Worldwide Electric Car Rental Market 2023 Industry Challenges Business Overview And Forecast Research Study 2029

PRESS RELEASE
Published February 14, 2023

The latest study released on the Global Electric Car Rental Market evaluates market size, trend, and forecast to 2029. The Electric Car Rental market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors. The report is assembled to comprise qualitative and quantitative elements of Electric Car Rental industry including market share that admires each country concerned in the competitive marketplace.

According to industry estimates the Electric Car Rental market growth is projected to expand between 12.5% CAGR during the 2023 to 2029 assessment period.

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Key Players in This Report Include:

Enterprise, Hertz, Avis Budget, ALD Automotive, Arval, Sixt, Europcar, Localiza, Unidas, CAR Inc., Shouqi Zuche, Goldcar, Movida, Fox Rent A Car, Ehi Car Services, U-Save, Yestock Car Rental

Recent Development:

  • In August 2021, Avis Budget Group has launched new rental websites for its Avis and Budget brands. The refreshed websites will connect prospective clients to a growing network of independently operated Avis and Budget licensees located in over 90 emerging global markets.​
  • Enterprise Holdings Inc. – The company offers rental car services under the brand Enterprise Rent-A-Car (ECAR).
  • Europcar – The company offers electric car rentals, along with cables, a charge card, and an app.

The report endeavors to offer a 360-degree analysis of the global Electric Car Rental Market on the back of an insightful study of the prevailing demand and supply trends, important fiscal statistics of major players sustaining in the market, and the influence of latest economic advancements on the market. Developments in each geographical region is charted using authentic historical data with a view to help gauge the future trajectory of the market across the globe. SWOT analysis is conducted to identify the strengths, weaknesses, opportunities, and threats that these companies forecast to witness during the forecast period. In addition, it provides a comprehensive analysis of aspects involved in market development before and after the Covid-19 pandemic. Report also conducted a PESTEL analysis in the industry to study key influencers and barriers to entry.

The Global Electric Car Rental Market segments and Market Data Break Down are illuminated below:

Electric Car Rental Market Segments by Type:

Airport

Off-Airport

Electric Car Rental Market Segments by Application:

Business Leasing

Leisure Leasing

Market Drive:

The growing government regulations, incentives, and subsidies provided for EVs are notably driving the market growth. Increasing government standards, regulations, and standards in the autalignomotive industry aligns with the global focus on environmental sustainability. Global economies are constantly striving to reduce their carbon footprint worldwide.

As the automotive industry has contributed significantly to carbon dioxide emissions, automotive industry governing bodies and bodies have taken significant measures to combat this. Government regulators and councils are promoting the use of alternative energy vehicles, such as electric cars and ECVs, to reduce carbon emissions. Therefore, it acts as a marketing enabler.

Market Challenge:

The global power crisis hindering the growth of the EV market is the major challenge impeding the market growth. Due to the growth of the hybrid and electric vehicle market, the demand for power to drive vehicles is also increasing worldwide. Developing countries and underdeveloped countries, where electricity production only covers the average daily consumption, cannot afford a greater number of electric cars. For example, in Europe, 25% of vehicles are electric cars, which reduces the consumption of about 13 million barrels of oil per day. However, it consumes about 11 percent of the global electricity demand. Asia has a huge power crisis in countries like India and Japan. In 2021, Japan accounted for more than 50 percent of the global hybrid car market, exacerbating an already prevailing power crisis.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:

Firstly, this Electric Car Rental research report introduces the market by providing an overview that includes definitions, applications, product launches, developments, challenges, and regions. The market is forecasted to reveal strong development by driven consumption in various markets. An analysis of the current market designs and other basic characteristics is provided in this report.

The report also implements primary and secondary research techniques for gathering the most crucial pieces of professional information and applies a number of industry-best techniques upon the data for projecting the future state of the global Electric Car Rental market. Based on current market development, the report includes an analysis of how activities such as mergers shape the market’s future.

This report studies the global market, analyses and researches the Electric Car Rental} development status and forecast in North America (United States, Mexico & Canada), Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia), Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.), the Middle East & Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.),  South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.) and Latin America

Regional Insights:

North America is expected to witness considerable growth. This is attributed to the existence of several of the region’s largest vehicle rental companies, such as Avis Budget Group and Enterprise Rent-a-Car, which are expected to present attractive growth potential. The growing number of business and leisure visits across the region is also a key driver of regional growth. Furthermore, the region contains a variety of prominent tourist locations that attract a big number of people who demand vehicle rental services, hence driving the market growth.

Asia-Pacific region is expected to be the fastest-growing market owing to the presence of OEMs and changing consumer preference toward electric rental cars. Additionally, a few OEMs are using different strategies such as partnerships with car rental companies, which will positively impact the market growth during the forecast period. For instance

Objectives of the Report:

-To carefully analyze and forecast the size of the Electric Car Rental market by value and volume.

-To estimate the market shares of major segments of the Electric Car Rental

-To showcase the development of the Electric Car Rental market in different parts of the world.

-To analyze and study micro-markets in terms of their contributions to the Electric Car Rental market, their prospects, and individual growth trends.

-To offer precise and useful details about factors affecting the growth of the Electric Car Rental

-To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Electric Car Rental market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

Having our reviews and subscribing to our report will help you solve the subsequent issues:

– Uncertainty about the market future: Our research and insights help our customers predict the upcoming revenue pockets and growth areas.

– Understanding market sentiments: It is very important to have a fair understanding of market sentiment for your strategy. Our insights will help you see every single eye on Electric Car Rental market sentiment. We maintain this analysis by working with key opinion leaders on the value chain of each industry we track.

– Understanding the most reliable investment center: Our research evaluates investment centers in the market, taking into account future demand, profits, and returns. Clients can focus on the most prestigious investment centers through Electric Car Rental market research.

– Evaluating potential business partners: Our research and insights help our clients in identifying compatible business partners.

Table of content:

Chapter 1: Electric Car Rental Market Overview

Chapter 2: Global Economic Impact on Industry

Chapter 3: Global Market Competition by key players

Chapter 4: Global Production, Revenue (Value) by region

Chapter 5: Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6: Global Production, Revenue (Value), Price Trend by Type

Chapter 7: Global Market Analysis by Application

Chapter 8: Manufacturing Cost Analysis

Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10: Marketing Strategy Analysis, Distributors/Traders

Chapter 11: Market Effect Factors Analysis

Chapter 12: Global Electric Car Rental Market Forecast

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Can I modify the scope of the report and customize it to suit my requirements?

Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.

  • country-level analysis for the 5 countries of your choice.
  • competitive analysis of 5 key market players.
  • 40 analyst hours to cover any other data point.

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