Product Code: CMI6725
The vehicle subscription market is estimated to be valued at USD 4.52 Bn in 2024 and is expected to reach USD 35.49 Bn by 2031, growing at a compound annual growth rate (CAGR) of 34.2% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2023/2024: |
US$ 4.52 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: |
34.20% |
2030/2031 Value Projection: |
US$ 35.49 Bn |
Vehicle Subscription Market Share (%), By Region, 2024
The vehicle subscription market enables users to have flexible access to vehicles for a fixed monthly fee rather than committing to traditional vehicle ownership. This emerging business model provides an alternative to traditional leasing programs by allowing subscribers to choose between a variety of vehicle makes and models. The concept of subscription services not just provides flexibility but also reduces hassles associated with maintenance, insurance, and long-term commitment.
Market Dynamics:
The global vehicle subscription market is driven by the rising preferences towards asset-light lifestyles along with growing demand for flexible mobility solutions. Changing demographics along with increasing disposable incomes have boosted interest in alternative vehicle access models. However, high initial investment requirements to establish subscription services pose a challenge for market growth. Meanwhile, evolving digital trends present opportunities for subscription platforms to offer enhanced customization and switch vehicles as per changing needs through mobile apps.
Key Features of the Study:
- This report provides an in-depth analysis of the global vehicle subscription market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global vehicle subscription market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Arval BNP Paribas, Avis Budget Group, Carvolution, EZOO., LeasePlan, Lyft Inc., Mercedes-Benz Mobility, Orix, SIXT, The Hertz System, Inc., Volkswagen, Volvo Car Corporation, Flexdrive , Cluno GmbH, Myles , MARUTI SUZUKI INDIA LIMITED, Autoflex, General Motors, Upshift, inc., and LMP AUTOMOTIVE HOLDINGS, INC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global vehicle subscription market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle subscription market.
Market Segmentation
- By Vehicle Type
- IC Engine
- Electric Vehicles
- By Subscription Type
- Single Brand Subscription
- Multi Brand Subscription
- By Subscription Period
- 0-6 months
- 6-12 months
- More than 12 months
- By Service Providers
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
- Key Players Insights
- Arval BNP Paribas
- Avis Budget Group
- Carvolution
- EZOO.
- LeasePlan
- Lyft Inc.
- Mercedes-Benz Mobility
- Orix
- SIXT
- The Hertz System, Inc.
- Volkswagen
- Volvo Car Corporation
- Flexdrive
- Cluno GmbH
- Myles
- MARUTI SUZUKI INDIA LIMITED
- Autoflex
- General Motors
- Upshift, inc.
- LMP AUTOMOTIVE HOLDINGS, INC
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
2. Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Vehicle Type
- Market Snapshot, By Subscription Type
- Market Snapshot, By Subscription Period
- Market Snapshot, By Service Providers
- Market Snapshot, By Region
- Market Scenario - Conservative, Likely, Opportunistic
- Market Opportunity Map
3. Market Dynamics and Trend Analysis
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Impact Analysis
- Pest Analysis
- Porters Analysis
- Regulatory Scenario
- COVID-19 Impact Analysis
- Absolute Dollar Opportunity Analysis & BPS Analysis
- Value Chain Analysis
- New Product Approvals
- Promotion and Marketing Initiatives
- Market Attractiveness, By Country
- Market Attractiveness, By Market Segment
- Key Developments & Deals
- Trend Analysis - Historic and Future Trend Assessment
- Key Developments
4. Global Vehicle Subscription Market, By Vehicle Type , 2019 - 2031 (US$ Billion)
- Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
- IC Engine , 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
- Electric Vehicles, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
5. Global Vehicle Subscription Market, By Subscription Type, 2019 - 2031 (US$ Billion)
- Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
- Single Brand Subscription , 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
- Multi Brand Subscription , 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
6. Global Vehicle Subscription Market, By Subscription Period, 2019 - 2031 (US$ Billion)
- Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
- 0-6 months , 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
- 6-12 months , 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
- More than 12 months, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
7. Global Vehicle Subscription Market, By Service Providers, 2019 - 2031 (US$ Billion)
- Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031
- Market Y-o-Y Growth Comparison (%), 2019 - 2031
- Segment Trends
- OEM, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
- Third Party, 2019 - 2031(US$ Billion)
- Introduction
- Market Size and Forecast, 2019 - 2031, (US$ Billion)
8. Global Vehicle Subscription Market, By Region, 2019 - 2031 (US$ Billion)
- Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031, (US$ Billion)
- Market Y-o-Y Growth Comparison (%), 2024 - 2031, (US$ Billion)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Vehicle Type , 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Period, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Service Providers, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, By Vehicle Type , 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Period, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Service Providers, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest Of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Vehicle Type , 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Period, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Service Providers, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
- China
- India
- Japan
- Australia
- South Korea
- Asean
- Rest Of Asia Pacific
- Middle East & Africa
- Introduction
- Market Size and Forecast, By Vehicle Type , 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Period, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Service Providers, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
- GCC
- Israel
- Rest Of Middle East & Africa
- Latin America
- Introduction
- Market Size and Forecast, By Vehicle Type , 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Type, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Subscription Period, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Service Providers, 2019 - 2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Billion)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
9. Company Profiles - Global Vehicle Subscription Market
- Arval BNP Paribas
- Company Overview
- Product/Service Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategic Overview
- Avis Budget Group
- Carvolution
- EZOO.
- LeasePlan
- Lyft Inc.
- Mercedes-Benz Mobility
- Orix
- SIXT
- The Hertz System, Inc.
- Volkswagen
- Volvo Car Corporation
- Flexdrive
- Cluno GmbH
- Myles
- MARUTI SUZUKI INDIA LIMITED
- Autoflex
- General Motors
- Upshift, inc.
- LMP AUTOMOTIVE HOLDINGS, INC
10. References and Research Methodology
- References
- Research Methodology
- About us and Sales Contact