3. Market Research Future (MRFR) expects the Electric Car Rental Market to expand to a size of approximately USD 15 Billion by 2025-end. Various factors, including the diversification of services, increasing urbanization, rising disposable income, ascending preference for on-demand transportation, and growth of tourism, have played a major role in the market growth. 38 billion in 2023, and is expected to reach USD 26. Rent growth is predicted to outpace home sales price growth in 2022, and in some markets, renting may become the less-affordable option. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. 32bn in 2027. Aima Technology Group Co. During the period 2017-2021, business rentals registered a CAGR of -9. UFODRIVE is an electric car rental company based at three. 50%. Connected cars provide a unique customer experience while simultaneously delivering cost and revenue benefits to mobility companies, including OEMs, suppliers, dealers, insurers, fleets, tech players, and beyond. 25 billion in 2024 at CAGR of 17. From 2018 through 2030, we anticipate annual growth of 2%. The car rental service market is estimated to expand at 7. • Customers views about electric cars being sluggish to react and having a low top speed must be changed by offerings of OEMs, like TESLA did. 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. 2 Electric Power Research Institute, Palo Alto, CA, United States of America . The thriving travel and tourism sector is bolstering the car rental market as more travellers and tourists. To develop this. The market is projected to grow from USD 82. The Car Rentals market in in Australia is projected to grow by -0. The demand for USA car rental grows with reducing sales volume of self-owned cars and aids. The COVID-19 pandemic affected the market studied due to its high dependency on Indonesian tourism. 6 Billion by 2028. Users pay for the rental of motor vehicles hourly, either in advance before using the vehicle, or through subscription. China was the second fastest-growing market among the world’s top 10 EV markets in 2022 in terms of sales. There is potential for growth across many areas, from the booming manufacturing and domestic markets in BRIC (Brazil, Russia, India and China) and other. With lockdowns and travel restrictions, the demand for car rentals has declined. The Car Rentals market in in the United Kingdom is projected to grow by 3. was the largest EV market followed by China, the Netherlands, Norway, and France. 6 billion over five years, registering a CAGR of 7. The global COVID-19 pandemic has been unprecedented and staggering, with commercial vehicle. A parade of cargo-friendly and affordable electric cars are coming next year, though it will still be tough to buy one. Car Rental Market Analysis. Global EV Data Explorer. In July of 2021, Realtor. IBISWorld reports on thousands of industries around the world. Luxury car sales accounted for 18. 70% while leisure rentals registered a CAGR of -9. Car Rental Market in Europe Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028). Base year. On Monday, Ford Motor reduced prices of its F-150 Lightning electric pickup truck by $6,000 to nearly $10,000, or as much as 17 percent on some versions. The average annual growth rate ranked almost 50% between 2015 and 2019. Pricing Details. 1% during 2023-2028. The global car rental market size is expected to be worth $144. The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032 The global electric car rental market is set for an electrifying surge, projecting growth from $8. The North America Recreational Vehicle Market size is expected to grow from USD 18. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. The Car rental market accounted for USD 119. 7 million and is regionally diverse. The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032. 50 percent bump — and less than the 0. 18 trillion during 2021-2025, progressing at a CAGR of almost 12% during the forecast period. 64% between 2022 and 2027. Over 2. 1 billion in 2022. or the independent Avis Rent A Car System, LLC or Budget Rent A Car System, Inc. 9% from 2022 to 2030. 59 billion by 2028. docx. With a starting. The global crowdfunding market is experiencing a robust surge, projected to elevate from $13. Lime, which also rents bikes, crossed the $1. Nissan LEAF | Electric Range: 240 / 363 km*. Alberta does not have any government incentives in place to encourage the move to EVs or plug-in hybrids (PHEVs). 03 billion in 2023. S. 8%. 10 billion in 2020. European Passenger Car Market Forecast. 4bn in 2028. In model year 2021, the average estimated real-world CO 2 emission rate for all new vehicles fell by 2 g/mi to 347 g/mi, the lowest ever measured. com ® found that first-time homebuying was more affordable than renting in almost half of the nation’s largest markets. Electric Car Rental Market is poised to grow at a CAGR of 14. Off-Road Vehicles Market Size. Used car sales will boom. The major drivers for this market are growing global tourism industry. 75 bn during 2020-2024, progressing at a CAGR of over 17% during the forecast. 38% (2023-2027) resulting in a market volume of US$3. Wide-Range of Electric Cars for Rent at OneClickDrive. The Indian electric car market sales volume is expected to reach 37,792 unit in 2022, and it is expected to reach 376,000 unit in 2030, with a growth rate of 33. 