26 billion in 2023 to USD 63. 40 percent average yearly growth rate since February 2023 when prices began to climb after steady declines following last summer’s peak. 1 mpg. 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. 4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8. The market is projected to grow from USD 82. 50 billion in 2022 to $9. The Electric Car Rental Market will grow by USD 7. The Car Rentals market in in India is projected to grow by 1. Switzerland. With the outbreak of COVID-19 , many new habits emerged, including social isolation, cleanliness, sanitation, and working from home. Electric car rental is a service that enables customers to rent an electric vehicle (EV) for. 2 million electric cars 1 were sold, representing just 2. Fastest-growing. The company presently sells the Tesla. Abstract. 3 million, after the boom of 2020. 6bn in 2023. 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 National Renewable Energy Laboratory, Golden, CO, United States of America . 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. The average age of light commercial vehicles in the EU is 11. 1 ELECTRIC VEHICLES TO CAPTURE A SIGNIFICANT SHARE OF ICE VEHICLE RIDE SHARING TABLE 45. dpa/picture alliance via Getty Images. 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. Subscribe to newsletters Subscribe. Electric Car Rental Market Projected to Reach USD 28,903. Accelerate at a CAGR of 11. The global COVID-19 pandemic has been unprecedented and staggering, with luxury car rental services experiencing. 36% over the forecast period. The Car rental market accounted for USD 119. Major car rental companies are now starting to rent electric cars. The target market holds nearly a. 9% over 2020. California has the highest EV adoption rate (2. The Global Electric Car Rental Market Size is expected to grow at a 15% CAGR and is estimated to be worth USD 34. 07 billion by 2027, projecting a CAGR of more. Book an intermediate electric rental car from Enterprise Rent-A-Car. This stands in contrast to Quebec. 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 analyst's Car Rental: Top Six Industry Trends report is designed specifically for stakeholders in the shared mobility and automotive industries. 41% increase year-over-year. 2 million in 2021, up 1. 42 billion in 2021. Furthermore, you can easily find Tesla charging stations at petrol stations, parks, malls, and commercial building parking lots. The global Electric Car Rental market is highly competitive and consists of a limited number of providers who compete among each other. 3 million electric cars were sold in the first quarter, about 25% more than in the same period last year. 07 billion in 2033. "The 500 is small, but if you don’t need space it could be your only car. By 2025 20% of all new cars sold globally will be electric, according to the latest forecast by the. India's electric vehicle market size is expected to reach USD 152. Rental rates increased 31% over 10 years. 5 Bedroom $4,595 $919/bed. 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. 04 billion in 2021 and expected to surpass a net valuation of USD 4. The impact of the COVID-19 pandemic on the electric vehicle market is inescapable. The global electric bike market was valued at $40,312 million in 2019, and is projected to reach $118,657 million by 2030, registering a CAGR of 10. 94% from 2018 to 2025, to reach 7,593 thousand units by 2025. 21 billion in 2021 and is projected to register a compound annual growth rate (CAGR) of 5. As per newly released data by Future Market Insights (FMI), the United Kingdom car rental market is estimated at US$ 3,203. Over the past month, the average rent for a studio apartment in San Francisco decreased by -2% to $2,141. 80bn in 2027. 65 million from 2023 to. UFODRIVE is an electric car rental company based at three European airports: Brussels, Luxembourg, and Hamburg. Nearly 10% of global car sales were electric in 2021, four times the market share in 2019. S. New car prices have been falling for most of 2023, with the average new car selling for $47,936 in October, Kelley Blue Book reported. Nissan LEAF | Electric Range: 240 / 363 km*. 1 billion in 2022. 43 billion in 2028 at a CAGR of 25. 2% increase compared. To date, however, most players have overlooked opportunities to monetize data from these vehicles—a significant oversight,. 5% market. 4 mpg. 5% during forecast period. 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 miles. 2020. With demand surging and the supply of cars still depressed, rental car companies hiked prices. Our latest report on the luxury-automobile market updates McKinsey’s extensive research on the sector. Market Research Future (MRFR) expects the Electric Car Rental Market to expand to a size of approximately USD 15 Billion by 2025-end. Electric vehicles are gaining popularity and market share. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. That’s because it’ll go far enough on a charge to make motorway trips tenable. Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Electric Car Rental. China could see EVs rise to 15. The global commercial vehicle rental and leasing market size was valued at USD 77. 38% (2023-2027) resulting in a market volume of US$3. DOWNLOAD PDF. 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 period of 2022-2028. The car rental market accounted for USD 92. 08 billion in 2023 to USD 18. Electric car rental. Over the long term, the growing trend of adventure sports and recreational activities and an increase in demand for ATVs and UTVs in military. In 2022, the. 9 Billion in 2022. 5 billion in 2023, at a CAGR of 8. The rapid rate of urbanization and improving road connectivity in emerging economies have created a high demand for transportation. plug-in hybrids), roughly double the combined total of BMW, Volkswagen and Mercedes. As…Italy Car Rental Market Analysis. USA Car Rental Market Trends. 1 Mark Kane, “Norwegians. Growth momentum. Europe Vehicle Rental Market Trends. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. Estimated Monthly Used-Vehicle SAAR and Volume 11/15/2023 According to Cox Automotive estimates based on vehicle registration data, total used-vehicle sales in October decreased 3. Car Rental Market Analysis. Car Rental Market in Europe Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028). Plug-in hybrid and battery electric LCV stock in Norway 2012-2022. 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. 83 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15. Premium Statistic Share of overseas travelers using rental cars - U. This was over two and a half times more. 37%, but if you look at the trend line, it looks like that will be eclipsed in 2022. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. The Singapore Car Rental Market is valued at USD 120. Number of plug-in hybrid and battery electric light commercial vehicles (LCV) registered in Norway from 2012 to 2022 (in 1,000s. Car rental is a service that offers a platform to rent a car for a short time at affordable rates. Electric Car Rental Market Scope. Podcast. USA Car Rental Market is anticipated to increase at a high CAGR of 5% (2022 to 2032), reaching a value of about US$ 59. Used car sales will boom. 2 Key Trends by Types. From 2018 through 2030, we anticipate annual growth of 2%. The Self-storage Market size is estimated at USD 58. 46 billion by 2029, exhibiting a CAGR of 6. 00%during the forecast period, 2023-2032. Users can use these rental services. We gained critical insights from our. 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. The trends transforming mobility’s future 63 Mapping the auto-motive software- and electronics landscape through 2030 79 Expanding electric vehicle adoption despite early growing pains 85 Making electric vehicles profitable 93 Micromobility’s 15,000-mile checkup 107 How sharing the road is likely to transform American mobility 115The Car Rentals market in in Canada is projected to grow by 1. 5 billion by 2033. 6% from 2022 to 2032. The eScooter market will worth nearly $41. 1 million, for year-on-year growth of just 9 percent. IBISWorld reports on thousands of industries around the world. Growth momentum & CAGR. 42 billion by 2027, registering a CAGR of 14. S. Leverage the abatement potential of transition technologies. 4% in 2013 to 0. 87 billion in 2023 and grow at a CAGR of 12. 2018-2023. It is developed with the support of the members of the Electric. [471 Pages Report] The global construction equipment market size is valued at USD 149. 6 times year-over-year. Lower emissions, not standards. To counteract those troubling trends, the Chinese government has imposed policies to encourage the adoption of plug-in electric vehicles. Pricing Details. A detailed market share and penetration of different types, processes, and geographies in the Electric Car Rental market from 2001 to 2028 is included. 15 billion in the current year and is expected to reach USD 2. The major factors behind this exponential growth are the rising foreign direct investment (FDI), construction of manufacturing hubs, and. Costing an average of 58,165 U. The global E-bike market size was valued at USD 77. In 2022, about 88 percent of all cars sold in Norway were electric cars, including battery-electric vehicles (BEV) and plug-in hybrid. 6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase. The Electric Car Rental market industry is projected to grow from USD 11. 