Peer to peer carsharing market allows individuals to rent their personal vehicles to other individuals, providing an affordable alternative to car rental companies. This enables individuals with idle vehicles to earn from renting them at their convenience and for short time periods, while also allowing others short term access to a car when needed. Car owners list their vehicles on a carsharing platform, specifying the time period for which the vehicle is available along with rental charges. Users can search and book vehicles through the platform’s mobile application or website as per their mobility needs.

The global peer to peer carsharing market is estimated to be valued at US$ 2550.76 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2024 to 2031.

One of the key drivers for the Peer To Peer Carsharing Market Size has been the convenience and affordability it provides users for meeting their short term mobility needs. By offering on-demand access to a variety of personal vehicles through a simple booking process, these platforms have enabled individuals to avail temporary vehicle access without having to commit to ownership. This has attracted cost-conscious users who require vehicles occasionally for activities like airport trips, out-of-town drives, cargo transportation etc. thereby driving up demand in the market.

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