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The global vehicle subscription market size is predicted to hit around US$ 80 Bn by 2030, growing ata a noteworthy CAGR of 14% during the forecast period 2021 to 2030.

The market growth can be primarily attributed to factors such as increasing demand for personal mobility, benefits of vehicle subscription models in comparison with traditional lease and outright purchase, ease of maintenance, etc. The high demand from developed regions is anticipated to play a key role in boosting the growth of the global vehicle subscription market in the first half of the forecast period. However, the Asia Pacific region is expected to provide abundant opportunities to players involved in the current vehicle subscription market landscape.

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Automotive users are finding convenience in the vehicle subscription model, owing to flexible, monthly, or yearly subscription plan offerings; however, awareness about vehicle subscription model is low in Asia Pacific, as compared to that in the U.S. and Europe. Automotive OEMs have been rolling out vehicle subscription model vehicle offerings. Competition is expected to increase in the market, as more OEMs enter, while third party players are expected to seek differentiation of their offerings compared to those of OEMs.

High Market Growth across Developed Regions

Due to the robust automotive framework and presence of top-tier companies in the developed regions, including North America and Europe, vehicle subscriptions have garnered immense popularity in these regions. While the subscription trend has gradually taken over modern day consumerism, vehicle subscription remains at a nascent stage. The automotive industry is aligning its operations in response to evolving consumer preferences by curating customized subscription plans. Some of the prominent stakeholders involved in the vehicle subscription market, including car manufacturers, insurance firms, tech-startups, lending companies, and repair companies and on the course to modify their business operations to accommodate the increasing the demand for vehicle subscription. The increasing acceptance of the term ‘temporary ownership’ among the current generation of consumers is projected to fuel the demand for vehicle subscription during the assessment period.

Furthermore, at present, consumers are of the opinion that vehicle subscription models are more cost-efficient in the long run in comparison with conventional car lease, outright purchases, or rentals– another factor that is likely to fuel the expansion of the global vehicle subscription market during the assessment period.

Increase in Consumer Demand for Flexible Subscription Models to Drive Global Market

While the developed regions are slated to remain at the forefront in terms of vehicle subscription, the Asia Pacific region is gradually entering the mix as market players in nations including India and China continue to express considerable interest in the vehicle subscription model.

Although car ownership is expected to remain popular, consumers are increasingly opting for flexible offerings. While financial factors are likely to have a strong influence on the eventual consumer purchase decisions, other factors including possibility of changing vehicles, flexibility of terminating a contract, adjusting the scope of service, and more are expected to bolster the demand for vehicle subscription during the assessment period. The increasing popularity of electric vehicles is expected to have a strong influence on the growth of the global vehicle subscription market during the assessment period.

Drivers

Flexibility, convenience, and affordability are key factors driving the vehicle subscription market. Car subscription services represent a fundamental paradigm shift for the average automotive consumer. Instead of buying or even leasing, consumers are likely to subscribe to the vehicle, while paying a monthly subscription fee that covers complete vehicle maintenance expenses such as insurance, regular vehicle maintenance, and roadside assistance. Moreover, vehicle subscribers can swap or quit the subscribed vehicle without paying extra charges, which is nor facilitated in the vehicle leasing model. Therefore, these benefits are propelling the vehicle subscription market.

Challenges

Major restraint to the global vehicle subscription market is the well-established vehicle leasing, rental, and sharing market

Large number of vehicle leasing, rental, and shared mobility service providers are operating across the globe and hence, vehicle leasing and sharing services have a strong foothold across the globe. This, in turn, is restraining the global vehicle subscription market.

Design of more flexible leasing models and better ride-hailing features offered by service providers are estimated to further restrain the vehicle subscription market

Report Coverage	Details
Market Size	US$ 80 Billion by 2030
Growth Rate	CAGR of 14% From 2021 to 2030
Base Year	2020
Forecast Period	2021 to 2030
Segments Covered	Subscription, Service Provider, Package, End User
Companies Mentioned	Fair Financial Corp, Clutch Technology, CarNext, FlexDrive, Cluno GmbH, DriveMyCar, Rentals Pty Ltd.

Report Highlights

• The global vehicle subscription market has been segmented based on subscription type, service provider, package, end user, and region
• Based on subscription type, the multi brand segment dominated the global vehicle subscription market, as currently with multi brand mobility, providers offer the flexibility of switching to cross-brands. Thus, multi brand subscription type holds a major share of the market.
• Based on service type, the mobility providers segment holds a major share of the market, as mobility providers are early adopters of vehicle subscription model, while in recent times, OEMs have started offering vehicle subscription, individually, and with the support of technology companies
• Based on package, the standard segment is estimated to hold a major share of the market. This segment is likely to maintain its dominance of the market.
• Based on end user, the private segment accounted for a major share, while business class end users have started adopting subscription models. The business segment is projected to gain higher market share in the near future.

