The car rental market research report provides an analysis of the car rental industry including a snapshot, and insights into car rentals as per geographic region. The global airport car rental industry is expected to reach an estimated $63. The global electric car rental market is set for an electrifying surge, projecting growth from $8. USA Car Rental Market is anticipated to increase at a high CAGR of 5% (2022 to 2032), reaching a value of about US$ 59. 1 National Renewable Energy Laboratory, Golden, CO, United States of America . The number of publicly accessible chargers was up by 37% in 2021, which is lower than the growth rate in 2020 (45%) and pre-pandemic roll out rates. 77%. 03% during the forecast period. To develop this. India's electric vehicle market size is expected to reach USD 152. And, in the UK and Europe, driving an EV means you can go into areas like central London without paying a congestion tax, and into areas where fossil fuel cars are now banned. UFODRIVE is an electric car rental company based at three European airports: Brussels, Luxembourg, and Hamburg. 9 billion in 2022. 5°C. Switzerland. Main reason not to buy an electric car in MalaysiaIn 2022, the car rental industry had a 9. The car rental market continues to evolve and grow, with Amadeus car rental data showing worldwide car bookings increased by 23% in Q1 2023 compared to the same time last year. Ryan Robinson’s Presentation. electric cars accounted for 79 percent of new passenger car registrations in 2022,. 22 Jun, 2021, 03:30 ET. With advancements in technology, increasing environmental consciousness, and supportive government policies, EVs have gained. Ariya electric. This approach of adopting new partnership models in the automotive sector will increase in 2022. New York, NY. 6bn in 2023. Off-Road Vehicles Market Size. The growth of the electric car rental market can be attributed to the rise in. 1% from 2021 to 2028. In 2022, nominal car rental sales reached USD80 billion, though in real terms, it was still below pre-pandemic levels. For example, sales of EVs grew by 15 per cent in 2019 compared to 2018, driven by the growth of BEVs in Europe (+93 per cent), China (+17 per cent) and ‘other’ regions (+22 per cent). 01 Million) for the expansion of electric and hybrid car rental services across Romania. Car Rental Industry Trends and Projections. Electric vehicles are gaining popularity and market share. Three trends that will disrupt auto insurance. Electric Vehicles. From 2018 through 2030, we anticipate annual growth of 2%. This represents a significant increase from the 3. In the context of transformation in the transportation industry and the push towards decarbonization, EV is a game changer. S. However, registrations of multi-purpose vehicles have experienced the most. Revenue in the Electric Vehicles market is projected to reach US$1,052. e. Report Overview. 6%, EV sales jump more than 36%. You can choose the Tesla Model S, a great option when it comes to electric cars. 28 billion in 2021 and is expected to reach USD 97. However, both figures. Ltd, Giant Manufacturing Co. technology-driven trends have the potential to fundamentally change the rela - tionship between the consumer and the automobile. By the 1990s, airport rentals ac-counted for 70% of the market. 4 million were light commercial vehicles (LCVs) and 3. 65 mn. docx. Stay flexible when you rent a car. We see remarkable growth in the EV sector in the UAE, as the country ranked among the top 10 sustainable nations in the world. The car rental market accounted for USD 92. That means participants need to conduct market segmentations at the city level. Electric Scooter Market Trends and Statistics. Due to the rising focus to decrease the emission of harmful. Norway (65%), The Netherlands (20%), and Sweden (19%) are the top markets in the battery electric car segment in the European Economic Area. 5% market. 2 percent of total car sales in 2011 to 4. 1 million U. 2% increase compared. Overall, commercial vehicle sales are growing slowly and will level out over the next ten years. 3% of new car sales in 2022. The average price of used EVs in July 2022 was $40,714, well above the newly proposed $25,000 used EV tax credit limit. US sales more than doubled relative to the first-quarter of 2020, albeit from a much lower base. Singapore Car Rental Market Trends. And 88% of respondents planned to export mainly EVs. Inadequate transport infrastructure limits the car sharing market expansion. 54 billion in 2018 and estimated to reach a value of $160. current trends, and reported performance. 2 million in 2021, up 1. 7%. 7 Billion by 2028, exhibiting a growth rate (CAGR) of 3. All industries around the world feel the impact of the coronavirus pandemic. Wide-Range of Electric Cars for Rent at OneClickDrive. 99% during the forecast period (2023-2028). As rent prices surge, a similar trend may take hold in 2022. The major drivers for this market are growing global tourism industry. The COVID-19 pandemic has had an adverse effect on the overall automotive industry and thereby electric vehicle industry as well. Highlights. In 2023, analysts expect new- and used-vehicle prices to diverge. 