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. United States. S. 0m in 2023. 7 per cent of the. The COVID-19 pandemic affected the market studied due to its high dependency on Indonesian tourism. Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations) Electric Car Rental Market is poised to grow at a CAGR of 14. The global recreational vehicle market size was valued at USD 47. 5 billion in 2022. Report Coverage. This approach of adopting new partnership models in the automotive sector will increase in 2022. 69 billion in 2021 to USD 2. That means participants need to conduct market segmentations at the city level. 2022. Here’s what to keep in mind before you hit the road. 1% increase over April 2019. These segments will continue to. 15% during the forecast period (2023-2028). Truck sales have not taken off in the electric vehicle market like they have in the ICE (internal combustion engine) market. A rebounding tourism industry has been the key driver of the recovery, though high inflation and a strengthening US dollar has distorted. Base Year. All cars are backed by our Complete Clean Pledge. 70 billion in 2023 to USD 7. 17 billion by 2028, at a CAGR of 17. Few things are as uniquely beautiful as a summer road trip, and many people start. EV sales are expected to continue strongly through 2023. 4 Million Units in 2023. 5% from 2022 to 2031. This is the most efficient lever to reduce carbon emissions. The Camping Equipment Market size is expected to grow from USD 18. 28 billion in 2021 and is expected to reach USD 97. Looking forward, IMARC Group expects the market to reach US$ 95. The People’s Republic of China remains the world’s largest electric car market, followed by Europe and the United States. 03% during the forecast period. Rent growth is predicted to outpace home sales price growth in 2022, and in some markets, renting may become the less-affordable option. Fleets of AVs expand the scope of last-mile deliveries, reduce downtime, and aim to make public transportation relatively safer. Singapore-based electric car rental company BlueSG announced that its cars are rented out about 100,000 times a month with 4,000. 8% during the forecast period. 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. 71% during the forecast period. Insurance excess £2,500. For car-sharing services to be effective, a strong and dependable transportation infrastructure is necessary, including access to parking spaces, electric vehicle charging stations, and well-maintained roadways. It has the potential to become the world’s largest market for AVs. V. The Global Electric Car Rental Market is expected to grow at a CAGR of 9. The Car Rental industry is projected to grow USD 200. 2023 Polestar 2 A New Standard For Premium Electric Driving. In 2021, more than that many are sold each week. 1. 2 million units by 2025. In the first-quarter of 2021, global electric car sales rose by around 140% compared to the same period in 2020, driven by sales in China of around 500 000 vehicles and in Europe of around 450 000. 14 billion during 2020-2024. Electric Vehicle Trends for 2023. 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. 18 trillion during 2021-2025, progressing at a CAGR of almost 12% during the forecast period. 4 billion by 2027 with a CAGR of 6. Hybrid Car Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028) The Report Covers Global Hybrid Vehicle Market Share & Growth and it is Segmented by Hybrid Type (Micro-hybrid, Mild-hybrid,. 89 billion in 2023 to USD 361. 4. 36% by 2027, the rising. The market is projected to grow from USD 39. that we believe will shape the market over the coming decade. Main reason not to buy an electric car in MalaysiaIn 2022, the car rental industry had a 9. In China, the majority of car sales are new, and the secondhand market is expected to grow even faster as the government implements favorable policy and the quality of car manufacturing increases. The Electric Vehicles market in in Germany is projected to grow by 14. The Electric Car Rental Market study with 113+ market data Tables, Pie charts & Figures is now released by HTF MI. 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. 9 percent over the forecast period. The market is expected to expand at a CAGR of 94. 2. Users pay for the rental of motor vehicles hourly, either in advance before using the vehicle, or through subscription. 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. S. 1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 94. Highlights. This sector's share of the national GDP increased from 2. 