Africa Ride Sharing Market Research Report Forecast to 2027

Africa Ride Sharing Market Research Report Forecast to 2027

Market Overview

As per MRFR, the Africa ride sharing market has been growing at a significant rate from the past few years and is expected to reach USD 497.2 million by 2027, at a CAGR of 10.6% during the forecast period, 2021–2027.

In 2020, Egypt accounted for the largest market share of nearly 33.9%, owing to the factors such as an increase in human population, rise in traffic congestion, upliftment of economic activities, a surge in sales & manufacturing practices of automotive vehicles in the region, technological developments across telecom and smartphone industries, government initiatives to boost local production, among others are contributing towards the growth. Additionally, the region is predicted to continue rising owing to the significant presence of local vehicle assemblers such as GB Auto, General Motors Egypt/Mansour Automotive, Nissan, etc., during the forecast period. Meanwhile, in 2020, Ethiopia held the second-largest market share of around 21.4%, mainly due to the rising fuel prices. Further, this growth trend is followed by South Africa, Kenya, Tanzania, and Uganda, which stood at third, fourth, fifth, and sixth positions, respectively.

Ride sharing is the newest concept in the mobility market that has gained immense popularity in the field of car-sharing, car-hailing, and carpooling practices. The ride-sharing mechanism is an arrangement over a website, or a mobile application utilized by passengers/riders to travel in a private vehicle owned and operated for a certain fee. Many apps and platforms are being developed by players around the world in which a car/vehicle driver offers a ride to the passengers/riders who can avail of the offer as per the route and price defined by the driver.

The increase in fuel prices, lack of parking spaces, and rise of innovative transportation services are the key factors driving the market growth. However, changing the policies of transport in various countries is expected to be a major restraining factor for market growth. On the other hand, autonomous vehicles for ride sharing are expected to present lucrative opportunities for the market players during the forecast period.

Market Segmentation

The Africa ride sharing market has been segmented into type, vehicle type, business model, and country. Based on type, the ride-sharing market has been bifurcated into car sharing, e-hailing, car rental, and station-based mobility. Based on the vehicle type, the ride-sharing market has been segmented into ICE vehicles, CNG/LPG vehicles, and electric vehicles. Based on the business model, the market has been split into P2P, B2B, and B2C. Based on country, the market has been segmented into Ethiopia, South Africa, Egypt, Kenya, Tanzania, and Uganda.

Major Players

Uber Technologies Inc., Lyft Inc., Didi Chuxing Technology Co., Bolt, inDriver, Grab, Gett, Ola Cabs, M Car Egypt, and Halan Inc., are the major players in the market  

COVID 19 Impacts

We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.

Companies Mentioned

Uber Technologies Inc.
Lyft Inc.
Didi Chuxing Technology Co.
Bolt
inDriver
Grab
Gett
Ola Cabs
M Car Egypt
and Halan Inc.

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