Car pool or car-pooling was introduced to reduce environmental pollution and also curtail excessive fuel consumption ensuring that the economy is balanced out. Car pool followed by a regular car wash, gave rise to a substantially sized car wash industry in the United States (US).
Growth of Car-pooling Industry
Carpooling as a service or as a rationing technique grew up in the US during the World War II. But it was only during the mid to the late 1950s that the car pool car services started taking shape. Business owners across major American cities started offering carpool auto services at comparatively lower prices. Customers were impressed by the cheap car pool prices nearby that helped them reach their destination on time.
However, the 1970s witnessed a gradual downturn in the car-pooling car wash services. Needless to say, many business owners started suffering losses running such a trade.
Outlook of Global car-pooling market
Estimates say that the car pooling market will decline to $16.10 billion in the current year from $19.82 billion in 2019. This decline in carpooling as a service will be at a compound annual growth rate (CAGR) rate of -18.77%. The main reason for the drop in growth is due to the ongoing pandemic that has resulted in economic meltdown the world over.
The car-pooling market is technologically an advanced form of the transportation system. Tesla, in 2020 February announced its plan to introduce “ride sharing application”.
If you stay safe and follow all the norms of social distancing, you can keep the deadly virus at bay. With proper measures, carpooling as a service will be soon in demand again.