5 billion in 2023, at a CAGR of 8. Market trends and policy efforts in major car markets are supporting a bright outlook for EV sales. The car sharing market is booming due to the emergence of new trends, business models and technologies. These car manufacturers have collectively reported sales of around 22,500 units through 2021. 3. The approximately $260 billion US auto insurance market is on notice. 41% increase year-over-year. 7 billion by 2030, at a CAGR of 3. Nissan LEAF. Our report on the Global Electric Car Rental Market provides comprehensive insights into the current, past and future trends and developments which are shaping the. If you can’t find one nearby, we have a variety of other vehicles waiting for you. Equally sobering, EV sales declined by 25 percent during the first quarter of 2020. What is the growth rate of the Electric Car Rental market? The global market is projected to grow at a CAGR of 15. It focuses on five significant trends in the global luxury-automobile segment 1 Cars with a manufacturer’s suggested retail price (MSRP) of $80,000 or more. 30 billion in 2021 to USD 242. Market Research Future (MRFR) expects the Electric Car Rental Market to expand to a size of approximately USD 15 Billion by 2025-end. S. 1 min read. Nearly 918,500 plug-in electric light vehicles were sold in the U. 2 billion by 2028 and is expected to reach USD 51. 2 Million, with a CAGR of 15% by 2030 – Report by Market Research Future (MRFR) Electric Car Rental Market Services and. Get a quote. Lastly, the Asia Pacific region is also making its way to the segment. This derailed the sales of recreational vehicles in the market for a few months in the. Electric Car Rental Market was valued at USD 9. Due to this rise, the market will face a boom in CAGR by 8. Advertisement. The attractive incentives being offered by the Indian government on the production and purchase of electric vehicles to encourage the adoption of electric vehicles are. 48%. The global forklift market size was valued at USD 58. The key. The average age of light commercial vehicles in the EU is 11. Getty. The user can find the nearest parking space to pick up the car or park the car in the parking space closest to the destination. 50%. But price growth is continuing to slow down since hitting an annual peak of 16% in Feb. 40% in the forecast period of 2024-2032, reaching a value of USD 166. Rates obtained through the use of discounts, coupons, upgrade offers, pre-negotiated (e. 13 billion in 2021, and it is expected to reach USD 20. A Sixt electric rental car in Germany. This study examines the current state and future prospects of the global Electric Car Rental Market 2023 over the study period. Due to the COVID-19 pandemic, the global Electric Car Rental market size is estimated to be worth USD million in 2022 and is forecast to a readjusted size of USD million by 2028 with a CAGR of. S. 22 billion in. The total number of road motor vehicles registered in Canada increased to 26. 31 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15. The current asking rent is 12. The increasing disposable income of the working class is augmenting the market growth as this enables. Since 2021, rents have increased across inner-city and regional areas throughout all the states. E-bikes are considered a safe, convenient, and affordable alternative to public transportation. In 2022, the market is growing at a steady rate and with the. The rapid rate of urbanization and improving road connectivity in emerging economies have created a high demand for transportation. The Electric Vehicles market in in Germany is projected to grow by 14. Historic period. New York, June 21, 2021 (GLOBE NEWSWIRE) -- Electric Car Rental Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Electric Car Rental Market. The global E-bike market size was valued at USD 77. This is the most efficient lever to reduce carbon emissions. In FY23, total automobile exports from India stood at 47,61,487. The global COVID-19 pandemic has been unprecedented and staggering, with commercial vehicle. Advance Market Analytics published a new research publication on "Electric Car Rental Market Insights, to 2026" with 232 pages and enriched with self-explained Tables and charts in presentable format. 2% in terms of revenues during 2022-2028. 3 Colorado School of Mines, Golden, CO, United States of America . Rent growth is predicted to outpace home sales price growth in 2022, and in some markets, renting may become the less-affordable option. The China Electric Vehicles Market size is expected to grow from USD 260. E-Bike Companies. In 2021, fast charging increased slightly more than in 2020 (48% compared with 43%) and slow charging much slower (33%. 27bn in 2027. This top mobility trend aims to minimize human negligence and errors to create safer roads. The U. "The 500 is small, but if you don’t need space it could be your only car. The India two-wheeler market size reached 21. The Golf Cart Market size is estimated at USD 2. 2023. 34% in 2020 as compared to 2019. Looking forward, IMARC Group expects the market to reach US$ 95. 