Car rental by the minute, a threat to the oil market — Carsharing

The oil industry has a new problem, thanks to car-sharing companies that rentcars for rentevery minute. Using an example, we will discuss the rapid development of such services in China. There are already 26 thousand carsharing cars driving around the streets of Beijing. Although just 2 years ago, the demand was half as much. According to the calculations of experts, it can be determined that in 10 years the number of such machines will be about 600 thousand.The government in China restricts residents of megacities with its rules on car ownership, public transport is overflowing with passengers of a rapidly growing population, besides, there is a constant fight against oxygen pollution in the country; Thus, there is little that prevents the carsharing business from developing actively.  Foreign car rental companies have identified the rapidly growing progress carsharing, and now they are showing great interest in the Asian market. At the moment, about 90% of the operators are Chinese representatives.Car rental has been developing in Europe for decades, the car-sharing business already has a huge number of competitors. The Asian market is much younger, especially in India and China, where the population, earnings and demand are growing rapidly.Now let's look at the numbers. Analysts from the United States have calculated that in 2015, in monetary terms, the carsharing market amounted to about $ 1 billion, and in ten years it will increase to the amount of $ 7 billion. Frost & Sullivan consulting company has determined that by expanding the per-minutecar rental, cash flow will be reduced by almost $ 6 billion per year. 15% less carbon dioxide will be released into the atmosphere. And the speed of movement in the city will increase by 50%.