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. Over the forecast period 2021-2026, the annual revenue. 6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase. Since Deloitte last presented a forecast for electric vehicle (EV) sales, in January 2019, the EV market has made great strides, and not just in terms of sales. The market is projected to grow from USD 82. The key to a better rental in 2023 is having a Plan B, C, and D. 8% in 2018. The market is expected to expand at a CAGR of 94. EV Market 2022-2030: The global electric vehicle market was valued at $163. 1. g. 65 billion in 2022 and is projected to grow from USD 500. 0m in 2023. 2 million electric cars. Digital & Trend reports. The India two-wheeler market size reached 21. In Europe, electric car sales continued to increase in 2021 by more than 65% year-on-year to 2. Users can use these rental services. 7%. 8%. 2 million plug-in electric vehicles (incl. Tesla has a 56. Electric Scooter market is expected to reach $41. 2021-2025. 2 Electric Power Research Institute, Palo Alto, CA, United States of America . The car industry will stay in low gear in 2024. 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). In terms of automotive production by vehicle type, the Indonesian automotive industry has developed a preference for sturdy 4x2 vehicles. Car-sharing businesses can find it difficult to offer customers a. Podcast. United States. Electric vehicles will grow from 0. Electric Car Rental Market to grow at a CAGR of 15% through 2032 | Electric Car. 4 International Transport Forum in Paris, France . The analyst's Car Rental: Top Six Industry Trends report is designed specifically for stakeholders in the shared mobility and automotive industries. 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. In 2022, the stock of fuel cell electric vehicles (FCEVs) increased 40% compared to 2021, reaching over 72 000 vehicles globally. The India electric vehicle market size was USD 1. China, with 4. The Golf Cart Market size is estimated at USD 2. Base year. The auto industry's transition to EVs is accelerating. Auto Brand Value as % of Top 500 Brand's Value. After a decade of rapid growth, in 2020 the global electric car stock hit the 10 million mark, a 43% increase over 2019, and representing a 1% stock share. 6 million units. While pioneers like Tesla jump-started awareness among Chinese car buyers, their segmentation has prevented them from addressing mainstream demand. 6%. Car rental is a service that offers a platform to rent a car for a short time at affordable rates. The model was the world's third best-selling plug-in electric vehicle (EV) model in 2022, behind the. E-Bike Market Size. , Aviscar, Inc. 4 Billion in 2021 and is projected to. The report analyzes the car rental market’s drivers, restraints/challenges, and the effect they have on the. 54 billion in 2022 to USD 65. 83 Billion by the end of 2032. Auto rental is the service of renting automobiles for a set period of time through online or offline channels. Electric car sales in the United States increased from a mere 0. The Global Electric Car Rental Market is expected to grow at a CAGR of 9. 1. In addition, automotive. 1 The used-car market should reach €955 billion by 2026, with about €390 billion for lease-based cars (40 percent). 3 billion by 2031, growing at a CAGR of 18. 1% from 2021 to 2027. 51% (2023-2027) resulting in a market volume of US$2. 17. 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. 5% during forecast period. Automotive. Global sales will miss pre-pandemic levels, with just 3% more new cars and 1% more commercial. The differences would be evident in the changes at construction sites. 5% during the forecast period. A Nissan Motor Co. Trend 3: Open Data and Open-Source Collaboration Models Gain Momentum. The Car Rentals market worldwide is projected to grow by 2. The global automotive market is diverse. The global electric vehicle (EV) charging infrastructure market size was valued at USD 19. The market is. S. 54 billion in 2018 and estimated to reach a value of $160. Forecast period. com. 5% from 2020 to 2030. These segments will continue to. 4 billion by 2027 with a CAGR of 6. Fleets of AVs expand the scope of last-mile deliveries, reduce downtime, and aim to make public transportation relatively safer. 08 Billion. 1 billion in 2022. The Electric Car Rental Market will grow by USD 7. 5%. 1% increase over April 2019. Many major vehicle manufacturers worldwide have signaled the end of an era. 02%, resulting in a. 44 billion by 2027 end, registering a solid CAGR growth of 13. 10 billion in 2020. The increasing disposable income of the working class is augmenting the market growth as this enables. Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)Germany car rental was valued at USD 2. At 24. Nearly 918,500 plug-in electric light vehicles were sold in the U. The market is projected to grow from USD 12. Real-world fuel economy remained at a record high 25. Report Overview. $3,300. 5 “2020 international automobile sales inventory: Sino-US new vs secondhand car transition ratio is 1:6,”Sohu, January 29,2021, sohu. About 80% of the FCEVs are cars, 10% trucks and almost 10% buses. 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. Electric vehicles: U. 3 years). The global crowdfunding market is experiencing a robust surge, projected to elevate from $13. The major factors behind this exponential growth are the rising foreign direct investment (FDI), construction of manufacturing hubs, and. 