Industry research
Scope
US
Companies
51
Table of contents
What does the Shared Mobility market landscape look like in the US?
The US Shared Mobility market is highly consolidated and dominated by cars, with other types of vehicles playing a smaller role (interviews by Gain.pro). Specifically, the ride-hailing segment is dominated by Uber and Lyft, with Uber holding ~76% of the 2024 US B2C ride-hailing market share in terms of value. Similarly, the global car rental market is dominated by 5 players: Enterprise Mobility, Avis Budget Group, Hertz, Europcar Mobility Group (FR) and SIXT Group (DE), who collectively captured ~65% of the global market in 2022. When zooming in on the micromobility segment, Lime and Third Lane Mobility (through Bird) hold a combined ~60% market share in the US. These large players continue to expand their presence through strategic partnerships (e.g. vehicle OEMs) and by investing in emerging technologies (e.g. electric autonomous vehicles). At the same time, the long tail typically focuses on a particular niche or geographical location (e.g. Outdoorsy caters to the RV rental services niche) to differentiate themselves.
What is the level of investor activity in the US Shared Mobility Industry?
Investor-led interest has been significant, with ~53% of identified assets being backed by financial sponsors (as of January 2025). Investors are primarily attracted by the market's favorable long-term outlook driven by (i) convenience and cost-effectiveness, (ii) the emergence of advanced technologies such as AI and autonomous vehicles and (iii) the increasing shift from vehicle ownership to ride-hailing and pooled rides. On the other hand, deterring factors include (i) the ride-hailing and car-sharing driver shortage, (ii) long-term profitability concerns for ride-hailing and micromobility companies due to high operational costs and investments in technology, (iii) strict regulations that vary across different states in the US and (iv) low switching costs for consumers, which can reduce brand loyalty and lead to price-driven decisions.
What are the key ESG considerations in the US Shared Mobility Industry?
ESG considerations primarily relate to environmental and social challenges and, to a lesser extent, to governance aspects. Environmental topics relate to CO₂ emissions and challenges in battery disposal. While CO₂ emissions are lower compared to private vehicle ownership, players take further action by adopting electric or hybrid vehicles and address battery disposal challenges by upcycling used e-scooter and e-bike batteries. Social aspects revolve around improving working conditions for drivers, addressing low wage concerns and providing accessible services to all demographics (i.e. including individuals with disabilities). Lastly, governance aspects focus on safety procedures for the well-being of riders and drivers and conducting thorough background checks to verify drivers' backgrounds and potential involvements in crime.
Technavio (November 2023) estimates that the global mobility-as-a-service market (i.e. broader platform that integrates a range of transportation services, including public transit, beyond just shared mobility vehicles) generated ~$182.4bn in revenue in 2023 and expects it to reach ~$822.3bn by 2028 (+35.2% CAGR 2023-2028)
Statista (July 2024) projects the US shared mobility market to reach ~$314.3bn in size in 2024 and forecasts it to reach ~$345.9bn by 2029 (+1.9% CAGR 2024-2029)
Consumers are increasingly turning to shared mobility for its convenience and cost-effectiveness, with Shared Autonomous Electric Vehicles (SAEVs) projected to be $0.2-0.5 cheaper per mile than private car ownership by 2030. Additionally, ~35% of US adults are considering giving up personal vehicles by 2030, with Gen-Z and millennials showing the highest interest in going car-free (interviews by Gain.pro; Zipcar, June 2023; BCG, July 2022)
The emergence of advanced technologies such as IoT, AI and autonomous driving (e.g. robo-taxis) allows shared mobility firms to enhance operational efficiency and improve the overall user experience. To illustrate, spending on automation is expected to account for >30% of shared mobility companies' CAPEX between 2024-2029 (vs. ~22% between 2019-2024; PVcase, September 2024; McKinsey & Company, February 2024)
The shift from individual vehicle use to pooled rides is gaining traction as cities impose stricter regulations on private car usage. At the same time, the US government aims to make shared mobility more accessible. For instance, the US government's ~$550bn infrastructure plan (2021-2026) includes funding for safe street infrastructure, EV charging, public transit and shared micromobility (interviews by Gain.pro; McKinsey & Company, January 2023; GovTech, November 2022; NABSA, January 2022)
Shortage of drivers exacerbated by factors such as an aging population, inadequate training and low pay poses a long-term structural challenge for ride-hailing organizations. To illustrate, older drivers (>55 years) significantly outnumber younger drivers (>25 years). By 2030, it is expected that there will be a deficit of drivers, while ~25% of all the professional drivers (i.e. including shared mobility drivers) in the US will be 65 years or older (DPV Transportation, November 2023)
Long-term profitability concerns continue to mount in the shared (micro)mobility sector. Herein, players' profit margins continue to remain negative due to substantial operational and maintenance expenses, with limited signs of near-term profitability improvement (NACTO, July 2024; StriveCloud, February 2023)
The regulatory landscape in the US is highly fragmented, with varying rules across states and municipalities. This inconsistency complicates compliance for shared mobility providers and hampers investment and expansion efforts. To illustrate, New York City has implemented caps on the number of ride-hailing vehicles (except electric vehicles) that are allowed to operate in certain neighborhoods to mitigate congestion (interviews by Gain.pro; Tomorrow's Journey, 2024; Electrive, October 2023)
With the full report, you’ll gain access to:
Detailed assessments of the market outlook
Insights from c-suite industry executives
A clear overview of all active investors in the industry
An in-depth look into 51 private companies, incl. financials, ownership details and more.
A view on all 239 deals in the industry
ESG assessments with highlighted ESG outperformers
