Shared Mobility - Canada

Canada

Canada's Shared Mobility market is projected to experience significant growth over the next few years.
By 2024, the market's revenue is expected to reach US$20,760.00m.
Moreover, the market's revenue is expected to grow at an annual growth rate of 1.63% between 2024 and 2028, resulting in a market volume of US$22,150.00m by 2028.
Flights is the largest of the Shared Mobility markets, with a projected market volume of US$10,740.00m in 2024.
By 2028, the number of users in Public Transportation is expected to be the highest among Shared Mobility markets with 17,770.00k users.
In 2024, the user penetration rate is expected to be 91.1%, which is projected to increase to 91.1% by 2028.
The average revenue per user (ARPU) is expected to be US$582.50.
In the Shared Mobility market, 72% of total revenue is projected to be generated through online sales by 2028.
In terms of global comparison, China is projected to generate the most revenue in the Shared Mobility market, with a projected revenue of US$412bn in 2024.
Shared mobility services in Canada, such as car-sharing and bike-sharing, are gaining popularity due to their convenience and affordability for urban residents.

Key regions: United States, Saudi Arabia, Germany, Malaysia, India

Market

Region

Region comparison

Currency

Analyst Opinion

The Shared Mobility market in Canada has been experiencing significant growth and evolution in recent years.

Customer preferences: Customers in Canada are increasingly seeking convenient and cost-effective transportation options, leading to a growing demand for shared mobility services. The desire for flexibility and sustainability is driving individuals to choose shared mobility solutions over traditional car ownership.

Trends in the market: One prominent trend in the Canadian Shared Mobility market is the rise of electric scooters and bikes as popular modes of transportation in urban areas. These eco-friendly options are not only convenient for short trips but also align with the country's focus on reducing carbon emissions.

Local special circumstances: Canada's vast geography and diverse population distribution present unique challenges and opportunities for shared mobility providers. Urban centers like Toronto and Vancouver have high population densities, making them ideal markets for shared mobility services. However, rural areas may require different approaches to cater to the transportation needs of residents.

Underlying macroeconomic factors: The growing urbanization in Canada, coupled with an increasing awareness of environmental sustainability, is driving the expansion of the Shared Mobility market. Additionally, government initiatives and investments in transportation infrastructure play a crucial role in shaping the landscape for shared mobility services across the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rentals, ride-hailing, taxi, car-sharing, bike-sharing, e-scooter-sharing, moped-sharing, trains, buses, public transportation, and flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.