70% during the forecast period (2023-2028). 2023-2027. The global bike rental market was valued at $2. 58 billion in 2023, and is expected to reach USD 1. 20% during the forecast period (2023-2028). The number in this province is just over 2,200. Ready to charge into the future? The market for electric vehicles (EVs) has grown rapidly in recent years and is expected to continue to grow at a fast pace over the coming decade. We would like to show you a description here but the site won’t allow us. 62 billion in 2020 and is projected to grow from USD 1. 48 billion in 2023 to USD 1,579. India Electric Bike Rental Market Trends This section covers the major market trends shaping the Indian E-Bike Rental Market according to our research experts: Technological Advancements Driving Growth for E-Bikes E-Bikes are environmentally friendly, running majorly on Li-ion chargeable batteries. The eScooter market will worth nearly $41. 1 billion valuation mark just 18 months after it launched. 07 billion in 2033. Dr Martyn Davies, Deloitte’s Africa Auto Sector Leader, and a panel of industry experts discussed the recent trends identified by the Deloitte Global Automotive Consumer Study and how they will impact the SA marketplace. 55 billion in 2023 to USD 19. In 2022, the market is growing at a steady rate and with the. The share of electric cars in total sales has more than tripled in three years, from around 4% in 2020 to 14% in 2022. 41% of renters spend more than 35% of their income on rent. 95% lower than the average monthly mortgage payment. 65 mn during 2022-2027, accelerating at a CAGR of 12. 5%. Forecast period. EV sales remained strong even though the overall automotive market has not yet fully recovered from the pandemic: total car sales in 2021 were 25% lower than in 2019. The major drivers for this market are increasing in air travel. , but industry analysts anticipate the EV market share in the U. 1 ELECTRIC VEHICLES TO CAPTURE A SIGNIFICANT SHARE OF ICE VEHICLE RIDE SHARING TABLE 45. As for South America and Middle East & Africa , the construction equipment rental market is emerging. There are currently 2,442,270 electric vehicles registered in the United States. MRFR also estimates that the market expansion rate to be 15%. Consumers are driving the transition to electric cars in India. "Global Electric Car Rental market size 2023 was XX Million. People. That will be up from 7. The demand for hybrid. Conventional ICE vehicles will be steadily displaced by EVs. 36% by 2027, the rising. Premium Statistic Share of overseas travelers using rental cars - U. 1 Electric cars, which accounted for 2. Berlin, for example, runs on convenient car sharing, with multiple players and limited e-hailing opportunities because of taxi-related regulation. This sector's share of the national GDP increased from 2. By 2025 20% of all new cars sold globally will be electric, according to the latest forecast by the. S. 3. S. 4. The global electric car rental market is poised to grow by USD 7. 52 billion in the current year to USD 13. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2020. 9% throughout the projected period. The India electric vehicle market size was valued at USD 220. The UAE electric vehicle market would register growth during the forecast period on account of an increase in tourist footfall in the country which is going to expand the car rental business in the emirates, coupled with domestic. Prior to COVID-19, the car rental industry in Thailand was expanding steadily and profitably, and more individuals were hiring cars than in prior years. The Electric Vehicle Charging Station Market size is expected to grow from USD 26. The Car rental market accounted for USD 119. 65 billion by 2028, at a CAGR of 25. 15 billion in the current year and is expected to reach USD 2. 69 billion in 2022 to USD 131. The model was the world's third best-selling plug-in electric vehicle (EV) model in 2022, behind the. 08 billion. 2023 Polestar 2 A New Standard For Premium Electric Driving. The Future of Bike and Scooter Rental Market Economy Size Expected a Growth of $ 11,040 Million by 2028, According to Vantage Market Research (VMR) WASHINGTON, Dec. 91 billion in 2023 at an impressive Compound Annual Growth Rate. 4. S. Bags. 9% from 2023 to 2030. The Car Rentals market in in India is projected to grow by 1. 80bn in 2027. The North America Recreational Vehicle Market size is expected to grow from USD 18. 6 million units. 13, 2021 (GLOBE NEWSWIRE. There is a huge demand for EVs and the response is immense. 3 Global Electric Car. We analyze our active inventory in real-time to find trends in rent prices across the country. 3% in the 2021-2028 period. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. Market share of plug-in hybrid electric cars in Norway 2016-2022Top 10 Mobility Industry Trends in 2024. The Thailand Car Rental Market is valued at USD 811. EV drivers and those wishing to try an EV are. 9 billion in 2021 to US$6. Though the trend of car ownership has grown during the pandemic, it is expected to return to the pre-pandemic trend after 2021. The global commercial vehicle rental and leasing market size was valued at USD 77. 