The car industry will stay in low gear in 2024. 98 billion USD by 2030. The ”Electric Car Rental Market” report provides a comprehensive analysis of growth opportunities in various segments and sub-segments. The market is projected to grow from USD 39. That sort of trend has the potential to transform urban transit. US sales more than doubled relative to the first-quarter of 2020, albeit from a much lower base. Global EV Data Explorer. 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. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the electric car rental market and it is poised to grow by USD 7. USA Car Rental Market is anticipated to increase at a high CAGR of 5% (2022 to 2032), reaching a value of about US$ 59. 9, 2021 /PRNewswire/ -- The electric car rental market is set to grow by USD 8. From 2018 through 2030, we anticipate annual growth of 2%. The Recreational Vehicle Market size is expected to grow from USD 30. The market is projected to grow from USD 43. 1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 94. Revenue is expected to show an annual growth rate (CAGR 2023-2028) of 5. In a November report, J. Electric car sales in the United States increased from a mere 0. In the US, electric car sales will increase to 585,375 in 2021, up from 345,285 in 2020. The high use of UPS devices in healthcare, chemical, and oil & gas sectors for continuous power supply is expected to propel the growth of the battery market. Recreational Vehicles (RVs) are portable units mounted on chassis and wheels. 4% in 2013 to 0. 1B. 7 per cent of the. The Car Rentals market worldwide is projected to grow by 2. The major drivers for this market are growing global tourism industry. Main reason not to buy an electric car in MalaysiaIn 2022, the car rental industry had a 9. 59 billion by 2028. The COVID-19 pandemic compelled about 95% of all automotive-related companies to put their workforces on hold during the lockdowns. 37% during the forecast period. 56 billion by 2028, at a CAGR of 17. Market trends and policy efforts in major car markets are supporting a bright outlook for EV sales. According to TransUnion, the average monthly payment for a new car rose to $736 in the first quarter of 2023, from $585 two years before. Burgeoning global e-commerce sector and changes in warehouse management over the past few years have increased the demand for forklifts to handle heavy loads and maneuver through. 92 billion in 2022. Historic period. 7 billion by 2032 - Report by FMI. 84 billion in 2023 to USD 575. [471 Pages Report] The global construction equipment market size is valued at USD 149. 01% during the forecast period. 7% during the forecast period 2023-2030. 92 Billion in 2022 and is expected to. Over the past month, the average rent for a studio apartment in Santa Clara increased by 9% to $1,845. Global Electric Car Rental Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics. 70 billion in 2023 to USD 7. In January 2022, In the United Kingdom, the. EV Market 2022-2030: The global electric vehicle market was valued at $163. Stay flexible when you rent a car. 10 billion in 2020. The COVID-19 pandemic hindered the growth of the Tourism Rental Market as there were global factory shutdowns, travel bans, and border. The market is driven by. 1 billion in 2021, and is projected to reach $11. Meanwhile, Uber and Lyft are themselves getting. 15% during the forecast period (2023-2028). 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. Based on our analysis, the market exhibited a huge decline of 6. 55 billion in 2028 at a CAGR of 6. Vehicle Features. The global ride sharing market size was USD 76. 20% during the forecast period (2023-2028). Norway is the global leader in terms of electric car market share. FILE - A Tesla electric vehicle is charged on May 10, 2023, in Westlake, Calif. 32bn in 2027. Off-Road Vehicles Market size surpassed USD 20 billion in 2022 and is slated to grow at over 8% CAGR from 2023 to 2032, driven by the increasing development of electric off-road vehicles in Europe. 1Data from Edmunds shows the average price of a used car purchase in December at $29,533, down nearly $1,600 from the record high of $31,095 reached in April 2022. As colleagues outlined in “How China will help fuel the revolution in autonomous vehicles,” “in our base forecast, such vehicles could account for as much as 66 percent of the passenger-kilometers traveled in. Meanwhile Sixt offers. 7 Billion by 2028, exhibiting a growth rate (CAGR) of 3. Electric Car Rental Market to grow at a CAGR of 15% through 2032 | Electric Car. The market is projected to grow from USD 82. Global sales will miss pre-pandemic levels, with just 3% more new cars and 1% more commercial. People. 41% of renters spend more than 35% of their income on rent. Drive an electric vehicle from a top brand, like the BMW i4, BMW iX Tesla Model Y Long Range and Tesla Model 3. In 2022, about 88 percent of all cars sold in Norway were electric cars, including battery-electric vehicles (BEV) and plug-in hybrid. The global COVID-19 pandemic has been unprecedented and staggering, with commercial vehicle. The market is expected to expand at a CAGR of 94. China and Singapore will remain the key players in the sector, though countries like India are also on their way to adopting e-scooter sharing services. Due to this rise, the market will face a boom in CAGR by 8. Trend 3: Open Data and Open-Source Collaboration Models Gain Momentum. