LONDON--(BUSINESS WIRE)--The electric car rental market is expected to grow by USD 7.14 billion, progressing at a CAGR of over 11% during the forecast period.
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The rise in international tourism is one of the major factors propelling market growth. However, factors such as the global power crisis hindering the growth of the EV market will hamper the market growth.
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Electric Car Rental Market: Vehicle Category Landscape
Consumers are increasingly becoming environmentally conscious and are increasingly focusing on adopting green products. The shift in preference towards the adoption of electric economic vehicles for short rides will contribute to the growth of the electric car rental market in the economy car segment. Furthermore, the increase in the range and development of the charging infrastructure will also influence the growth of the electric car lease market in this segment. Market growth in this segment will be faster than the growth of the market in the luxury cars segment.
Electric Car Rental Market: Geographic Landscape
Europe had the largest electric car rental market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growth of the tourism industry and the increasing adoption of electric vehicles will significantly influence the electric car rental market growth in this region. 44% of the market’s growth will originate from Europe during the forecast period. Germany and Italy are the key markets for rental electric cars in Europe. Market growth in this region will be slower than the growth of the market in APAC and North America.
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Companies Covered:
- Avis Budget Group Inc.
- BlueIndy LLC
- Enterprise Holdings Inc.
- ER Travel Services Ltd.
- Europcar Mobility Group SA
- Fleetdrive Management Ltd.
- Green Motion International
- SIXT SE
- The Hertz Corp.
- Wattacars
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Vehicle Category
- Market segments
- Comparison by Vehicle Category placement
- Economy cars - Market size and forecast 2019-2024
- Luxury cars - Market size and forecast 2019-2024
- Market opportunity by Vehicle Category
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Avis Budget Group Inc.
- BlueIndy LLC
- Enterprise Holdings Inc.
- ER Travel Services Ltd.
- Europcar Mobility Group SA
- Fleetdrive Management Ltd.
- Green Motion International
- SIXT SE
- The Hertz Corp.
- Wattacars
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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