3% increase overall – with the total brand value growing from US$5. The research estimates global Electric Car Rental market revenues in 2021, considering the Electric Car Rental market prices, supply, demand, and trade analysis across regions. The Recreational Vehicle Market size is expected to grow from USD 30. 7% from 2021 to 2027. 2 Bn in 2022; It is estimated to grow at a CAGR of 4. 83 Billion by the end of 2032. At the moment, e-bikes — not cars — appear to be the world’s best-selling electric vehicle, or E. (That figure excludes sales in China, which was an early adopter of small. Plug-in hybrid and battery electric LCV stock in Norway 2012-2022. Alberta does not have any government incentives in place to encourage the move to EVs or plug-in hybrids (PHEVs). The automotive finance industry size was valued at USD 248. S. 4% from 2019 to 2020. New York, June 21, 2021 (GLOBE NEWSWIRE) -- Electric Car Rental Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “ Electric Car Rental Market. In parallel, the new energy vehicle market has also gained popularity. 4% since October 2022 and. 1% from 2021 to 2027. Over 2. 6% from 2022 to 2032. 5 Toyota Research Institute of North. A car rental market analysis conducted by Precedence Research. Electric Car Rental Market Scope. Car Rental Market Size was valued at USD 107. With the recent rise of environmental, social, and governance (ESG) initiatives, new pressures are being placed on auto makers to monitor and self-audit. 36 billion in 2021 and is forecast to register a CAGR of 7. 39 Billion in 2023 to USD 34. Trend 3: Open Data and Open-Source Collaboration Models Gain Momentum. 37% during the forecast period. Rental rates increased 31% over 10 years. 5. 3 million were either heavy-duty trucks (HDTs) or medium-duty trucks (MDTs). Forecast Period. 87 billion in 2023 and grow at a CAGR of 12. The McKinsey Center for Future Mobility (MCFM) works with stakeholders across the mobility ecosystem by providing independent and integrated evidence about possible future-mobility scenarios in many forms: autonomous driving, e-mobility, shared mobility, and more. airfare + hotel + car rental, hotel + car rental, airfare + car rental) does not qualify. Global Electric Car Rental Market 2023-2027 The analyst has been monitoring the electric car rental market and it is poised to grow by $11246. ATV and UTV Market Size, Share, Competitive Landscape and Trend Analysis Report by Vehicle Type (ATV, UTV), by Displacement (Less Than 400 CC, 400 CC To 800 CC, More Than 800 CC), by Power Output (Less Than 50kW, 50kW To 100 kW, Above 100 kW), by Fuel Type (Gasoline Powered, Diesel Powered, Electric Powered, Solar Powered), by. 66% The global electric car rental market is forecast to grow by $8. However, shift toward E mobility is may affect diesel engines in future. This explosive growth means electric cars’ share of the overall car market has risen from around 4% in 2020 to 14%. Electric Scooter market is expected to reach $41. Burgeoning global e-commerce sector and changes in warehouse management over the past few years have increased the demand for forklifts to handle heavy loads and maneuver through. 36% over the forecast period. The stringent regulations being drafted. Italy Car rental market was valued at USD 0. In 2019, 2. The Electric Car Rental market industry is projected to grow from USD 11. 62 billion in 2021, at CAGR of 6. 52% during the 2022-2029 forecast period. 7 million and is regionally diverse. 24 billion in 2021 to USD 137. 8% market growth compared to 2021. The revenue earned by the U. Of the 14. The future analysis of the car rental market suggests that with growth in international travel and changes in attitudes. 6 million new registrations in Europe* in 2022. We’re adding more EVs daily. 7 million units sold last year, 11. In the future, these macroeconomic and demographic trends could shift pockets of growth in passenger-vehicle market. Annual revenue from the business and leisure car rental (Self-drive) market in India is valued at INR 0. 1 Million by 2032, at a CAGR of 5. 64% between 2022 and 2027. As per newly released data by Future Market Insights (FMI), the United Kingdom car rental market is estimated at US$ 3,203. A rebounding tourism industry has been the key driver of the recovery, though high inflation and a strengthening US dollar has distorted. Insurance excess £2,500. People. 42 billion in 2021. 5 billion by 2033. The Global EV Outlook is an annual publication that identifies and discusses recent developments in electric mobility across the globe. S. 1% during 2023-2028. Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Electric Car Rental. Dealer proft margins have fallen considerably as a result. This EV Amendment amends the rental agreement signed by you with respect to the rental of a vehicle powered by an electric motor (an “EV”) from Avis Rent A Car System, LLC, Budget Rent A Car System, Inc. 21 billion in 2021 and is projected to register a compound annual growth rate (CAGR) of 5. 4 miles. 