The COVID-19 pandemic has devastated economies worldwide, and the impact was felt by businesses across verticals and hit transportation services particularly hard. 1-year Avg. 5 trillion industrial-machinery sector over the next decade. In Q2 2022, EV sales accounted for 5. 04 billion by 2027, registering a CAGR of 10. 5%). The chart below shows that over 4 electric cars are sold for. 2 Bn in 2022; It is estimated to grow at a CAGR of 4. That trend is expected to continue this year, despite fears of recession. 2017-2021. 77%. The demand for hybrid. Historical Data Time Period. The Global Car Rental market is projected to grow at a CAGR of around 7% during the forecast period, i. Electric Car Rental Market to grow at a CAGR of 15% through 2032 | Electric Car. This study examines the current state and future prospects of the global Electric Car Rental Market 2023 over the study period. 83 Billion by the end of 2032. 8% market growth compared to 2021. But things changed in 2015, when China’s EV sales grew by 238% relative to 2014, propelling it to the top spot. Looking forward, IMARC Group expects the market to reach 86. The Car Rentals market worldwide is projected to grow by 2. The approximately $260 billion US auto insurance market is on notice. 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). As…Italy Car Rental Market Analysis. 6 billion by 2027 with a CAGR of 6. 83 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15. The global electric car rental market is poised to grow by USD 7. By 2025 20% of all new cars sold globally will be electric, according to the. Consumer sentiment suggests the transition to electric cars will gain momentum. 2 million in 2021, up 1. The global car rental industry is expected to reach an estimated $145. Minimum driver age: 30. 45 billion in 2021 and is projected to grow from USD 3. UFODRIVE is an electric car rental company based at three European airports: Brussels, Luxembourg, and Hamburg. By 2028, it’ll almost triple, exceeding $80B and enjoying a compound annual growth rate (CAGR) of 20%. Here’s what to keep in mind before you hit the road. 50 billion in 2022 to $9. 17 billion by 2028, at a CAGR of 17. Revenue is expected to show an annual growth rate (CAGR 2023-2028) of 13. The global golf cart market size was valued at $1. 5% from 2020 to 2030. Used electric vehicle prices soared over hybrid and non-hybrid/electric used car prices in May 2022 in the United States. Singapore Car Rental Market Trends. The Thailand Car Rental Market is valued at USD 811. 9 percent over the forecast period. By 2030 over one in four new passenger cars sold will be an electric vehicle. dollars, used EVs were around 71 percent. The China Electric Vehicles Market size is expected to grow from USD 260. 3. 56 billion by 2028, at a CAGR of 17. 5% from 2023 to 2032. The North American ATV and UTV Market size is expected to grow from USD 8. Singapore-based electric car rental company BlueSG announced that its cars are rented out about 100,000 times a month with 4,000. 2. The report offers an up-to-date analysis regarding the current market scenario, latest trends and. Alongside increased desire from consumers for car rental options, the industry faces a number of challenges as it undergoes huge transformation. The thriving travel and tourism sector is bolstering the car rental market as more travellers and tourists. Premium Statistic Share of overseas travelers using rental cars - U. In the first-quarter of 2021, global electric car sales rose by around 140% compared to the same period in 2020, driven by sales in China of around 500 000 vehicles and in Europe of around 450 000. Growth momentum. As per newly released data by Future Market Insights (FMI), the United Kingdom car rental market is estimated at US$ 3,203. 13 billion in 2021 and is projected to grow from USD 58. Sales of electric vehicles ( EVs) in the United States rose by two-thirds in 2022, comprising 5. This stands in contrast to Quebec. The global golf cart market size was USD 1. 22 billion by 2028, growing at a CAGR of 16. Market revenue of motor vehicles & trailers manufacturing in the Philippines from 2017 to 2021, with forecasts until 2025 (in billion U. 7 million units sold last year, 11. The electric vehicles’ sector has registered exponential growth during the last decade due to the depleting fossil fuel reserves and growing awareness about the effect of global warming. 40 billion in 2022 to $15. 8% in June, battery electric 15. 39 Billion in 2023 to USD 34. dollars). 5 billion in 2022. 48bn in 2027. 08 Billion. It is bigger than it looks and has enough. 35% of households live in rental properties. 