Regional Analysis

• Based on region, the global vehicle subscription market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
• Asia Pacific is anticipated to hold a major share of the global market. The market in the region is anticipated to expand at a high growth rate, as compared to the market in other regions, owing to rise in population, urbanization, industrialization and improvement in living standards of the people in the region. This is estimated to boost vehicle sales in rapidly developing countries such as China and India. Moreover, the introduction of the vehicle subscription services is projected to facilitate access to four-wheelers for more number of middle class people in the region at a flexible monthly package covering all maintenance fees excluding fuel cost.

Key Players

• Fair Financial Corp
• Clutch Technology
• CarNext
• FlexDrive
• Cluno GmbH
• DriveMyCar
• Rentals Pty Ltd.

Market Segmentation

• Vehicle Subscription Market, by Subscription Type
  • Single Brand
  • Multi Brand
• Vehicle Subscription Market, by Service Provider
  • OEM/Captives
  • Mobility Providers
  • Technology Companies
• Vehicle Subscription Market, by Package
  • Budget
  • Standard
  • Premium
• Vehicle Subscription Market, by End User
  • Business
  • Private
• Vehicle Subscription Market, by Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Table of Contents

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics

5.1.1. Market Drivers

5.1.2. Market Restraints

5.1.3. Market Opportunities

5.2. Porter’s Five Forces Analysis

5.2.1. Bargaining power of suppliers

5.2.2. Bargaining power of buyers

5.2.3. Threat of substitute

5.2.4. Threat of new entrants

5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis

6.1.2. Key Strategies Adopted by Players

6.1.3. Vendor Landscape

6.1.3.1. List of Suppliers

6.1.3.2. List of Buyers

Chapter 7. Global Vehicle Subscription Market, By Subscription

7.1. Vehicle Subscription Market, by Subscription Type, 2021-2030

7.1.1. Single Brand

7.1.1.1. Market Revenue and Forecast (2017-2030)

7.1.2. Multi Brand

7.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 8. Global Vehicle Subscription Market, By Service Provider

8.1. Vehicle Subscription Market, by Service Provider, 2021-2030

8.1.1. OEM/Captives

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Mobility Providers

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Technology Companies

8.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Vehicle Subscription Market, By Package Type 

9.1. Vehicle Subscription Market, by Package Type, 2021-2030

9.1.1. Budget

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Standard

9.1.2.1. Market Revenue and Forecast (2017-2030)

9.1.3. Premium

9.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Vehicle Subscription Market, By End User Type 

10.1. Vehicle Subscription Market, by End User Type, 2021-2030

10.1.1. Business

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Private

10.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Vehicle Subscription Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.1.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.1.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.1.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.1.5. U.S.

11.1.5.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.1.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.1.5.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.1.5.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.1.6. Rest of North America

11.1.6.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.1.6.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.1.6.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.1.6.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.2.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.2.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.2.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.2.5. UK

11.2.5.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.2.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.2.5.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.2.5.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.2.6. Germany

11.2.6.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.2.6.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.2.6.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.2.6.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.2.7. France

11.2.7.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.2.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.2.7.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.2.7.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.2.8. Rest of Europe

11.2.8.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.2.8.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.2.8.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.2.8.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.3.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.3.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.3.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.3.5. India

11.3.5.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.3.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.3.5.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.3.5.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.3.6. China

11.3.6.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.3.6.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.3.6.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.3.6.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.3.7. Japan

11.3.7.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.3.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.3.7.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.3.7.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.3.8. Rest of APAC

11.3.8.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.3.8.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.3.8.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.3.8.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.4.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.4.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.4.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.4.5. GCC

11.4.5.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.4.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.4.5.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.4.5.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.4.6. North Africa

11.4.6.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.4.6.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.4.6.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.4.6.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.4.7. South Africa

11.4.7.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.4.7.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.4.7.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.4.7.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.4.8. Rest of MEA

11.4.8.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.4.8.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.4.8.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.4.8.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.5.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.5.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.5.5. Brazil

11.5.5.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.5.5.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.5.5.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.5.5.4. Market Revenue and Forecast, by End User Type (2017-2030)

11.5.6. Rest of LATAM

11.5.6.1. Market Revenue and Forecast, by Subscription (2017-2030)

11.5.6.2. Market Revenue and Forecast, by Service Provider (2017-2030)

11.5.6.3. Market Revenue and Forecast, by Package Type (2017-2030)

11.5.6.4. Market Revenue and Forecast, by End User Type (2017-2030)

Chapter 12. Company Profiles

12.1. Fair Financial Corp

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Clutch Technology

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. CarNext

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. FlexDrive

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Cluno GmbH

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. DriveMyCar

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Rentals Pty Ltd.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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