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). 34% in 2020 as compared to 2019. Nissan pioneered the affordable EV trend with the Leaf, and though that car is still relevant, the Ariya represents a step up. 50% (2023-2027) resulting in a market volume of US$0. The global automotive electronic control unit market size was valued at USD 53. Norway (65%), The Netherlands (20%), and Sweden (19%) are the top markets in the battery electric car segment in the European Economic Area. In FY23, total automobile exports from India stood at 47,61,487. S. airfare + hotel + car rental, hotel + car rental, airfare + car rental) does not qualify. Nevertheless, China accounted for nearly 59% of the global EV sales volume. The. Digital & Trend reports. 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. Electric Car Rental Market is poised to grow at a CAGR of 14. 64% during the forecast period. Lower emissions, not standards. Whereas the Honda e or Mini. 9% over 2020. In 2021, several tech companies created open-source vehicle architecture operating systems and open electric vehicle (EV) platform. It can offer a maximum range of 99. Rent growth is predicted to outpace home sales price growth in 2022, and in some markets, renting may become the less-affordable option. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2020. Off-Road Vehicles Market size surpassed USD 20 billion in 2022 and is slated to grow at over 8% CAGR from 2023 to 2032, driven by the increasing development of electric off-road vehicles in Europe. Japan was on top with a 119% YoY growth. 59 billion by 2028. Get a great deal while driving the latest premium models with an electric car rental from SIXT. The global recreational vehicle market size was valued at USD 47. Bags. 71% during the forecast period. The rapid expansion of COVID-19 has disrupted car rental growth across the country. Technology in the sector is moving in leaps and bounds, and, despite supply chain disruptions putting strain on. 4% increase over the market share in March. 41% increase year-over-year. With the outbreak of COVID-19 , many new habits emerged, including social isolation, cleanliness, sanitation, and working from home. In the US, electric car sales will increase to 585,375 in 2021, up from 345,285 in 2020. 32 billion in 2023 to USD 119. 85%, resulting in. The automotive industry serves as a barometer for the health of the manufacturing sector, in large part due to its reliance on complex global supply chains. Browse our fleet. 1. 6 million new registrations in Europe* in 2022. Growth momentum. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. Malaysia Electric Two-Wheeler Market Outlook to 2026: Driven by increase in awareness about alternative fuel, advancements in battery technology, and growing demand of two-wheelers in B2B Services. [355 Pages Report] The global electric vehicle market size is valued at USD 388. . China’s NEV market has been historically supply and policy driven. 9 billion by 2030 at a CAGR of 13. The global electric car rental market size is expected to grow from $8. 34% (2023-2027) resulting in a market volume of US$2. Of the 14. The Car Rentals market in in Germany is projected to grow by 1. 67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25. 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. Construction equipment refers to heavy machinery that performs specific construction or demolition functions. 17 million and INR 1. "However, there remains an EV premium of 20% to 30% over renting a comparable gasoline model," he adds. The size of the market is forecast to increase by USD 11,246. 92 billion in 2022. The global impact of COVID-19 has been unprecedented and staggering, with ride sharing witnessing a negative demand shock. Other rental locations are on the way, and the company is exploring expanding into the US market. 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. For further assistance, please connect with our analysts. North America accounted for the highest share in the global car rental market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the. 99% during the forecast period (2023-2028). 7 billion by 2030, at a CAGR of 3. 62 billion in 2020 and is projected to grow from USD 1. 1-year Avg. That will be up from 7. 65 billion by 2028, at a CAGR of 25. There is a huge demand for EVs and the response is immense. 17 percent year-over-year increase. The People’s Republic of China remains the world’s largest electric car market, followed by Europe and the United States. That is just 5% of total car sales, but it shows we're already entering the steep part of the S. 55 billion in 2028 at a CAGR of 6. A slight increase in vehicle production in the first half of the year and stronger growth in the second half will lead to around 12. The IEA estimates that global EV sales exceeded 3 million units in 2020. 76 million in 2021 and is expected to reach USD 63. The growth of the electric car rental market can be attributed to the rise in. 27%. 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. (That figure excludes sales in China, which was an early adopter of small. 5 trucks for every car sold 1. 