Car sharing activity has increased by 90% between 2008 and 2012, growing from 500,000 to over 940,000 and the trend is set to continue, according to Frost & Sullivan.
A survey of over 2,300 people was conducted across 12 European cities (including London, Manchester, Birmingham, and Edinburgh.
Martyn Briggs, Frost & Sullivan mobility programme manager, said: “Our research revealed a potential for over 15 million car sharing members in Europe alone by 2020, but there is a lot of education and behavioural change amongst consumers’ mobility patterns that need to take place to achieve such growth.
“The voice of the consumer survey yielded interesting results; for example, the majority of car sharing members (53%) were under 34, degree educated (67%), and did not own a car (51%).”
The survey also shows the market for peer to peer (P2P) car sharing is still in its nascent stage and is expected to co-exist with traditional car sharing companies like Zipcar.
From those of the whole sample, who currently own a car and are considering joining a car sharing service, over 40% would consider selling their vehicle. This underlines the continued downward trend in car ownership in major cities that adopt car sharing services.