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. The market is further expected to grow at a CAGR of 5. The approximately $260 billion US auto insurance market is on notice. Then came 2020. 19 million respectively in 2021. The People’s Republic of China remains the world’s largest electric car market, followed by Europe and the United States. New car sales might be in trouble but I’m betting on boom times for used cars in 2021. 4. The COVID-19 pandemic initially had a negative impact on the market as the shutdown of manufacturing units and lockdowns resulted in a. Digital & Trend reports. Manufacture of motor vehicles. Get a quote. 4 million were light commercial vehicles (LCVs) and 3. 82bn in 2027. Dr Martyn Davies, Deloitte’s Africa Auto Sector Leader, and a panel of industry experts discussed the recent trends identified by the Deloitte Global Automotive Consumer Study and how they will impact the SA marketplace. Page number. We see remarkable growth in the EV sector in the UAE, as the country ranked among the top 10 sustainable nations in the world. The Global Car Rental Market was valued at USD 98. Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations) Electric Car Rental Market is poised to grow at a CAGR of 14. 42 Million by 2027 registering a CAGR of over 9. Since model year 2004, CO 2 emissions have decreased 25%, or 114 g/mi, and fuel economy has increased 32%, or 6. 26 billion in 2023 to USD 63. 6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase. The Global Car Rental market is projected to grow at a CAGR of around 7% during the forecast period, i. A significant rise in the number of people taking business and leisure trips across the globe is driving the demand for car rental services, thereby propelling. Bags. 8% from 2023 to 2030. That average is still below the 2 year pre-COVID level by -1. Looking forward, IMARC Group expects the market to reach 86. China, with 4. in 2022—a 51. Used-car prices are expected to drop as much as 20% in 2023 as inventory stabilizes. Chapter 4: Presenting the Electric Car Rental Market Factor Analysis, Porters. That is just 5% of total car sales, but it shows we're already entering the steep part of the S. The Car Rentals market in in Germany is projected to grow by 1. “The increase in demand for electric vehicles is driving. The global car rental market size was valued at $92. This derailed the sales of recreational vehicles in the market for a few months in the. are now $2,011, on average, representing a 3. 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. The key. The rising levels of carbon emissions and other harmful gases stemming from transportation have triggered the necessity of adopting electric. dollars, used EVs were around 71 percent. In contrast, the United States market for BEVs fell 2 per cent (see figure 1). Few things are as uniquely beautiful as a summer road trip, and many people start. Fastest-growing. 02%, resulting in a. EV sales rose 65 percent from 2017 to 2018 (Exhibit 1). In recent years, Indonesia also started producing. • Japan is the worlds third Largest plug in car country market with about 1,47,500 0 100000 200000. 22 billion in. The Global Electric Car Rental Market is expected to grow at a CAGR of 9. Electric car rental. 48 billion in 2020 and is projected to grow from USD 84. In terms of automotive production by vehicle type, the Indonesian automotive industry has developed a preference for sturdy 4x2 vehicles. 2019 saw the car rental industry earn a record-setting $32 billion in revenue, only for this to drop to $23. The Middle East and Africa Automotive Electric Vehicle Market size is expected to grow from USD 2. The automotive sales market in Malaysia, with its approximately 33 million inhabitants, is relatively small. China was the second fastest-growing market among the world’s top 10 EV markets in 2022 in terms of sales. Ryan Robinson’s Presentation. S. Of the global markets for AVs, China catches the eye (Exhibit 4). Switzerland. It has the potential to become the world’s largest market for AVs. 94% from 2018 to 2025, to reach 7,593 thousand units by 2025. 9. 42 billion by 2028 from USD 245. 2% from 2021 to 2030. Since 2021, rents have increased across inner-city and regional areas throughout all the states. The electric vehicle (EV) market in the United States broke records in 2022, estimated at just under 918,500 light electric vehicle sales. The Car Rentals market in in the United States is projected to grow by 1. 39% (2023-2028) resulting in a market volume of US$103. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least. The global electric scooters market size was estimated at USD 33. The investments in the car-sharing market, at approximately $3 billion, are small compared with investments in e-hailing. The COVID-19 crisis tremendously affected the tourism industry across the world. 52% during the 2022-2029 forecast period. 17 percent year-over-year increase. 4% from 2023 to 2028. 5 percent of the global market. The global car sharing market will reach $9 billion in valuation by 2026, growing at a CAGR of over. Norway (65%), The Netherlands (20%), and Sweden (19%) are the top markets in the battery electric car segment in the European Economic Area. 2% from 2023 to 2030. E-Bike Market Share. And 88% of respondents planned to export mainly EVs. 38% of US adults would consider an EV for their next vehicle purchase. 