1 billion in 2021, and is projected to reach $11. The global airport car rental industry is expected to reach an estimated $63. S. This kicked off a price war in the segment that dragged down the value of new EVs from Ford and GM. Premium Statistic Share of overseas travelers using rental cars - U. 6%, EV sales jump more than 36%. 2. These car manufacturers have collectively reported sales of around 22,500 units through 2021. According to TransUnion, the average monthly payment for a new car rose to $736 in the first quarter of 2023, from $585 two years before. 9 billion in 2021 to US$6. The first major crack in the trend of rising prices came in January when Tesla cut prices for the Model 3 and Model Y, the two best-selling electric cars, by thousands of dollars. USA Car Rental Market is anticipated to increase at a high CAGR of 5% (2022 to 2032), reaching a value of about US$ 59. But price growth is continuing to slow down since hitting an annual peak of 16% in Feb. Due to this rise, the market will face a boom in CAGR by 8. Insurance excess £2,500. 41% of renters spend more than 35% of their income on rent. Truck sales have not taken off in the electric vehicle market like they have in the ICE (internal combustion engine) market. Other rental locations are on the way, and the company is exploring expanding into the US market. The Electric Car Rental Market will grow by USD 7. Tesla has a 56. The Indian automotive industry is targeting to increase the export of vehicles by five times during 2016-26. E-Bike Market Trends. The market for two-wheel EVs (E2Ws) and three-wheel EVs (E3Ws) was valued at around $97 billion, or 4 percent of global auto sales. Market 2023 Trends, Size, Share | Thermo Fisher, PerkinElmer, 3M. 7% in Q2 of 2021). Forecast period. 3% of new car sales in 2022. The car rental market continues to evolve and grow, with Amadeus car rental data showing worldwide car bookings increased by 23% in Q1 2023 compared to the same time last year. Read More. 2 Million, with a CAGR of 15% by 2030 – Report by Market Research Future (MRFR) Electric Car Rental Market Services and. From a market valuation of US$ 153. These preferences align closely with our research on. 2% from 2023 to 2031 and reach US$ 126. group, government, corporate, tour, insurance replacement rentals) or similar rates do not qualify. 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. As of 2023, electric vehicles still had a low market share in Germany, at around two percent for battery-powered electric vehicles and almost 1. The sector witnessed a steady decrease in. The Electric Car Rental Market will grow by USD 7. 50 billion in 2022 to $9. A Nissan Motor Co. The stringent regulations being drafted. Page number. 58 billion in 2022 and is expand to around USD 1,716. Electric Vehicles. ESG jumpstarts a movement. The. 7% from 2021 to 2027. Digital & Trend reports. 61 billion by 2028, growing at a CAGR of 33. The global bike rental market was valued at $2. The global Electric Car Rental market is highly competitive and consists of a limited number of providers who compete among each other. The worldwide demand for e-Bikes is growing rapidly as customers see e-Bikes as an eco-friendly solution for commutes, with rising fuel prices adding to support. Norway leads the world in electric vehicle (EV) adoption: EVs account for more than 20 percent of passenger vehicles in the country and more than 80 percent of new vehicles sold. The total number of road motor vehicles registered in Canada increased to 26. In 2030, construction equipment will come with guaranteed levels of uptime, and site managers will be able to remotely monitor the. 47 Million in 2021 and is expected to reach USD 1261. 24 billion in 2021 to USD 137. Highlights. The major factors behind this exponential growth are the rising foreign direct investment (FDI), construction of manufacturing hubs, and. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2020. Inside, the Ariya offers comfortable seating and a ton. Forecast Period. Detailed research and segmentation for the main products and markets. 5°C. Details. Global Vehicle Rental Market is valued at $84. Revenue of the passenger cars market in Vietnam from 2014 to 2027 (in billion U. This approach of adopting new partnership models in the automotive sector will increase in 2022. 2 billion by 2028 and is expected to reach USD 51. The global impact of COVID-19 has been unprecedented and staggering, with the market in the United States witnessing a negative demand. Rent Change. 9% throughout the projected period. 65 billion by 2028, at a CAGR of 25. A recent analysis finds that sales of cars priced at $25,000 or less have fallen by 78% in just five years. Stay flexible when you rent a car. The year 2026 has emerged as a tipping point for an acceleration in EV adoption that will drive automotive electrification trends ahead. 5% from 2020 to 2030. 5% in May, battery electric 13. Then, in the first half of 2020, COVID-19 slowed down the growth rate of EV. 41 billion in 2023 to US$ 2. It has the potential to become the world’s largest market for AVs. Explore market. 69 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13. 