U.S. Peer-to-Peer Carsharing Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2032)

The U.S. peer-to-peer (P2P) carsharing market, valued at USD 800.5 million in 2024, is set to experience a robust growth rate of 15.1% from 2025 to 2032, reaching a projected USD 2,440 million by 2032. The primary driver of this growth is the increasing demand for flexible, cost-effective transportation options. As urbanization accelerates and younger generations increasingly opt out of traditional car ownership, there is a growing shift toward carsharing services that offer convenience without long-term commitments.

Technological advancements such as mobile apps, real-time vehicle tracking, and seamless payment systems have made accessing carshare services easier than ever. Moreover, the growing integration of P2P carsharing with ride-hailing and travel apps has expanded the market's reach. The recent partnership between Turo and Uber, which will offer over 1,600 car models through Uber Rent starting in early 2025, exemplifies the market's growing synergies with other transport services.

Key Insights

The U.S. peer-to-peer carsharing market is segmented by car type, with the executive category dominating the market, holding 55% of the share in 2024. Executive cars offer a balance between comfort and cost, making them a popular choice for both business professionals and occasional renters.

The luxury car category is expected to grow at the highest compound annual growth rate (CAGR) of 16% during the forecast period. This growth is driven by modern consumers' preference for access to premium vehicles at a fraction of the purchase cost, as well as the increasing appeal of environmentally friendly alternatives.

The Midwest region leads the market with a 40% share, driven by high car ownership rates and a large supply of underutilized vehicles available for sharing. The region's cost sensitivity further boosts the demand for affordable carsharing options.

The Western U.S. will experience the highest growth rate of 15.5% during the forecast period. Dense urban populations, limited parking, and a strong sustainability focus make carsharing an attractive solution in cities like San Francisco, Los Angeles, and Seattle.

The growing integration of Mobility-as-a-Service (MaaS) platforms is a key trend. MaaS platforms combine various modes of transport, including carsharing, into one seamless service, offering users a broader range of transportation choices. A survey revealed that 44% of U.S. adults aged 18-34 are open to abandoning private vehicle ownership in favor of MaaS solutions.

Cost savings and flexibility are significant market drivers, as P2P carsharing allows users to avoid the high costs associated with car ownership, including fuel, maintenance, and parking. Turo's 9% year-over-year growth in revenue, reaching USD 958 million in 2024, underscores the financial appeal of these services.

Competition in the U.S. P2P carsharing market is highly fragmented, with numerous platforms such as Turo, Getaround, and HyreCar, each targeting specific consumer segments. This fragmentation makes it easier for new entrants to carve out niches by offering specialized services or focusing on particular vehicle types.

In June 2023, Uber Technologies announced plans to expand its Uber Carshare platform into Boston and Toronto, further indicating the growing competition and collaboration in the carsharing sector.

Major players in the market include Turo, Getaround, HyreCar, Maven, and Zoomcar, among others, with each continuing to expand and innovate in response to the growing demand for flexible and sustainable transportation solutions.