1 billion valuation mark just 18 months after it launched. Detailed research and segmentation for the main products and markets. 6% rise over April 2019 and a 0. Lastly, the Asia Pacific region is also making its way to the segment. Electric Car Rental Market size is estimated to grow by USD 11,246. The major factors behind this exponential growth are the rising foreign direct investment (FDI), construction of manufacturing hubs, and. The Car rental market accounted for USD 119. A detailed market share and penetration of different types, processes, and geographies in the Electric Car Rental market from 2001 to 2028 is included. 6 billion by 2027 with a CAGR of 6. Electric Car Rental Market Trends, Growth Opportunities, and Forecast Scenarios to 2028 Lockdowns across the globe in 2020 and continuing restrictions in 2021 disrupted the. 7 billion by 2032 - Report by FMI. There are currently 2,442,270 electric vehicles registered in the United States. 5 Seats. 61 billion by 2032. e. Indonesia Car Rental Market - Growth, Trends, Covid-19 Impact, and Forecasts. 4% in the 2021-2028 period. Explore historical and projected data on electric vehicles sales, stock, charging infrastructure and oil displacement. Retail used-vehicle sales also decreased month over month in October, with one less selling day than September. The car rental market accounted for USD 92. Author affiliations. 2% increase compared. After a decade when most plug-in hybrid vehicles (PHEVs) available for sale were sedans and. Tesla has a 56. Golf Cart Market Analysis. 5% from 2023 to 2030. Truck sales have not taken off in the electric vehicle market like they have in the ICE (internal combustion engine) market. U. 9, 2021 /PRNewswire/ -- The electric car rental market is set to grow by USD 8. Electric Scooter market is expected to reach $41. this year, according to Atlas Public Policy. 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. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. 7% in Q2 of 2021). The Global Car care products market was valued at USD 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 agency expects that around 18 percent of all cars sold worldwide in 2023 will be electric — up from only 2. The market is projected to grow from USD 43. 26 billion in the current year and is expected to reach USD 72. Nearly 918,500 plug-in electric light vehicles were sold in the U. The global commercial vehicle rental and leasing market size was valued at USD 77. The first major crack in the trend of rising prices came in January when Tesla cut prices for the Model 3 and Model Y, the two best-selling electric cars, by thousands of dollars. 3 million were either heavy-duty trucks (HDTs) or medium-duty trucks (MDTs). The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for Electric Car Rental market growth. S. 4% in 2013 to 0. S. Consumer attitudes have evolved. A rebounding tourism industry has been the key driver of the recovery, though high inflation and a strengthening US dollar has distorted. Electric Car Rental Market Size was valued at USD 9. 4% increase over the market share in March. Looking back to Brand Finance Automobiles 100 ranking, the brands featured registered a respectable 4. Autonomous Driving. 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. 7 million and is regionally diverse. S. Forecast period. EV sales are expected to continue strongly through 2023. 36% by 2027, the rising. China’s NEV market has been historically supply and policy driven. Market share of electric vehicles in Norway 2009-2022. 36 billion in 2023 to USD 26. 38% (2023-2027) resulting in a market volume of US$3. 9 billion in 2021 to US$6. To understand key trends Download Free Sample . In FY23, total automobile exports from India stood at 47,61,487. 25 billion in 2024 at CAGR of 17. The number in this province is just over 2,200. 4 billion by 2027 with a CAGR of 6. 31 billion in 2022 to USD 94. Automatic. 69 billion in 2021 to USD 2. 66% The global electric car rental market is forecast to grow by $8. 4 billion by 2027 with a CAGR of 6. 69 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13. 31 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15. 4 Billion in 2021 and is expected to reach a value of USD 126. Equally sobering, EV sales declined by 25 percent during the first quarter of 2020. The Global Electric Car Rental Market is expected to grow at a CAGR of 9. The global COVID-19 pandemic has been unprecedented and staggering, with luxury car rental services experiencing. Today’s average used car price. But in 2019, the number of units sold increased only to 2. Aima Technology Group Co. 46 billion by 2030, exhibiting a CAGR of 6. The car rental market has recovered following its setback from the COVID-19 pandemic. 