India Shared Mobility Market to Generate Revenue Worth $3,466.7 Million by 2024

Published Date:   September 2019

The Indian shared mobility market was valued at $630.7 million in 2018, which is projected to reach $3,466.7 million by 2024, witnessing a CAGR of 27.6% during the forecast period (2019–2024). Among service types, ride hailing service dominated the market during the historical period.

Whereas, during the forecast period, the Indian shared mobility market is expected to witness the fastest growth in the two-wheeler sharing category, owing to its easy availability, time/route flexibility, and affordability (marginal premium for travel with respect to other forms of shared mobility).

Increasing Investments from Investors is a Key Trend Observed in the Market

The Indian shared mobility market is experiencing substantial amount of investments from major global investors. For instance, in June 2019, a scooter rental company, WickedRide Adventure Services Pvt. Ltd. (Bounce) received an investment of $72.0 million in a fresh funding round, which was led by B Capital Group and Falcon Edge Capital. With this fund, the company looks to expand out of Bengaluru into ten new cities in the coming years. Additionally, with this expansion, the company has planned to add 100,000 more scooters in its fleet in next 12–18 months, with a focus on electric scooters.

Cost-Effective and Convenient Mobility Option is a Major Factor Driving the Market Growth

Owning a private vehicle demands a high investment, which mainly comprises vehicle cost, fuel cost, parking expense, maintenance charge, and insurance cost. In this regard, shared mobility allows user to enjoy the facilities of owning a personal vehicle, without having the need to actually own it. The users can make the payments on the basis of their usage only. Besides, shared mobility is extremely convenient for general public, primarily daily commuters, as they can enjoy driving to their required destination without having the hassles of owning and maintaining their own vehicles. Additionally, the users can easily access to the services by booking the vehicles, directly through the companies’ mobile applications. Thus, the cost-effectiveness and convenience of shared mobility facilitates the growth of the Indian shared mobility market.

Segmentation Analysis of India Shared Mobility Market

India Shared Mobility Market

  • Ride hailing is the largest service type in the Indian shared mobility market, owing to the introduction of advanced technologies to improve customer experience. Furthermore, shift in the preference of millennials toward ride hailing service from conventional mobility solutions is attracting a large number of customers to this service.
  • The two-wheelers category is expected to witness the fastest growth, in terms of vehicle type, in the Indian shared mobility market. Two-wheeler shared mobility is gaining traction in view of the fact that two-wheelers address multiple pain points with respect to affordability (~26% of the cab cost), availability, and convenience.
  • The daily commuting category is projected to register the fastest growth in the Indian shared mobility market, during the forecast period. This is due to the fact that several initiatives taken by private and government organizations to encourage the adoption of shared mobility model over vehicle ownership to minimize traffic congestion and environmental pollution.
  • The personal end-use category held the largest share in 2018, in the Indian shared mobility market. This is attributed to the fact that majority of customers in India use shared mobility services for personal work, which may include going to the workplace, running errands such as grocery, and undertaking short trips such as escorting someone to and from the airport.

Geographical Analysis of India Shared Mobility Market

The south region held the largest share in the Indian shared mobility market in 2018, primarily due to the fact that the majority of shared mobility service providers are present in cities in south India, including Bengaluru, Chennai, Hyderabad, and Visakhapatnam. Additionally, the growing demand for car hailing and rental services is boosting the market growth in the region. Whereas, the north region is the second-largest revenue generator in the market, owing to the high demand for shared mobility services among people, primarily for meeting daily commuting and outstation travel needs.

Competitive Landscape of India Shared Mobility Market

The Indian shared mobility market is consolidated in nature, with the top two players, namely, ANI Technologies Pvt. Ltd. and Uber Technologies Inc. accounted for more than 60% of the market share in 2018. ANI Technologies Pvt. Ltd. (Ola) was the market leader 2018, which was followed by Uber Technologies Inc. (Uber), holding the second spot in the market.

The market is characterized by numerous strategic developments, such as investment, partnerships and collaborations, and service launches. For instance, in September 2019, Mahindra & Mahindra Ltd. announced plans to acquire a 55% stake in ride hailing and radio taxi service provider, Meru Travel Solutions Pvt. Ltd. (Meru) (including all of its subsidiaries), for a cash consideration of up to $29.5 million (INR 201.5 crore). Mahindra & Mahindra Ltd. will make a primary investment of $15.2 million (INR 103.5 crore) by a fresh issue of shares in the company, in tranches. This investment in the company is aimed at uplifting the ride hailing business of Meru and generate more revenues.

Browse report overview with detailed TOC on "India Shared Mobility Market Research Report: By Service Type (Two-Wheeler Sharing, Ride Sharing, Ride Hailing, Car Rental, Carsharing, Bus/Shuttle Service), Vehicle Type (Two-Wheelers, Cars, Buses/Vans), Commuting Pattern (Daily Commuting, Last-Mile Connectivity, Occasional Commuting), End Use (Personal, Business), Regional Outlook – Industry Size, Share Analysis and Growth Forecast to 2024" at:

Some of the other major players operating in the Indian shared mobility market include Zoomcar India Pvt. Ltd., Drivezy India Travels Pvt. Ltd., Carzonrent India Pvt. Ltd., Vogo Automotive Pvt. Ltd., WickedRide Adventure Services Pvt. Ltd., Royalbison Autorentals India Pvt. Ltd., Roppen Transportation Services Pvt. Ltd., Bashar Technologies Pvt. Ltd., Meru Mobility Tech Pvt. Ltd., Bycyshare Technologies Pvt. Ltd., Yulu Bikes Pvt. Ltd., Motocruizer Technologies India Pvt. Ltd., Comuto SA, and Mega Cabs Pvt. Ltd.

India Shared Mobility Market Segmentation

Market Segmentation by Service Type

  • Two-Wheeler Sharing
  • Ride Sharing
  • Ride Hailing
  • Car Rental
  • Carsharing
  • Bus/Shuttle Service

Market Segmentation by Vehicle Type

  • Two-Wheelers
  • Cars
  • Buses/Vans

Market Segmentation by Commuting Pattern

  • Daily Commuting
  • Last-Mile Connectivity
  • Occasional Commuting
  • Others

Market Segmentation by End Use

  • Personal
  • Business

Market Segmentation by Region

  • East
  • West
  • North
  • South