China's car-hailing industry policy, market size and investment prospects

In order to ensure the accuracy of data in the ride-sharing industry and the referable value of the content, the Zhiyan consulting research team carries out data collection through multiple channels such as listed company annual reports, manufacturer surveys, dealer discussions, and expert verification, and conducts multidimensional analysis of the data in order to deeply analyze various fields of the industry. Enable practitioners to comprehensively understand the development trend of the car-hailing industry in 2022 from a variety of dimensions and sides, as well as innovative frontier hot spots, and then empower car-hailing practitioners to start the transformation track.

Online car booking, short for online booking taxi service, refers to the business activities of building a service platform based on Internet technology, accessing qualified vehicles and drivers, and providing non-cruise booking taxi services by integrating supply and demand information.

Online car hailing refers to taxi services provided through Internet platforms, which are mainly divided into the following categories: Private car hailing: Online car hailing services provided by private car owners, usually their own private cars, to provide taxi services through Internet platforms; Ride-hailing: a ride-hailing service provided by a taxi company, usually a taxi company's vehicle, that provides taxi services via an Internet platform; Express: Provide more economical online car hailing services, usually private cars or taxi company vehicles, through the Internet platform to provide taxi services; Private car: Provide high-end online car-hailing services, usually luxury cars or commercial vehicles, and provide taxi services through the Internet platform; Hitch: A carpooling service provided by private car owners, usually private cars, via an Internet platform; Vehicle rental: The provision of long-term or short-term rental of vehicles, usually commercial or luxury vehicles, through the Internet platform to provide rental services.

The industrial chain consumption of China's online car hailing industry is complex, and the industrial chain is produced from the driver service end to the end user, whose driver end is mainly car enterprises, taxi companies, car ownership companies, private cars; Through these channels, drivers have passenger cars that can use the service and move into the platform through C2C mode, taxi company, B2B mode and other organizational modes; Platform types are divided into aggregation platform and vertical platform. Aggregation platform mainly includes Alipay, wechat, Meituan, Ctrip, Dianping, Amap Didi Travel, etc. Vertical platforms mainly include Dida travel, Huaxiaozhu, Shenzhou special car, etc. Finally, it flows to car-hailing consumers.

The size of the global online car market has shown a rapid growth trend in the past few years. According to the data, the global online car market has ushered in explosive growth since 2016. In 2019, the global online car market size is about 74.58 billion US dollars. In 2021, the global car-hailing industry market size began to pick up, in 2022, the global car-hailing industry market size of about 76.67 billion US dollars, has recovered to the pre-epidemic level, 2015-2022 compound growth rate of 21.75%, is expected in 2023, the global car-hailing industry market size of about 82.42 billion US dollars.

With the popularity of smart phones and mobile Internet, people's way of travel has changed, and online car booking has emerged as a new way of travel. China's urbanization process is accelerating, urban traffic congestion and travel problems are becoming increasingly prominent, and online car booking as a flexible and convenient way to travel has been favored by more and more people. The Chinese government actively promotes the integrated development of the Internet and the real economy, supports and regulates the development of the e-hailing industry, and provides a policy environment to support the rapid development of the e-hailing industry. The development of new energy vehicles and autonomous driving technology has brought new opportunities and challenges to the ride-hailing industry, and promoted the transformation and upgrading of the ride-hailing industry. According to the data, after experiencing the epidemic in 2020, China's online car has gradually recovered its vitality in the past two years, and the market size of China's online car industry will be about 256.2 billion yuan in 2022, with a compound growth rate of 31.79% from 2015 to 2022. In the future, with the development of new energy vehicles and autonomous driving technology, China's ride-hailing industry is expected to further improve the quality of service and user experience, and achieve higher quality development.

The size of China's car-hailing market can be divided into special express cars and carpooling services. According to the data, special express cars occupy most of the market share. According to the data, in 2022, the size of China's special express cars is 249.064 billion yuan, and the size of the carpooling services market is 7.136 billion yuan. It shows that the main application scenario of China's online car booking users is in the urban area, while there are fewer applications outside the urban area and peer carpooling. It is expected that the market size of China's online car booking express will rise to 277.561 billion yuan in 2023, and the market size of online car sharing will rise to 7.639 billion yuan.