92 Billion in 2022 and is expected to. 22 Jun, 2021, 03:30 ET. 48 billion in 2023 to USD 1,579. 40 percent average yearly growth rate since February 2023 when prices began to climb after steady declines following last summer’s peak. Market share of plug-in hybrid electric cars in Norway 2016-2022Top 10 Mobility Industry Trends in 2024. Users pay for the rental of motor vehicles hourly, either in advance before using the vehicle, or through subscription. Alberta does not have any government incentives in place to encourage the move to EVs or plug-in hybrids (PHEVs). The global impact of COVID-19 has been unprecedented and staggering, with the market in the United States witnessing a negative demand. 84 billion in 2023 to USD 575. 9% of used EV sales in the past 90 days were under $25,000. The Global Car Rental Market is forecast to grow. The report also provides and outlook on key market trends and leading players. 7% of the global light-duty vehicle (LDV) fleet in 2020 to 31% in 2050, reaching 672 million EVs, predicts the US Energy Information Administration ( EIA ). . 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. The Car Rental industry is projected to grow USD 200. Whereas the Honda e or Mini. European Passenger Car Market Forecast. Explore market. Market Research Future (MRFR) expects the Electric Car Rental Market to expand to a size of approximately USD 15 Billion by 2025-end. The market is projected to grow from USD 12. " Electric Car Rental Industry Statistics. Car rental included as a part of a package rate (e. The average rent for a 1-bedroom apartment decreased by -2% to $2,790, and the average rent for a 2-bedroom apartment decreased by -4% to $3,350. com. 4 billion in 2021 and is estimated to grow to about USD 132. 18 trillion during 2021-2025, progressing at a CAGR of almost 12% during the forecast period. 15 billion in the current year and is expected to reach USD 2. Electric Vehicles. The Indonesia Car Rental Market size is estimated at USD 0. China is already the world's largest EV market at 1. That sort of trend has the potential to transform urban transit. 71 percent). This represents a significant increase from the 3. 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. Under the IEA Stated Policies Scenario (STEPS), the global outlook for the share of electric car sales based on existing policies and firm objectives has increased to 35% in 2030, up from less than 25% in the previous outlook. 7 per cent of the. The sector witnessed a steady decrease in. 40% in the forecast period of 2024-2032, reaching a value of USD 166. 14 bn during 2020-2024. Net Promotor Score℠ (NPS®) improved across all brands, with owners of larger fleets generally indicating greater loyalty than owners of fleets with. The Camping Equipment Market size is expected to grow from USD 18. 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. Since 2021, rents have increased across inner-city and regional areas throughout all the states. 12bn in 2027. The demand for USA car rental grows with reducing sales volume of self-owned cars and aids. Advertisement. The IEA estimates that global EV sales exceeded 3 million units in 2020. Compared to 2021, this is an increase of 8. Report Coverage. We analyze our active inventory in real-time to find trends in rent prices across the country. Dealer proft margins have fallen considerably as a result. Top 10 Automotive Industry Trends & Innovations in 2024. Maximum driver age: 75. 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. 73 billion in 2028 at a Compound Annual Growth Rate (CAGR) of 16. Number of plug-in hybrid and battery electric light commercial vehicles (LCV) registered in Norway from 2012 to 2022 (in 1,000s. The conventional US insurance market, currently dominated by internal-combustion-engine (ICE) vehicles, will likely stop growing by the middle of this decade. The increasing demand for fuel-efficient vehicles, coupled with growing concerns over Greenhouse Gas (GHG) and carbon emissions, is anticipated to drive. Get a quote. The current asking rent is 77. 8% during the forecast period. European Passenger Car Market Forecast. 43 billion in 2028 at a CAGR of 25. China was the second fastest-growing market among the world’s top 10 EV markets in 2022 in terms of sales. Looking forward, IMARC Group expects the market to reach US$ 95. 01 billion in 2020, and is projected to reach $823. V. Of the EU's four major markets, Italy has the oldest van fleet (13. The Middle East and Africa Automotive Electric Vehicle Market size is expected to grow from USD 2. 