certain dates or trips.

According to Frost & Sullivan, China is likely to account for 55 percent of all electric vehicle sales. In comparison, 21.2 percent of EVs will be sold in the Americas - the second largest market share - and the rest of the Asia-Pacific region is responsible for only 4.2 percent of EV sales.

Market Dynamics:

Driver:

Affordable and accessible vehicles

The vehicles subscription business is quickly developing because to vehicle affordability and accessibility. Furthermore, the significant increase in disposable income of consumers in developing countries is expected to drive market expansion. The cost-effectiveness and accessibility of user access to vehicles are driving the global adoption of the vehicle subscription model. For example, Fair Financial Corporation announced the relaunch of its app for offering subscriptions to its used car inventory. Fair plans to begin subscriptions for used-car leases provided by third-party vendors in the first quarter of 2022, with the goal of becoming a central point for all automotive retail.

Restraint:

Poor transport infrastructure facilities witnessed in developing countries

Increased demand for vehicle leasing, car sharing, and car rental, as well as more cost-effective vehicle leasing models compared to vehicle subscription services, may stymie the global expansion of the vehicle subscription sector. Inadequate transportation infrastructure and hefty monthly fees for short-term automobile subscriptions in emerging economies may stymie the global vehicle subscription industry's growth.

Opportunity:

Rising cost of vehicle ownership & shifting consumer preference from ownership to usership

The fast rise in the cost of car ownership is driving individuals to switch to subscription services. According to the American Automobile Association, the average cost to purchase and run a new car in 2022 will be USD 10,738 (up 11% from last year). Rising fuel prices, depreciation, a shortage of microchips, and costly maintenance and insurance charges have all contributed to high operating expenses. As a result, people are increasingly turning to subscription services as an alternative to vehicle ownership.

Threat:

Availability of alternatives: such as vehicle leasing and sharing

The availability of various mobility services, such as rental, car leasing, and sharing services, is expected to limit market expansion. Leasing an automobile is a more cost-effective short-term choice than subscription programmes because it comes with lower monthly payments. Another disadvantage of the subscription programme is the limited monthly miles, which may preclude the possibility of extensive daily trips.

COVID-19 Impact:

During the COVID-19 pandemic, the whole automotive industry saw a dip in income due to decreased automobile sales and production, a disrupted supply chain, and customers' focus on lowering the expenses of unnecessary purchases. However, throughout the epidemic, the use of vehicle subscription services increased. The increasing number of health concerns among the people, combined with a decrease in the usage of shared mobility and mass transportation as a precaution against the virus, has accelerated the global vehicle subscription market growth. Vehicle subscription has also received a lot of attention in the mainstream media, which has increased customer popularity and interest.

The electric vehicle segment is expected to be the largest during the forecast period

The electric vehicle segment is estimated to have a lucrative growth owing to the increased penetration of the electric vehicle sales and the traction towards electric mobility. The growing popularity of EVs will drive up demand for EV subscription services. Toyota, GM, Stellantis, Honda, Nissan, and others are reporting more EV sales as increasing petrol costs continue to enhance EV popularity. Furthermore, the government's commitment in encouraging electric vehicles will contribute positively to the expansion of the vehicle subscription industry.

The independent/third party service provider segment is expected to have the highest CAGR during the forecast period

The independent/third party service provider segment is anticipated to witness the highest CAGR growth during the forecast period. The expanding number of independent third-party suppliers or startups offering generally multi-brand car subscriptions through their platforms is fuelling segment growth. Companies such as Cluno, Flexdrive, Turo, Fair, Carvolution, and Drove, among others, provide multi-brand subscription services across multiple areas.

Region with highest share:

Europe is projected to hold the largest market share during the forecast period. The existence of various mobility service providers as well as established automakers such as Mercedes, BMW, and others is propelling the market forward. Furthermore, Europe has a strong presence in the automotive sector; thus, shifting the focus of European automakers to mobility service-based models to diversify their business in response to the interests of the new generation is expected to generate lucrative opportunities for the region's market.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. Rising awareness of subscription-based models, as well as government emphasis on automotive electrification to combat climate change, are some of the drivers driving the region's market growth. The expensive cost of electric automobiles is driving the public to adopt subscription-based electric mobility services. Furthermore, the presence of a robust automotive sector, along with a diminishing interest in car ownership among the younger generation, is expected to enhance market growth throughout the projection period.

Key players in the market:

Some of the key players profiled in the Vehicle Subscription Market include: CarNext, Hyundai Motor India, Wagonex Limited, Volkswagen, DriveMyCar Rentals Pty Ltd, General Motors, Fair Financial Corp., FlexDrive, ZoomCar, AB Volvo, ORIX, Carvolution, Arval BNP Paribas Group, Lyft Inc. , Cluno GmbH and Clutch Technologies, LLC.

