Yicai Global: China’s Mobility Services Market To Hit USD55 Billion By 2030, Report Says
December 04, 2022
China’s mobility services market is expected to reach USD55 billion by 2030 thanks to more digitized and shared services such as ride-hailing, car-as-a-service, and electric vertical take-off and landing aircraft, according to a recent research report.
Ride-hailing, taxis, and car-as-a-service models will account for about 90 percent of China’s mobility service market by 2030, the findings of a report by international management consultants Oliver Wyman Forum showed. The Chinese market will be bigger than those of Singapore and India combined.
While the rise of digital and shared mobility services offers more affordable and convenient means of travel, an urban mobility network combining a mass transit system with ride-hailing or car hiring is needed to create more efficient and sustainable ways to get about.
The eVTOL aircraft market is expected to reach USD2.6 billion by 2030, as Asia’s increased urbanization, congestion, and growing disposable income are creating a strong business case for intra- and inner-city air travel, said Andreas Nienhaus, a partner at Oliver Wyman, and Zhang Junyi, a partner of the firm’s Shanghai office and head of its China auto branch.
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