1 Electric cars, which accounted for 2. WASHINGTON, March 20, 2023 (GLOBE NEWSWIRE) -- Global Car Rental Market is valued at USD 98. The Indian automotive industry is targeting to increase the export of vehicles by five times during 2016-26. Aima Technology Group Co. 91 billion in 2023 at a compound annual growth rate (CAGR) of 16. 2023 Hyundai Ioniq 6 A Smart, Sport And. 65 mn. 1 Million by 2032, at a CAGR of 5. The research assessment of the Market is designed to analyze futuristic trends. 5. 7% from 2021 to 2027. 6 per cent of new registrations. Typical asking rents in the U. 17. 56bn in 2027. Chapter 4: Presenting the Electric Car Rental Market Factor Analysis, Porters. E-Bike Market Size. 79 billion in 2021 to $20. However, there are a lot of expensive used EVs on the market, which hikes the average price in California up to $34,480. Electric Car Rental Market was valued at USD 9. 85%, resulting in. Due to the COVID-19 pandemic, commuters are mostly avoiding public transportation. Advertisement. The growth of the electric car rental market can be attributed to the rise in demand for eco-friendly vehicles and the decrease in the cost of ownership. 3% of new car sales in 2022. The global electric car rental market size is expected to grow from $8. The vast majority of people are eyeing EVs for their next car purchase, with a clear preference for full battery electric vehicles (49 percent) over plug-in hybrid electric vehicles (21 percent) (Exhibit 1). Details. 65 billion by 2028, at a CAGR of 25. 2 million electric cars. 56 billion by 2028, at a CAGR of 17. The market is projected to grow from USD 28. The auto industry's transition to EVs is accelerating. 1% during the forecast period (2022 - 2030). Over the forecast period 2021-2026, the annual revenue. 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. The company is also offering discounted. 36 billion in 2021 and is forecast to register a CAGR of 7. The COVID-19 crisis tremendously affected the tourism industry across the world. The North American ATV and UTV Market size is expected to grow from USD 8. 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. A parade of cargo-friendly and affordable electric cars are coming next year, though it will still be tough to buy one. 6 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6. 72 billion by 2030, exhibiting a CAGR of 15. The private market will develop somewhat more strongly than. Website where you can paste and store any type of text or code snippets online and share it. 55 billion in 2023 to USD 19. The Car Rentals market in in Indonesia is projected to grow by 10. New York, NY. In 2022, the. Page number. The car sharing market is booming due to the emergence of new trends, business models and technologies. 1. 09% during the forecast period (2023-2028). 3 Global Electric Car. Meanwhile, Beijing, a mid-income, densely populated city, has a shared-mobility market of more than $700 million. Electric Scooter market is expected to reach $41. Currently, EVs make up only three to four percent of the new light duty market here in the U. In June 2021, Tesla's Model 3 became the first electric car to pass one million global sales. 38% of US adults would consider an EV for their next vehicle purchase. Bags. 5 million units in 2021, an increase of 1. 9 years. New car sales in the European Union rose 14. 10 billion by 2030, exhibiting a CAGR of 17. 48bn in 2027. China is already the world's largest EV market at 1. The market is. 0% in the 2021-2028 period. 2 Million, with a CAGR of 15% by 2030 – Report by Market Research Future (MRFR) Electric Car Rental Market Services and. This study examines the current state and future prospects of the global Electric Car Rental Market 2023 over the study period. the British car rental pioneer, was set up in 1920 and later acquired by Europcar. 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. 40% in the forecast period of 2024-2032, reaching a value of USD 166. Singapore Car Rental Market Trends. Market 2023 Trends, Size, Share | Thermo Fisher, PerkinElmer, 3M. in 2022—a 51. The booming tourism, rapid urbanization, increasing interest of people in adventure tourism, rapid. In this article, we will analyze the car sharing market in 2023 and how automation is playing a big role in a car sharing business. Italy Car rental market was valued at USD 0. This represents a significant increase from the 3. With a mountainous and rocky terrain in the region, Europe offers a wide. Skip Scooters is valued at $100 million. Probably the most important trend in the automotive industry is the worldwide shift to electric vehicles (EVs). 45% in 2020 compared to the average. 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. But price growth is continuing to slow down since hitting an annual peak of 16% in Feb. Car Rental Industry Trends and Projections. The demand for golf carts is fueled by several causes, including the rising popularity of golf and the increased urbanization that goes. The Motorhome Market size is expected to grow from USD 12. 