Key Developments:

In October 2022, Carvolution raised USD 16.12 million in Series D funding from Redalpine. With the investment, Carvolution aims to further expand its car subscription business. It also seeks to deploy a part of the funds to simplify buying and selling used cars by bringing them online for its customers.

In March 2022, Arval launched its flexible vehicle subscription solution, Arval Adaptiv, for private customers. The subscription will allow its private customers to choose a specific model within a range of selected cars, both ICE and EVs, with flexibility in terms of duration.

In September 2021, Orix partnered with Volkswagen for a subscription-based car ownership model. Orix, in partnership with Volkswagen, will offer its customers on-road financing, insurance cover, periodic maintenance, and an option to return or upgrade the car at the convenience of the customer.

In October 2020, AB Volvo added flexibility to its subscription program. In this program, customers can upgrade or return a new subscription at any time after the first four months. The flexible subscription enhances the car subscription by including maintenance and insurance costs.

Subscription Types Covered:

• Single Brand (Single Brand Swap)
• Multiple Brand (Multi Brand Swap)

Vehicle Types Covered:

• Electric Vehicle
• IC Powered Vehicle

Subscription Periods Covered:

• 1 to 6 Months
• 6 to 12 Months
• More than 12 Months

Service providers Covered:

• Independent/Third Party Service Provider
• OEMs & Captives

Packages Covered:

• Premium
• Standard
• Budget

End Users Covered:

• Private
• Business

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 End User Analysis
• 3.7 Emerging Markets
• 3.8 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Vehicle Subscription Market, By Subscription Type

• 5.1 Introduction
• 5.2 Single Brand (Single Brand Swap)
• 5.3 Multiple Brand (Multi Brand Swap)

6 Global Vehicle Subscription Market, By Vehicle Type

• 6.1 Introduction
• 6.2 Electric Vehicle
• 6.3 IC Powered Vehicle

7 Global Vehicle Subscription Market, By Subscription Period

• 7.1 Introduction
• 7.2 1 to 6 Months
• 7.3 6 to 12 Months
• 7.4 More than 12 Months

8 Global Vehicle Subscription Market, By Service providers

• 8.1 Introduction
• 8.2 Independent/Third Party Service Provider
• 8.3 OEMs & Captives

9 Global Vehicle Subscription Market, By Package

• 9.1 Introduction
• 9.2 Premium
• 9.3 Standard
• 9.4 Budget

10 Global Vehicle Subscription Market, By End User

• 10.1 Introduction
• 10.2 Private
• 10.3 Business

11 Global Vehicle Subscription Market, By Geography

• 11.1 Introduction
• 11.2 North America
  • 11.2.1 US
  • 11.2.2 Canada
  • 11.2.3 Mexico
• 11.3 Europe
  • 11.3.1 Germany
  • 11.3.2 UK
  • 11.3.3 Italy
  • 11.3.4 France
  • 11.3.5 Spain
  • 11.3.6 Rest of Europe
• 11.4 Asia Pacific
  • 11.4.1 Japan
  • 11.4.2 China
  • 11.4.3 India
  • 11.4.4 Australia
  • 11.4.5 New Zealand
  • 11.4.6 South Korea
  • 11.4.7 Rest of Asia Pacific
• 11.5 South America
  • 11.5.1 Argentina
  • 11.5.2 Brazil
  • 11.5.3 Chile
  • 11.5.4 Rest of South America
• 11.6 Middle East & Africa
  • 11.6.1 Saudi Arabia
  • 11.6.2 UAE
  • 11.6.3 Qatar
  • 11.6.4 South Africa
  • 11.6.5 Rest of Middle East & Africa

12 Key Developments

• 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 12.2 Acquisitions & Mergers
• 12.3 New Product Launch
• 12.4 Expansions
• 12.5 Other Key Strategies

13 Company Profiling

• 13.1 CarNext
• 13.2 Hyundai Motor India
• 13.3 Wagonex Limited
• 13.4 Volkswagen
• 13.5 DriveMyCar Rentals Pty Ltd
• 13.6 General Motors
• 13.7 Fair Financial Corp.
• 13.8 FlexDrive
• 13.9 ZoomCar
• 13.10 AB Volvo
• 13.11 ORIX
• 13.12 Carvolution
• 13.13 Arval BNP Paribas Group
• 13.14 Lyft Inc.
• 13.15 Cluno GmbH
• 13.16 Clutch Technologies, LLC