73 billion in 2028 at a Compound Annual Growth Rate (CAGR) of 16. "The 500 is small, but if you don’t need space it could be your only car. 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. 45 billion in 2021 and is projected to grow from USD 3. 3. The growth of the market depends on several factors, including increasing demand for rental cars due to the rise in international tourism, the need for optimum performance. Automatic. 5 billion by 2033. docx. China could see EVs rise to 15. 5% during forecast period. Electric Vehicles. 1 billion in 2023. 21 billion by 2030. The global recreational vehicle market size was valued at USD 47. It can offer a maximum range of 99. The total number of road motor vehicles registered in Canada increased to 26. 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. group, government, corporate, tour, insurance replacement rentals) or similar rates do not qualify. Probably the most important trend in the automotive industry is the worldwide shift to electric vehicles (EVs). The sector has momentum, however, and global sales of E2Ws and E3Ws are increasing by more than 14 percent annually. The revenue earned by the U. 1) By Vehicle Type: Battery Cars, Hybrid Cars, Plug-in Electric Cars. 9 billion in 2021 to US$6. 3 Global Electric Car. The average minimum listing price for used EVs that Recurrent tracks (including lots of like-new 2022 "used" cars) is $29,400. Growth will be helped along by the rising appeal of online used car retail. Growth momentum. 22 Jun, 2021, 03:30 ET. 2 billion by 2028 and is expected to reach USD 51. The impact of the COVID-19 pandemic on the electric vehicle market is inescapable. 50%. Norway leads the world in electric vehicle (EV) adoption: EVs account for more than 20 percent of passenger vehicles in the country and more than 80 percent of new vehicles sold. 95 billion in 2021. The Electric Vehicles market in in Germany is projected to grow by 14. Book a Sporty Car. Golf Cart Market Analysis. 76 million in 2021 and is expected to reach USD 63. 2023 Polestar 2 A New Standard For Premium Electric Driving. China’s NEV market has been historically supply and policy driven. Revenues from the EV market reached approximately 102. Morgan researchers opined that new car prices were likely to fall no more than 5% in 2023 while used. 9 billion by 2030 at a CAGR of 13. The car rental market has recovered following its setback from the COVID-19 pandemic. The global automotive finance market size is projected to reach USD 385. Electric Car Rental Market Size was valued at USD 9. The expanding travel and tourism industry, rising trend of business and corporate travel, changing attitude toward car ownership, rapid. The global commercial vehicle rental and leasing market size was valued at USD 77. Rent Change. 75 billion by 2030, registering a CAGR of 18. 7 % during the forecast period. 5% of global car sales. While the agreements of most. There is a huge demand for EVs and the response is immense. Various factors, including the diversification of services, increasing urbanization, rising disposable income, ascending preference for on-demand transportation, and growth of tourism, have played a major role in the market growth. 64% during the forecast period. 10 billion by 2030, exhibiting a CAGR of 17. 13 billion in 2021, and it is expected to reach USD 20. Electric Vehicles. Electric car rental is a service that enables customers to rent an electric vehicle (EV) for. USA Car Rental Companies. 2023 Hyundai Ioniq 6 A Smart, Sport And. Minimum driver age: 30. By 2030, shared-mobility spending is projected to reach €150 billion in our base-case scenario and about €200 billion in our accelerated scenario in our model of. 91% (2023-2027) resulting in a market volume of US$26. Our latest report on the luxury-automobile market updates McKinsey’s extensive research on the sector. Car-sharing businesses can find it difficult to offer customers a. 157. 91 billion in 2023 at an impressive. Largest Segment by Fuel Type - Gasoline: Diesel LCV has the vast majority of sales across all fuel types as it is traditional and is being used universally. 1% from 2021 to 2027. 04% in terms of revenue during the forecast period (2022-2027). The automotive finance industry size was valued at USD 248. 2% in terms of revenues during 2022-2028. 4 Million Units by 2032, exhibiting a. 99% during the forecast period (2023-2028). Fleets of AVs expand the scope of last-mile deliveries, reduce downtime, and aim to make public transportation relatively safer. 1. In 2014, the U. 4% increase over the market share in March. The global electric vehicle market size accounted for USD 205. 28 billion in 2021, and it is expected to reach USD 223. That means participants need to conduct market segmentations at the city level. European Passenger Car Market Forecast. As per newly released data by Future Market Insights (FMI), the United Kingdom car rental market is estimated at US$ 3,203. The major drivers for this market are growing global tourism industry. 55 billion in 2023 to USD 19. Offering efficiency, power, and comfort without compromising on the Range Rover's iconic design, the P400e PHEV is the ideal luxury car to hire. 15 billion in the current year and is expected to reach USD 2. 01 billion in 2020, and is projected to reach $823. e. 41 billion in 2023 to US$ 2. 