82 million, growing at a CAGR of more than 7% during the forecast period (2022 – 2027). COVID-19 affected the camping equipment market drastically, and the demand for camping equipment declined due to specific rules and regulations imposed by. 84 billion in 2023 to USD 575. 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. Global Vehicle Rental Market is valued at $84. Compared to 2021, this is an increase of 8. 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. 5%). " Electric Car Rental Industry Statistics. The report also offers the market dynamics, latest trends, size, share and industry overview. 18 trillion between 2020 and 2025, accelerating at a CAGR of almost 12%, according to Technavio's. 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. U. 1 million, light-duty vehicles accounted for 9 out of every. Electric Car Rental Market Projected to Reach USD 28,903. Rent Change. 1 million, up 2 million from the previous year and almost doubling the number of new electric car sales. In June 2021, Tesla's Model 3 became the first electric car to pass one million global sales. Plus, messaging and tenant screening are integrated into our listing platform to help you find and screen applicants faster. 99% (2023-2027) resulting in a market volume of US$111. Electric Car Rental Market was valued at USD 9. 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. New registrations for vans classified as light commercial vehicles were down roughly 12% from September 2020 to September 2021. 7 Billion by 2028, exhibiting a growth rate (CAGR) of 3. A bike rental or bike hire service is a transport service that offers convectional bikes or electric bikes for rent for an individual on a short-term basis for a price or free. 6 billion by 2027 with a CAGR of 6. 6 Billion by 2028. 6bn in 2023. The global COVID-19 pandemic has been unprecedented and staggering, with commercial vehicle. 12bn in 2027. This explosive growth means electric cars’ share of the overall car market has risen from around 4% in 2020 to 14%. 21 billion in 2022 to USD 113. 5 percent in 2019. Italy Car rental market was valued at USD 0. 03 billion in 2020. 15 billion by the end of the forecast period, registering a CAGR of 4. The market is driven by. As of 2022, the luxury car rental market stood at $29. Wide-Range of Electric Cars for Rent at OneClickDrive. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. "Provide flexible dates and branch pick-up locations in your search, if possible," says Martini. 14 bn during 2020-2024. 13 billion in 2021, and it is expected to reach USD 20. 1% during the forecast period 2023 to 2032. 2 percent market share in 2021. The global car rental market was worth around USD 87. Over 2. While the agreements of most. docx. We’re adding more EVs daily. 9, 2021 /PRNewswire/ -- The electric car rental market is set to grow by USD 8. E-bikes enable users to cycle further and more often. . Ltd, Yadea Group Holdings Ltd, Yamaha. The global electric car rental market is poised to grow by USD 7. "Global Electric Car Rental market size 2023 was XX Million. The global impact of COVID-19 has been unprecedented and staggering, with the market in the United States witnessing a negative demand. 4% since October 2022 and. A detailed market share and penetration of different types, processes, and geographies in the Electric Car Rental market from 2001 to 2028 is included. 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. 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. 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. Website where you can paste and store any type of text or code snippets online and share it. We would like to show you a description here but the site won’t allow us. The target market holds nearly a. 5 million units in 2021, an increase of 1. The Car rental market accounted for USD 119. The share of electric cars in total sales has more than tripled in three years, from around 4% in 2020 to 14% in 2022. This year, that. Reserve today. The car industry will stay in low gear in 2024. 14 billion during 2020-2024. The global automotive finance market size is projected to reach USD 385. 1 min read. 22 Jun, 2021, 03:30 ET. 2. dollars, used EVs were around 71 percent. Book a Sporty Car. Singapore-based electric car rental company BlueSG announced that its cars are rented out about 100,000 times a month with 4,000. The Car Rentals market in in the United States is projected to grow by 1. The global electric car rental market is forecast to grow by $8. The Electric Vehicle Powertrain Market size is expected to grow from USD 159. 74% to reach USD 52. These preferences align closely with our research on. Revenue in the Electric Vehicles market is projected to reach US$1,052. By 2028, it’ll almost triple, exceeding $80B and enjoying a compound annual growth rate (CAGR) of 20%. With advancements in technology, increasing environmental consciousness, and supportive government policies, EVs have gained. 56 billion by 2028, at a CAGR of 17. According to the China Automobile Dealers Association, the country's luxury car dealers sold 277,000 vehicles in April 2020, an 11. Jan 11, 2023Electric Car Rental Market Projected to Reach USD 28,903. Costing an average of 58,165 U. 9 percent over the forecast period. Lime, which also rents bikes, crossed the $1. Few things are as uniquely beautiful as a summer road trip, and many people start. Consumer attitudes have evolved. 9 billion in 2022. 