03 billion in 2020. Our report on the Global Electric Car Rental Market provides comprehensive insights into the current, past and future trends and developments which are shaping the. Atlanta, GA. Europe Vehicle Rental Market Trends. 65 mn during 2022-2027, accelerating at a CAGR of 12. Info is draw from numerous credible sources including Zumper, Harvard University, Freddie Mac, Apartmentlist, Attom Data,. Electric vehicle adoption increases worldwide. 4 Billion in 2021 and is projected to. The auto industry's transition to EVs is accelerating. This is compared to the average new EV price of $59,000 and the average used. The near-term outlook for EV sales is bright. 21 billion in 2027. New York, NY. Between 2020 and 2023, upwards of 130 million electric bicycles (using all battery technologies) are expected to be sold worldwide. 2 million electric cars 1 were sold, representing just 2. Stay flexible when you rent a car. 4 miles. People. The attractive incentives being offered by the Indian government on the production and purchase of electric vehicles to encourage the adoption of electric vehicles are. This brought the total number of electric cars on the world’s roads to about 16. 1% during the forecast period 2023 to 2032. Before Covid and the chip shortages, in 2019 hire-drive registrations were 18,352, equivalent to 15. 8 years), followed closely by Spain (13. 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. Electric Vehicles. 8 percent for plug-in hybrids. 2023 Chevrolet Bolt EV A Budget Boosting Bolt. 1 billion by 2032, growing at a CAGR of 6. Electric VehiclesRent an electric car online with Hertz and enjoy a greener way to drive, with our most expansive electric car rental fleet ever. Electric Vehicles2023 Will Be the Year of the Electric SUV. 8% CAGR. 4. New York, June 21, 2021 (GLOBE NEWSWIRE) -- Electric Car Rental Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Electric Car Rental Market. 1 million, light-duty vehicles accounted for 9 out of every. 4 mpg. 06% during the forecast period (2023-2028). current trends, and reported. It focuses on five significant trends in the global luxury-automobile segment 1 Cars with a manufacturer’s suggested retail price (MSRP) of $80,000 or more. That is just 5% of total car sales, but it shows we're already entering the steep part of the S. 2 billion by 2028 and is expected to reach USD 51. 4% from 2021 to 2030. The COVID-19 pandemic has had an adverse effect on the overall automotive industry and thereby electric vehicle industry as well. Over the past month, the average rent for a studio apartment in San Francisco decreased by -2% to $2,141. Report Coverage. Revenue in the Electric Vehicles market is projected to reach US$3. Used cars average $523 per month, up $110 over the same. The United States Vehicle Rental Market is projected to grow with a CAGR of 5. 4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8. With the outbreak of COVID-19 , many new habits emerged, including social isolation, cleanliness, sanitation, and working from home. In the future, these macroeconomic and demographic trends could shift pockets of growth in passenger-vehicle market. 4. China, with 4. On the one hand, some automotive OEMs develop car-sharing services in-house and leverage the opportunity to bring their own vehicles into the fleet at lower price points, which gives advantages in operating costs to. 2023 Hyundai Ioniq 6 A Smart, Sport And. 1% market share; New car registrations: +18. 5 billion by 2033. Among electric vehicles, sales of passenger cars are significantly higher than trucks. 9% throughout the projected period. This sector's share of the national GDP increased from 2. 65 mn. 9%. Commenting on the market dynamics, Senior Analyst Soumen Mandal said, “China’s EV market is the most vibrant. Speak to Analyst. PRESENTS AND FUTURE TRENDS FOR ELECTRIC VHICLES IN INDIA. 2022-2027. , Budgetcar, Inc. 2 Billion in 2022. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the car rental market and it is poised to grow by USD 103. Base year. Insurance excess £2,500. "However, there remains an EV premium of 20% to 30% over renting a comparable gasoline model," he adds. From a market valuation of US$ 153. states 2014;Projection for the used car market size worldwide between 2020 and 2027 (in trillion U. 3. Over 2. Market Size (2027) $134. 5% market. 