Dublin, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The "Electric Car Rental - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Electric Car Rental was estimated at US$15.9 Billion in 2023 and is projected to reach US$43.2 Billion by 2030, growing at a CAGR of 15.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the electric car rental market is driven by several factors. The increasing demand for sustainable and eco-friendly transportation options, driven by environmental awareness and government incentives, is a major driver of market growth. Technological advancements in digital platforms, charging infrastructure, and smart navigation systems are also contributing to market growth by enhancing the convenience and accessibility of electric car rentals.
The rise of urban mobility solutions and the growing popularity of car-sharing and short-term rentals are further supporting the adoption of electric vehicles in rental fleets. Additionally, the increasing availability of electric vehicles, driven by the expansion of EV models from major automakers, is creating new opportunities for growth in the electric car rental market. These factors, combined with the ongoing shift towards sustainable transportation, are driving the expansion of the electric car rental market.
Why Is the Electric Car Rental Market Gaining Traction?
The electric car rental market is gaining traction as more consumers and businesses seek sustainable and eco-friendly transportation options. Electric vehicles (EVs) offer several advantages over traditional gasoline-powered cars, including lower emissions, reduced fuel costs, and quieter operation.
The growing availability of electric cars in rental fleets is providing customers with the opportunity to experience the benefits of EVs without the commitment of purchasing one. As environmental awareness increases and governments introduce incentives for electric vehicle adoption, the demand for electric car rentals is rising, making this market an increasingly important segment of the broader car rental industry.
How Are Technological Advancements Enhancing the Electric Car Rental Experience?
Technological advancements are enhancing the electric car rental experience by improving the convenience, accessibility, and efficiency of renting and driving electric vehicles. Innovations in mobile apps and digital platforms are streamlining the booking and management of electric car rentals, allowing customers to easily locate, reserve, and access vehicles through their smartphones. Advances in charging infrastructure, including the expansion of fast-charging networks, are making it more convenient for renters to charge their electric vehicles during their trips.
Additionally, the integration of telematics and smart navigation systems is providing renters with real-time information on charging stations, battery levels, and optimal routes, ensuring a seamless and enjoyable driving experience. These technological advancements are driving the adoption of electric car rentals, supporting the growth of the market.
What Market Trends Are Driving the Demand for Electric Car Rentals?
Several key market trends are driving the demand for electric car rentals, including the growing focus on sustainability, the rise of urban mobility solutions, and the increasing availability of electric vehicles. The growing focus on sustainability, driven by environmental concerns and regulatory pressures, is boosting demand for electric car rentals as a way to reduce carbon emissions and promote eco-friendly transportation.
The rise of urban mobility solutions, including car-sharing and short-term rentals, is also driving demand for electric vehicles that are well-suited for city driving and offer a quieter and more efficient alternative to traditional cars. Additionally, the increasing availability of electric vehicles in rental fleets, supported by the expansion of EV models from major automakers, is making it easier for consumers to choose electric cars for their rental needs. These trends are shaping the future of the electric car rental market, driving innovation and growth in the industry.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Hybrid Cars Rental segment, which is expected to reach US$22.7 Billion by 2030 with a CAGR of a 16.8%. The Battery Cars Rental segment is also set to grow at 14.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $4.3 Billion in 2023, and China, forecasted to grow at an impressive 20.6% CAGR to reach $9.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Avis Rent a Car System LLC, DriveElectric, Enterprise Holdings, Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 352 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $15.9 Billion |
| Forecasted Market Value (USD) by 2030 | $43.2 Billion |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Electric Car Rental - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Urban Mobility Shifts Propel Demand for Electric Car Rentals
- Government Policies and Incentives Spur Electric Rental Market Growth
- Tourism Industry Trends Drive Demand for Eco-Friendly Rental Options
- Battery Technology Advancements Expand Operational Efficiency
- Charging Infrastructure Development and Its Impact on Rental Viability
- Consumer Environmental Awareness Generates Market Opportunities
- Urban Planning and Zoning Laws Impact Rental Service Locations
- Global Expansion of EV Charging Networks and Accessibility
- Market Entry Strategies for New Players in the EV Rental Space
FOCUS ON SELECT PLAYERS(Total 25 Featured)
- Avis Rent a Car System LLC
- DriveElectric
- Enterprise Holdings, Inc.
- Europcar International S.A.S.U.
- EVision Electric Vehicles
- Green Motion International
- Nexus Vehicle Rental
- Rentcars.com
- SIXT SE
- The Hertz Corporation
- Turo, Inc.
- UFODRIVE S.A.
- Zeal Rentals
- Zipcar, Inc.
- Zoom EV
For more information about this report visit https://www.researchandmarkets.com/r/yltana
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