6% rise over April 2019 and a 0. Furthermore, you can easily find Tesla charging stations at petrol stations, parks, malls, and commercial building parking lots. It is developed with the support of the members of the Electric. This press release was orginally distributed by SBWire New Jersey, USA — (SBWIRE) — 05/10/2022 — Advance Market Analytics published a new research publication on "Electric Car Rental Market. Total Passenger Cars Motorcycle Bus & Truck Motor-tricycle 186,271 179,034 7,236 1 0 5,685 2,202 3,128 120 235 32,264 29,459 2,804 1 0 2,999 1,288 1,591 2 118 Accumulated. Ltd, Merida Industry Co. 9 billion in 2022. 14 bn during 2020-2024. Electric Car Rental Market Projected to Reach USD 28,903. Electric Scooter Market Trends and Statistics. Details. 65 billion by 2028, at a CAGR of 23. To counteract those troubling trends, the Chinese government has imposed policies to encourage the adoption of plug-in electric vehicles. 2023 Polestar 2 A New Standard For Premium Electric Driving. 6 per cent of new registrations. 13 billion in 2021 and is projected to grow from USD 58. EV Market’s Surge Toward $57 Trillion Sparks Global Flashpoints. 65 billion in 2022 and is projected to grow from USD 500. in 2022—a 51. The India electric vehicle market size was USD 1. Projected public charging revenue per electric vehicle in the United Kingdom between 2016 and 2027 (in Great British Pounds) UK. S. 50 billion in 2022 to $9. The rising levels of carbon emissions and other harmful gases stemming from transportation have triggered the necessity of adopting electric. 6 million units. 55 billion in 2028 at a CAGR of 6. 36% by 2027, the rising. 1Data from Edmunds shows the average price of a used car purchase in December at $29,533, down nearly $1,600 from the record high of $31,095 reached in April 2022. In 2021, several tech companies created open-source vehicle architecture operating systems and open electric vehicle (EV) platform. The major drivers for this market are increasing in air travel. To date, however, most players have overlooked opportunities to monetize data from these vehicles—a significant oversight,. According to SPER market research, ‘E-mobility Rental Market Size- By Vehicle Type, By category, By Booking Type, By Commuting Pattern, By End Use- Regional Outlook, Competitive Strategies and. Tesla has a 56. 64% during the forecast period. The global ride sharing market size was USD 76. $2,056. 5 million, triple the amount in 2018. dollars). 5% market share for EVs sold in the United States. Over the long term, the growing trend of adventure sports and recreational activities and an increase in demand for ATVs and UTVs in military. Millennials’ share of the new-car market jumped to. 7 million units sold last year, 11. OEMs have invested billions to deliver new electrified models, from R&D to factory redesign. According to FMI, the market is expected to expand at a CAGR of 3. The report shows that electric vehicles (EVs) currently make up only 3% of car sales worldwide. 85%, resulting in. 15% during the forecast period (2023-2028). The global car rental market size attained a value of approximately USD 104. 35% of households live in rental properties. 84 billion by the end of teh forecast period, growing at a CAGR of 5. dollars) Premium Statistic. 7 billion in 2023 and is expected to reach USD 194. With increasing interest in alternative drivetrains, omnichannel sales, and new ownership models, companies need to move from conceptualizing to action—now. This study examines the current state and future prospects of the global Electric Car Rental Market 2023 over the study period. 14 bn during 2020-2024, progressing at a CAGR of 11% during the forecast period. The India electric vehicle market size was valued at USD 220. airfare + hotel + car rental, hotel + car rental, airfare + car rental) does not qualify. . Electric Car Rental Industry compound annual growth rate (CAGR) will be XX% from 2023 till 2030. 1 What’s even more impressive is the sector’s potential growth. The global recreational vehicle market size was valued at USD 47. 11, 2023 -- According to Technavio, the global electric car rental market size is estimated to grow by USD 11,246. 5%. 0m in 2023. Urban e-bikes dominated the market by application type. states 2014;Projection for the used car market size worldwide between 2020 and 2027 (in trillion U. 1 Million by 2032, at a CAGR of 5. People. 15 billion in the current year and is expected to reach USD 2. The global car rental industry is expected to reach an estimated $145. 5 Bedroom $4,595 $919/bed. 120. The car industry will stay in low gear in 2024. 2023-2027. This stands in contrast to Quebec. By the 1990s, airport rentals ac-counted for 70% of the market. In the context of transformation in the transportation industry and the push towards decarbonization, EV is a game changer. licensee identified on. 1% during the forecast period (2022 - 2030). 5 million electric cars, has the largest fleet. 8 million new cars will be sold in 2023. Electric Vehicles. 21 billion in 2021 and is projected to register a compound annual growth rate (CAGR) of 5. 4. 2 Key Trends by Types. 82 million, growing at a CAGR of more than 7% during the forecast period (2022 – 2027). 22 billion by 2028, growing at a CAGR of 16. The Car rental market accounted for USD 119. India Bike and Scooty Rental Market Analysis. September 14, 2023 - As the transition to electric cars gains momentum in India, new consumer needs are emerging related to product. 