1% higher than the nationwide median gross rent of 2020. Then came 2020. 9% of used EV sales in the past 90 days were under $25,000. In Europe, electric car sales continued to increase in 2021 by more than 65% year-on-year to 2. That is just 5% of total car sales, but it shows we're already entering the steep part of the S. The sector has momentum, however, and global sales of E2Ws and E3Ws are increasing by more than 14 percent annually. Forecast Period. Maximum driver age: 75. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the electric car rental market and it is poised to grow by USD 7. 35% of households live in rental properties. 50%. The COVID-19 pandemic had a negative impact on the market due to the global lockdown and social distancing norms, which halted the research and production. The global impact of COVID-19 has been unprecedented and staggering, with golf cars witnessing a negative demand shock across all regions amid the pandemic. There is a huge demand for EVs and the response is immense. 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. 2019 saw the car rental industry earn a record-setting $32 billion in revenue, only for this to drop to $23. 5 Toyota Research Institute of North. Sales of electric vehicles ( EVs) in the United States rose by two-thirds in 2022, comprising 5. Car-sharing businesses can find it difficult to offer customers a. com, a firm that analyzes the electric car market. E-Bike Market Trends. Digital & Trend reports. Alongside increased desire from consumers for car rental options, the industry faces a number of challenges as it undergoes huge transformation. The global electric scooters market size was estimated at USD 33. 66% The global electric car rental market is forecast to grow by $8. 2 percent of total car sales in 2011 to 4. The global golf cart market size was USD 1. 25 billion in 2024 at CAGR of 17. NEW YORK, Jan. The demand for hybrid. Overall, commercial vehicle sales are growing slowly and will level out over the next ten years. 62 billion in 2020 and is projected to grow from USD 1. Scooter rental refers to renting a scooter for a limited time. Manufacture of motor vehicles. All industries around the world feel the impact of the coronavirus pandemic. Market revenue of motor vehicles & trailers manufacturing in the Philippines from 2017 to 2021, with forecasts until 2025 (in billion U. The Indian two-wheeler rental market was valued at USD 38. Inadequate transport infrastructure limits the car sharing market expansion. Global Electric Car Rental Market 2023-2027 The analyst has been monitoring the electric car rental market and it is poised to grow by $11246. 4. 1B. 1% during the forecast period 2023 to 2032. BYD, China’s largest EV manufacturer, aims to double the number of its dealer partners in Europe to 200 this year, Li Yunfei, a BYD spokesman. In terms of automotive production by vehicle type, the Indonesian automotive industry has developed a preference for sturdy 4x2 vehicles. Consumer mobility behavior is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-purpose mobility solutionsMarket Overview. 22% during the forecast period, 2022-2027. The Thailand Car Rental Market is valued at USD 811. Automotive. Our reports on global electric car rental market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. 4 Billion in 2021 and is projected to. Auto Brand Value as % of Top 500 Brand's Value. 7 billion in 2023 and is expected to reach USD 194. current trends, and reported performance. PRESENTS AND FUTURE TRENDS FOR ELECTRIC VHICLES IN INDIA. 04 billion by 2027, registering a CAGR of 10. 4 billion in 2023, the market is likely to surpass US$ 307. S. The global electric car rental market is forecast to grow by $8. In Q2 2022, EV sales accounted for 5. By 2028, it’ll almost triple, exceeding $80B and enjoying a compound annual growth rate (CAGR) of 20%. 65 billion by 2028, at a CAGR of 23. In some cases. electric cars accounted for 79 percent of new passenger car registrations in 2022,. 1% from 2021 to 2027. The global car sharing market will reach $9 billion in valuation by 2026, growing at a CAGR of over. Real-world fuel economy remained at a record high 25. The. The global golf cart market size was valued at $1. Vehicle Features. 8% market growth compared to 2021. 2% during. The COVID-19. 45 billion in 2021 and is projected to grow from USD 3. . The global car rental market was worth around USD 87. The global automotive finance market size is projected to reach USD 385. Dealer proft margins have fallen considerably as a result.