09% during the forecast period (2023-2028). And, in the UK and Europe, driving an EV means you can go into areas like central London without paying a congestion tax, and into areas where fossil fuel cars are now banned. New car sales in the European Union rose 14. S. India's electric vehicle market size is expected to reach USD 152. Conventional ICE vehicles will be steadily displaced by EVs. Growth momentum & CAGR. Ltd, Merida Industry Co. 120. In 2021, more than that many are sold each week. Skip Scooters is valued at $100 million. plug-in hybrids), roughly double the combined total of BMW, Volkswagen and Mercedes. 3. Highlights. Getty. 7% from 2020 to 2027. US electric vehicle sales to hit record this year, but still lag behind China and Germany. Automotive. Searches for “electric vehicles” are up by 168% over the past 5 years. The Global Electric Car Rental market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. this year, according to Atlas Public Policy. Technology in the sector is moving in leaps and bounds, and, despite supply chain disruptions putting strain on. Revenue in the Electric Vehicles market is projected to reach US$1,052. This year, that. , Aviscar, Inc. In 2020, the overall car market contracted but electric car sales bucked the. 27%. E-bikes enable users to cycle further and more often. Market Research. 7 billion by 2030, at a CAGR of 3. 7 billion in 2023 and is expected to reach USD 194. Based on our analysis, the Chevy Bolt is one of the cheapest electric vehicles to insure with an average full coverage premium of $2,007 per year. 2 Electric Power Research Institute, Palo Alto, CA, United States of America . The. In 2021, the global car rental market was estimated to be worth roughly US$ 102. With the outbreak of COVID-19 , many new habits emerged, including social isolation, cleanliness, sanitation, and working from home. The market is. The market is projected to grow from USD 28. 2020. This equipment is transportable, semi-permanent, or. The global automotive electronic control unit market size was valued at USD 53. While Japan was behind China in car output, the Japanese Toyota was the best-selling automotive brand worldwide in 2021, holding some 10. Three accelerating and interconnected trends will fundamentally transform the $2. Mercedes-Benz, BMW, and Audi are the top luxury car manufacturers. With Teslas hitting our fleet daily, be the first to. 36 billion in 2021 and is forecast to register a CAGR of 7. electric vehicle market size was USD 24. Explore historical and projected data on electric vehicles sales, stock, charging infrastructure and oil displacement. 28 billion in 2021 and is expected to reach USD 97. Market share of electric vehicles in Norway 2009-2022. After a decade of rapid growth, in 2020 the global electric car stock hit the 10 million mark, a 43% increase over 2019, and representing a 1% stock share. 02 billion in 2021, and it is expected to reach USD 139. Reserve today. Easy-to-use tools let you list your property where millions of renters search each month. A luxury elite electric car provides excellent fuel economy without compromising on comfort or style, great for a long road trip. 65 million. , Budgetcar, Inc. EV drivers and those wishing to try an EV are. 1% from 2021 to 2028. Growth in online car booking and increasing air traffic escalates the USA car rental market trend. That is just 5% of total car sales, but it shows we're already entering the steep part of the S. 48%. It is developed with the support of the members of the Electric. IBISWorld reports on thousands of industries around the world. Electric Car Rental Market Scope. Real-world fuel economy remained at a record high 25. Advertisement. S. 8 years), followed closely by Spain (13. India Bike and Scooty Rental Market Analysis. Author affiliations. The global impact of COVID-19 has been unprecedented and staggering, with ride sharing witnessing a negative demand shock. 4 Billion in 2021 and is projected to. Scooter rental refers to renting a scooter for a limited time. Insurance excess £2,500. Japan was on top with a 119% YoY growth. In 2018, the global electric car fleet exceeded 5. As of 2022, the luxury car rental market stood at $29. 5% from 2023 to 2032. A recent analysis finds that sales of cars priced at $25,000 or less have fallen by 78% in just five years. Thailand. The demand for USA car rental grows with reducing sales volume of self-owned cars and aids. 9% of used EV sales in the past 90 days were under $25,000. The Indian electric car market sales volume is expected to reach 37,792 unit in 2022, and it is expected to reach 376,000 unit in 2030, with a growth rate of 33. In 2018, Canadians purchased almost 2. 1% from 2021 to 2027. During the period 2017-2021, business rentals registered a CAGR of -9. With 132,000 units sold in Q3 of 2020, the Tesla Model Y is the world’s best-selling electric automobile. In the UK, average net proft margins fell from c. The report shows that electric vehicles (EVs) currently make up only 3% of car sales worldwide. Details. UFODRIVE is an electric car rental company based at three European airports: Brussels, Luxembourg, and Hamburg. 2022, Autonom Service, a car rental company, invested Euro 15 million (USD 16. In 2022, the market is growing at a steady rate and with the. 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. At 24. .