NEW YORK, Aug. 8, 2022 /PRNewswire/ — The electric car rental market is fragmented. Vendors are deploying organic and inorganic growth strategies to gain a competitive advantage.
The electric car rental market size is expected to grow by USD 8.18 trillion from 2020 to 2025. In addition, the growth momentum of the market will accelerate at a CAGR of 11.66% during the forecast period.
Electric Car Rental Market by Vehicle Category and Geography – Forecast and Analysis 2021-2025
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Electric Car Rental Market 2021-2025: Scope
The electric car rental market report covers the following areas:
Electric Car Rental Market 2021-2025: Vendor Analysis
Avis Budget Group Inc., Enterprise Holdings Inc., ER CAPITAL Ltd., Europcar Mobility Group SA, Fleetdrive Management Ltd., Green Motion International, Hertz Global Holdings Inc., Plug N Drive, SIXT SE, and Wattacars are among some of the major market participants. The key offerings of a few of these vendors are listed below:
- Avis Budget Group Inc. – The company offers car rental services through Avis mobile app.
- Enterprise Holdings Inc. – The company offers rental car services under the brand Enterprise Rent-A-Car (ECAR).
- ER CAPITAL Ltd. – The company offers car and van rental services in the UK and is expanding to the US.
- Europcar Mobility Group SA – The company offers electric car rentals, along with cables, a charge card, and an app.
- Fleetdrive Management Ltd. – The company offers business vehicle leasing and added-value fleet management solutions.
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Electric Car Rental Market 2021-2025: Driver and Challenge
The increasing demand for rental cars due to the rise in international tourism is driving the growth of the market. International travel has grown significantly across the world. It has contributed to job creation and the well-being of communities globally. Most tourists opt for rental cars instead of tourism services to explore places. Rental cars offer advantages over taxis and tourism services in terms of privacy, safety, freedom, and cost benefits. Thus, the growth of the tourism industry is crucial to the growth of the car rental market.
The global power crisis is hindering the growth of the EV market, which is challenging the growth of the electric car rental market. The demand for power to drive the vehicles is increasing globally with the growth of the hybrid vehicle and EV markets. Developing and underdeveloped countries, where the power generation meets only average daily consumption, cannot afford to have a large number of electric vehicles. Thus, the growing power crisis in developing countries is a major hurdle for the growth of EVs and, in turn, the global electric car rental market.
Electric Car Rental Market 2021-2025: Segmentation
- Vehicle category
- Geography
- Europe
- North America
- APAC
- South America
- MEA
Electric Car Rental Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist electric car rental market growth during the next five years
- Estimation of the electric car rental market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electric car rental market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electric car rental market vendors
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Electric Car Rental Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.66% |
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Market growth 2021-2025 |
USD 8.18 trillion |
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Market structure |
Fragmented |
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YoY growth (%) |
10.68 |
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Regional analysis |
Europe, North America, APAC, South America, and MEA |
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Performing market contribution |
Europe at 43% |
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Key consumer countries |
US, China, Germany, Italy, and France |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Avis Budget Group Inc., Enterprise Holdings Inc., ER CAPITAL Ltd., Europcar Mobility Group SA, Fleetdrive Management Ltd., Green Motion International, Hertz Global Holdings Inc., Plug N Drive, SIXT SE, and Wattacars |
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Market Dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
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
- Economy cars – Market size and forecast 2020-2025
- Luxury cars – Market size and forecast 2020-2025
- Market opportunity by Vehicle category
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Avis Budget Group Inc.
- Enterprise Holdings Inc.
- ER CAPITAL Ltd.
- Europcar Mobility Group SA
- Fleetdrive Management Ltd.
- Green Motion International
- Hertz Global Holdings Inc.
- Plug N Drive
- SIXT SE
- Wattacars
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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