38% of US adults would consider an EV for their next vehicle purchase. Book an intermediate electric rental car from Enterprise Rent-A-Car. ESG jumpstarts a movement. D. The growth in the market can be attributed to the increasing preference of the population for safe, easy. The thriving travel and tourism sector is bolstering the car rental market as more travellers and tourists. European Passenger Car Market Forecast. 3 million, from 2. 2023 Tesla Model 3 The Reign Continues. According to Technavio, the global electric car rental market size is estimated to grow by. 4 million were light commercial vehicles (LCVs) and 3. Sales of electric cars topped 2. Compared to 2021, this is an increase of 8. 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. 9 Billion in 2022. Commenting on the market dynamics, Senior Analyst Soumen Mandal said, “China’s EV market is the most vibrant. 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. 08 billion. The India electric vehicle market size was valued at USD 220. S. But price growth is continuing to slow down since hitting an annual peak of 16% in Feb. Follow. The US electric vehicle market was valued at $49. 2 million electric cars 1 were sold, representing just 2. The revenue in the 'Car Rentals' segment of the shared mobility market in Germany was forecast to continuously increase between 2023 and 2027 by in total 192. 1 mpg. 9% over 2020. Norway leads the world in electric vehicle (EV) adoption: EVs account for more than 20 percent of passenger vehicles in the country and more than 80 percent of new vehicles sold. Chapter 4: Presenting the Electric Car Rental Market Factor Analysis, Porters. Market trend: electric vehicles Market share of electric vehicle sales in Vietnam 0. 4. 22 billion in. Ltd, Merida Industry Co. The Indian automotive industry is targeting to increase the export of vehicles by five times during 2016-26. 2% in terms of revenues during 2022-2028. The Electric Car Rental Market will grow by USD 7. 2% from 2023 to 2031 and reach US$ 126. However, there are a lot of expensive used EVs on the market, which hikes the average price in California up to $34,480. Global Electric Car Rental Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics. 36% by 2027, the rising. 1 million globally in 2019, surpassing 2018 – already a record year – to boost the stock to 7. Opinion piece provided by Sammie Eastwood, Guest Editor. The global golf cart market size was USD 1. The global EV charging stations market will grow from $6. The global market for Electric Car Rental in Airport is estimated to increase from USD million in 2023 to USD million by 2029, at a CAGR during the forecast period of 2023 through 2029. In the UK, average net proft margins fell from c. And, in the UK and Europe, driving an EV means you can go into areas like central London without paying a congestion tax, and into areas where fossil fuel cars are now banned. As per newly released data by Future Market Insights (FMI), the United Kingdom car rental market is estimated at US$ 3,203. The Singapore Car Rental Market is valued at USD 120. 5°C. 47 Million in 2021 and is expected to reach USD 1261. 56bn in 2027. S. Boston’s current average rent price is $2,632, which marks a 1. The Indian electric car market sales volume is expected to reach 37,792 unit in 2022, and it is expected to reach 376,000 unit in 2030, with a growth rate of 33. In July of 2021, Realtor. In 2021, the global car rental market was estimated to be worth roughly US$ 102. This approach of adopting new partnership models in the automotive sector will increase in 2022. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least. Revenue in the Electric Vehicles market is projected to reach US$3. 2022. Get a quote. China is already the world's largest EV market at 1. Car rental companies now offer Polestar, Nissan, and Kia EVs for this spring. Overall, new car prices are down 1. 50 billion in 2022 to $9. As rent prices surge, a similar trend may take hold in 2022. 50 percent bump — and less than the 0. Forecast Period. The Electric Vehicle Charging Station Market size is expected to grow from USD 26. The COVID-19 pandemic hindered the growth of the Tourism Rental Market as there were global factory shutdowns, travel bans, and border. The booming tourism, rapid urbanization, increasing interest of people in adventure tourism, rapid. The Tourism Vehicle Rental Market was valued at USD 61. However, both figures. Historical Data Time Period. 3. The ”Electric Car Rental Market” report provides a comprehensive analysis of growth opportunities in various segments and sub-segments. The global commercial vehicle rental and leasing market size was valued at USD 77. India Luxury Car Industry Overview. BY REGION, 2018–2020 (USD MILLION) TABLE 25 CAR RENTAL MARKET SIZE, BY REGION,. Truck sales have not taken off in the electric vehicle market like they have in the ICE (internal combustion engine) market. As for South America and Middle East & Africa , the construction equipment rental market is emerging. Autonomous Driving. Electric Car Rental Market Size was valued at USD 9. In 2022, about 88 percent of all cars sold in Norway were electric cars, including battery-electric vehicles (BEV) and plug-in hybrid. S. The private market will develop somewhat more strongly than. Scooter rental refers to renting a scooter for a limited time. March 20, 2023 13:18 ET | Source: Vantage Market Research. 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.