According to “Electric Car Rental Market 2019 Global Industry Analysis To 2025” research report published by Market Research Future, The Global Electric Car Rental Market to grow at 19% CAGR and reach USD 3 Billion during 2019 to 2025. Electric Car Rental Market is segmented by Vehicle Type (Battery, Hybrid and Plug-In Electric Car), Application (Economic Car, Executive Car, and others), Service (Online and Offline) and Region – Forecast till 2025.
Electric Car Rental Market Key Players Analyzed In Report:
Zipcar (US), Avis Budget Group, Inc. (the US), Enterprise Holdings Inc. (US), Europcar Mobility Group (France), The Hertz Corporation (US), Sixt SE (Germany), BlueIndy (US), DriveElectric (UK), Easirent (UK), Green Motion International (UK), Wattacars (Spain), Zoomcar (India), and Europcar Group (France).
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Electric Car Rental Market Synopsis:
The Global Electric Car Rental Market is expected to witness high growth over the forecast period due to the growing focus to reduce the emission of harmful substances and to noise pollution. An electric car makes the journey even safer and more comfortable due to the inbuilt advanced technology such as intelligent lane intervention, emergency braking system, Bluetooth handsfree, automatic and timing air condition system and the new e-Pedal technology.
The market is expected to be driven by the growth of the travel and tourism industry, growing awareness about the advantages of an electric car over conventional car, rising demand for electric car rental from enterprises, and the high growth potential for EV rental market from emerging economy.
Unorganized EV rental service sector, limited availability of power resources, and gasoline and CNG operated vehicles are expected to hinder the growth of the market. Developing electric car battery rental service centers in emerging market such as China and India, increasing use of the internet to customize travel trips, in-car infotainment system, and growing online rent-a-car services and booking engines are providing growth opportunities. Therefore, the global electric car rental market size is projected to reach around USD 15 Billion by 2025 and is estimated to witness 15% CAGR during the forecast period, 2019–2025.
Global Electric Car Rental Market Segmentation:
The global electric car rental market is segmented based on vehicle type, application, service, and region. Based on vehicle type, the global market has been segmented into battery, hybrid, plugin hybrid electric car. Based on application, the global market has been segmented into economic, executive, and others. Based on service, the global market has been segmented into online and offline.
Regional Analysis of Electric Car Rental Market:
The global electric car rental market by region has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Among the regions covered, Asia-Pacific accounted for the largest market for electric car rental, followed by Europe and North America. Major factors that have driven the electric car rental market in Asia-Pacific are an increase in sales of e-cars and large consumer base. Major growth is expected to be witnessed by the region due to the presence of countries such as India, China, the Philippines, and Vietnam where the car rental industry and tourism industry are growing rapidly.
Europe is expected to grow at a significant rate over the forecast period due to the presence of major automotive OEM’s such as BMW AG and Audi AG. Furthermore, stringent vehicle emission regulations announced by Germany, France, and the UK announced to phase out diesel engines by 2030 has led the demand for electric car across the region, which in turn drives the market growth. Countries such as Germany, France, and Spain are the major contributor to this market due to growing electric vehicle hire services.
North America is the third-largest market of market and is estimated to grow at a substantial rate during the forecast period due to the presence of electric car on rental service providers in the US and Canada. The US is expected to dominate the market in North America over the forecast period due to the rising migrants. Moreover, technological advancements and new mobility solutions such as hybrid vehicles and electric vehicles are expected to encourage companies to come up with new personalized mobility services to satisfy the changing needs and preferences of consumers across North America.
- Electric car manufacturers
- Vehicle rental service providers
- State and national regulatory authorities
- Government and industry associations
- State or government-owned corporations
- Research organizations
Table of Contents:
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Application
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Service
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
5. Global Electric Car Rental Market, By Vehicle Type
5.2. Battery Electric Car
5.2.1. Market Estimates & Forecast, 2019–2025
5.2.2. Market Estimates & Forecast, By Region, 2019–2025
5.3. Hybrid Electric Car
5.3.1. Market Estimates & Forecast, 2019–2025
5.3.2. Market Estimates & Forecast, By Region, 2019–2025
5.4. Plug-In Hybrid Electric Car
5.4.1. Market Estimates & Forecast, 2019–2025
5.4.2. Market Estimates & Forecast, By Region, 2019–2025
6. Global Electric Car Rental Market, By Application
6.2. Economic Car
6.2.1. Market Estimates & Forecast, 2019–2025
6.2.2. Market Estimates & Forecast, By Region, 2019–2025
6.3. Executive Car
6.3.1. Market Estimates & Forecast, 2019–2025
6.3.2. Market Estimates & Forecast, By Region, 2019–2025
6.4.1. Market Estimates & Forecast, 2019–2025
6.4.2. Market Estimates & Forecast, By Region, 2019–2025
7. Global Electric Car Rental Market, By Service
7.2.1. Market Estimates & Forecast, 2019–2025
7.2.2. Market Estimates & Forecast, By Region, 2019–2025
7.3.1. Market Estimates & Forecast, 2019–2025
7.3.2. Market Estimates & Forecast, By Region, 2019–2025
8. Global Electric Car Rental Market, By Region
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