India Shared Mobility Market Size & Outlook, 2023-2040
India shared mobility market, 2018-2040 (US$M)
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India shared mobility market highlights
- The India shared mobility market generated a revenue of USD 7.6 million in 2023 and is expected to reach USD 58.6 million by 2040.
- The India market is expected to grow at a CAGR of 12.8% from 2024 to 2040.
- In terms of segment, ride hailing was the largest revenue generating service model in 2023.
- Bike sharing is the most lucrative service model segment registering the fastest growth during the forecast period.
Shared mobility market data book summary
| Market revenue in 2023 | USD 7.6 million |
| Market revenue in 2040 | USD 58.6 million |
| Growth rate | 12.8% (CAGR from 2023 to 2040) |
| Largest segment | Ride hailing |
| Fastest growing segment | Bike sharing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2040 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ride hailing, Bike sharing, Ride sharing, Car sharing |
| Key market players worldwide | Beijing Enterprises Holdings Ltd, Bayerische Motoren Werke AG, Grab Holdings Inc Class A, GreenGood Eco-Tech, Lyft Inc Class A, Uber Technologies Inc, Avis Budget Group Inc |
Other key industry trends
- In terms of revenue, India accounted for 3.0% of the global shared mobility market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2040.
- In Asia Pacific, China shared mobility market is projected to lead the regional market in terms of revenue in 2040.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 58.6 million by 2040.
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Shared Mobility Market Scope
Shared Mobility Market Companies
| Name | Profile | # Employees | HQ | Website |
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India shared mobility market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to shared mobility market will help companies and investors design strategic landscapes.
Ride hailing was the largest segment with a revenue share of 57.89% in 2023. Horizon Databook has segmented the India shared mobility market based on ride hailing, bike sharing, ride sharing, car sharing covering the revenue growth of each sub-segment from 2018 to 2040.
India's shared mobility market is expected to grow at the highest CAGR over the forecast period, driven by a combination of urbanization, a burgeoning middle class, and digital technology adoption. Major cities like Mumbai, Delhi, and Bangalore have seen increasing traffic congestion, making shared mobility an attractive option to navigate through congested streets.
The affordability and flexibility offered by ride-sharing services, such as Ola and Uber, have made them popular among urban commuters. Moreover, the growing acceptance of shared mobility, electric scooters, and e-rickshaws have emerged as common modes of transportation in some cities.
The high penetration of smartphones and digital payment systems has further simplified access to shared mobility services. While regulatory challenges exist, the growth of shared mobility in India is expected to continue as urbanization and tech adoption persist and as efforts to improve air quality and traffic management expand.
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Horizon Databook provides a detailed overview of country-level data and insights on the India shared mobility market , including forecasts for subscribers. This country databook contains high-level insights into India shared mobility market from 2018 to 2040, including revenue numbers, major trends, and company profiles.
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India shared mobility market size, by service model, 2018-2040 (US$M)
India Shared Mobility Market Outlook Share, 2023 & 2040 (US$M)
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