31 billion in 2022 to USD 94. UFODRIVE is an electric car rental company based at three European airports: Brussels, Luxembourg, and Hamburg. That sort of trend has the potential to transform urban transit. Our premium EVs are paired with friendly customer service, easy booking. 5% of global car sales. The Global Electric Car Rental Market is expected to grow at a CAGR of 9. 1. 3. 3. Over the forecast period 2021-2026, the annual revenue. The global demand for Electric Car Rental Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the. S. Before Covid and the chip shortages, in 2019 hire-drive registrations were 18,352, equivalent to 15. 2023. In a November report, J. 22 billion in. Opportunities, 2018-2028 The Indonesia Tire Market was valued USD3. 94% during the forecast period (2023-2028). 70bn in 2027. 14 billion during 2020-2024. Nissan pioneered the affordable EV trend with the Leaf, and though that car is still relevant, the Ariya represents a step up. In the current European car market, however, OEMs are under pressure to cut costs and free up investment capital, and NSCs cannot continue to provide the same level of support as before. 4% in the 2021-2028 period. China’s NEV market has been historically supply and policy driven. 69 billion in 2022 to USD 131. 99% during the forecast period (2023-2028). Thus, this has derailed the sales of recreational vehicles in the market. Number of plug-in hybrid and battery electric light commercial vehicles (LCV) registered in Norway from 2012 to 2022 (in 1,000s. 42 billion in 2021. Today’s average used car price. While EV sales have been growing healthily for the past couple of years, that trend has accelerated this year. All industries around the world feel the impact of the coronavirus pandemic. Rental rates increased 31% over 10 years. Report Overview. 2 million in 2021, up 1. The market is projected to grow from USD 43. 1 Mark Kane, “Norwegians. The impact of the COVID-19 pandemic on the electric vehicle market is inescapable. 2022, Autonom Service, a car rental company, invested Euro 15 million (USD 16. 69 billion in 2021 to USD 2. 17 percent year-over-year increase. 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. 5 percent in 2019. The high use of UPS devices in healthcare, chemical, and oil & gas sectors for continuous power supply is expected to propel the growth of the battery market. India Luxury Car Industry Overview. While Japan was behind China in car output, the Japanese Toyota was the best-selling automotive brand worldwide in 2021, holding some 10. The Global EV Outlook is an annual publication that identifies and discusses recent developments in electric mobility across the globe. 1. Our reports on global electric car rental market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. 92 Billion in 2022 and is expected to. Electric Vehicle Market Analysis The Global Electric Vehicles Market is projected to register a CAGR of 3. The near-term outlook for EV sales is bright. People. Costing an average of 58,165 U. Browse our fleet. India's electric vehicle market size is expected to reach USD 152. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least. 4 billion by 2027 with a CAGR of 6. 01% during the forecast period. Market Size (2027) $134. 9%. In FY23, total automobile exports from India stood at 47,61,487. Bags. You can choose the Tesla Model S, a great option when it comes to electric cars. 76% (2023-2027) resulting in a market volume of US$3. The private market will develop somewhat more strongly than. 67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25. The Tourism Vehicle Rental Market was valued at USD 61. Drive an electric vehicle from a top brand, like the BMW i4, BMW iX Tesla Model Y Long Range and Tesla Model 3. 5 billion in 2022. 14 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4. The market is. Clean energy and improved. Largest Segment by Fuel Type - Gasoline: Diesel LCV has the vast majority of sales across all fuel types as it is traditional and is being used universally. P. 69 billion in 2022 to USD 131. In 2022, the. Nevertheless, China accounted for nearly 59% of the global EV sales volume. 2% during. Automotive. 83 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15. 10 billion by 2030, exhibiting a CAGR of 17. 49 billion in 2025 at a 31. current trends, and reported performance. By 2025 20% of all new cars sold globally will be electric, according to the latest forecast by the. D. The market is projected to grow from USD 12. The lease-based used-car market will likely reach about €390 billion in Europe, which would lead to a €12 billion opportunity if we include a 3 percent improvement in estimating residual values, that is, used-car prices. 13, 2021 (GLOBE NEWSWIRE. 1-year Avg. 4 billion by 2027 with a CAGR of 6. Three trends that will disrupt auto insurance. With the outbreak of COVID-19 , many new habits emerged, including social isolation, cleanliness, sanitation, and working from home. Get a great deal while driving the latest premium models with an electric car rental from SIXT. 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. 1 million, up 2 million from the previous year and almost doubling the number of new electric car sales. 71% during the forecast period. The model was the world's third best-selling plug-in electric vehicle (EV) model in 2022, behind the. 7 % during the forecast period. 4 million were light commercial vehicles (LCVs) and 3. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. 9bn in 2028.