9% from 2023 to 2030. Meanwhile Sixt offers. The research assessment of the Market is designed to analyze futuristic trends. The Boston Consulting Group (BCG), which analyses market trends, has identified that some luxury electric cars have already reached parity for TCO with similar traditional cars. The year 2026 has emerged as a tipping point for an acceleration in EV adoption that will drive automotive electrification trends ahead. The global electric vehicle market size was valued USD 384. Due to the COVID-19 pandemic, the global Electric Car Rental market size is estimated to be worth USD million in 2022 and is forecast to a readjusted size of USD million by 2028 with a CAGR of. The global automotive electronic control unit market size was valued at USD 53. These preferences align closely with our research on. 36% over the forecast period. 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. 2022. 3 million, from 2. India Bike and Scooty Rental Market Analysis. The global automotive market is diverse. Brand Finance's Top 100 Automobile Brands 2017 to 2022. Five years ago, automakers offered 36 new models in that price range. 47 billion in 2022. Deloitte’s 2023 Global Automotive Consumer Study dives into car buying trends that could impact the automotive industry and the future of electric mobility. Meanwhile, Uber and Lyft are themselves getting. S. The article pointed out that in California, the country’s biggest car market, millennials outpaced boomers for the first time as car buyers. 69 billion in 2022 to USD 131. In the UK, average net proft margins fell from c. 74% to reach USD 52. 46 billion by 2029, exhibiting a CAGR of 6. Subscribe to newsletters Subscribe. , but industry analysts anticipate the EV market share in the U. CPI rent inflation has picked up recently. A parade of cargo-friendly and affordable electric cars are coming next year, though it will still be tough to buy one. 2019 saw the car rental industry earn a record-setting $32 billion in revenue, only for this to drop to $23. The market was negatively. 5 trucks for every car sold 1. "Provide flexible dates and branch pick-up locations in your search, if possible," says Martini. 4 International Transport Forum in Paris, France . The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. The target market holds nearly a. New registrations for vans classified as light commercial vehicles were down roughly 12% from September 2020 to September 2021. It was followed by Germany. 9 Billion in 2022. 3 years). 71% during the forecast period. • Customers views about electric cars being sluggish to react and having a low top speed must be changed by offerings of OEMs, like TESLA did. 6 million units. It has a range of around 265 miles and can travel up to 155 mph. (That figure excludes sales in China, which was an early adopter of small. In 2022, the market is growing at a steady rate and with the. Construction equipment refers to heavy machinery that performs specific construction or demolition functions. California has the highest EV adoption rate (2. 20% during the forecast period (2023-2028). The Indian automotive industry is targeting to increase the export of vehicles by five times during 2016-26. 2 million units by 2025. 1% from 2021 to 2027. Global sales will miss pre-pandemic levels, with just 3% more new cars and 1% more commercial. 6% from 2021 to 2028. 92 billion in 2019 and is projected to reach $214. Car Rental rates from other car rental companies (including but not limited to Avis, National Enterprise, Alamo, Sixt, Dollar, Payless, etc) do not qualify. Electric Vehicles. The growth in the market can be attributed to the increasing preference of the population for safe, easy. 91% (2023-2027) resulting in a market volume of US$26. Growth will be helped along by the rising appeal of online used car retail. 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. The India electric vehicle market size was USD 1. In 2021, several tech companies created open-source vehicle architecture operating systems and open electric vehicle (EV) platform. 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. 1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 94. While EV sales have been growing healthily for the past couple of years, that trend has accelerated this year. USA Car Rental Companies. The Electric Car Rental Market study with 113+ market data Tables, Pie charts & Figures is now released by HTF MI. "Global Electric Car Rental market size 2023 was XX Million. 5% in May, battery electric 13. And 88% of respondents planned to export mainly EVs. The Indian two-wheeler rental market was valued at USD 38. 2022, Autonom Service, a car rental company, invested Euro 15 million (USD 16. In 2022, the. 15% during the forecast period (2023-2028). Recreational Vehicles (RVs) are portable units mounted on chassis and wheels. In a November report, J.