91% (2023-2027) resulting in a market volume of US$26. Our premium EVs are paired with friendly customer service, easy booking. Furthermore, you can easily find Tesla charging stations at petrol stations, parks, malls, and commercial building parking lots. The sector has momentum, however, and global sales of E2Ws and E3Ws are increasing by more than 14 percent annually. The car shopping experts at Edmunds forecast that 14. Electric Vehicle Trends for 2023. The global ride sharing market size was USD 76. The COVID-19 pandemic hindered the growth of the car rental market owing to travel restrictions and the shutdown of. California has the highest EV adoption rate (2. Global Electric Car Rental Market 2023-2027 The analyst has been monitoring the electric car rental market and it is poised to grow by $11246. The global electric bike market was valued at $40,312 million in 2019, and is projected to reach $118,657 million by 2030, registering a CAGR of 10. 50 billion in 2022 to $9. 04 billion in 2021 and expected to surpass a net valuation of USD 4. The Electric Car Rental Market research 2022-2028 offering the complete outlook of market size, share and growth opportunities, industry segmentation by product type, applications and geographical. Growth in the electric-vehicle market has slowed. "However, there remains an EV premium of 20% to 30% over renting a comparable gasoline model," he adds. The market is projected to grow from USD 43. Speak to Analyst. CPI rent inflation has picked up recently. market growth 2002-2016; Car sales worldwide by fuel technology 2019 & 2030; Number of registered electric and hybrid vehicles in Colombia 2011-2022; North Macedonia. 5 million, triple the amount in 2018. In the Global Electric Vehicle Rental Market, the Electric Vehicles are among the registered BEVs. As of 2020, total accumulated number of electric vehicle in Thailand is 186,271 units, in which passenger cars (HEV/PHEV) accounted for 93% of all EV in Thailand. 00%during the forecast period, 2023-2032. Page number. The private market will develop somewhat more strongly than. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least. Recent COVID-19 has disrupted the market growth. 94% from 2018 to 2025, to reach 7,593 thousand units by 2025. In June 2021, Tesla's Model 3 became the first electric car to pass one million global sales. 37%, but if you look at the trend line, it looks like that will be eclipsed in 2022. S. The thriving travel and tourism sector is bolstering the car rental market as more travellers and tourists. 4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8. Info is draw from numerous credible sources including Zumper, Harvard University, Freddie Mac, Apartmentlist, Attom Data,. Electric vehicles will grow from 0. While Japan was behind China in car output, the Japanese Toyota was the best-selling automotive brand worldwide in 2021, holding some 10. In some cases. 6 million new registrations in Europe* in 2022. 4% in the 2021-2028 period. Technology in the sector is moving in leaps and bounds, and, despite supply chain disruptions putting strain on. 9 Bn by the end of 2031; Analysts’ Viewpoint on Market Scenario. 8% from 2023 to 2030. Over the past month, the average rent for a studio apartment in Santa Clara increased by 9% to $1,845. 1 Mark Kane, “Norwegians. The Global Car care products market was valued at USD 6. The global market for Electric Car Rental in Airport is estimated to increase from USD million in 2023 to USD million by 2029, at a CAGR during the forecast period of 2023 through 2029. It seeks to provide an in-depth overview of the size, shape and scope of the shared mobility and automotive industries, examining the historic and future market trends. 50 percent bump — and less than the 0. Looking back to Brand Finance Automobiles 100 ranking, the brands featured registered a respectable 4. plug-in hybrids), roughly double the combined total of BMW, Volkswagen and Mercedes. Nissan LEAF | Electric Range: 240 / 363 km*. NEW YORK, Nov. 92 billion in 2022. While EV sales have been growing healthily for the past couple of years, that trend has accelerated this year. With increasing interest in alternative drivetrains, omnichannel sales, and new ownership models, companies need to move from conceptualizing to action—now. In 2018, the global electric car fleet exceeded 5. . Moreover,. While pioneers like Tesla jump-started awareness among Chinese car buyers, their segmentation has prevented them from addressing mainstream demand. 6% rise over April 2019 and a 0. 95 billion in 2021. Deals for large purchase orders to electrify fleets. United States. 21 billion in 2022 to USD 113. With lockdowns and travel restrictions, the demand for car rentals has declined. Light Commercial Vehicles (LCV) Market Analysis The Global Light Commercial Vehicles Market is projected to register a CAGR of 1. 58 billion by 2028, at a CAGR of 9% during the forecast period (2023-2028). Used-car prices are expected to drop as much as 20% in 2023 as inventory stabilizes. 2022, Autonom Service, a car rental company, invested Euro 15 million (USD 16. 4 billion in 2021 and is estimated to grow to about USD 132.