About Electric Car Rental
Past few decades have observed high growth in Electric Vehicle Sales across the globe, Electric Vehicle Manufacturers are heavily invested in Research & Development in order to deliver Efficient & Sustainable electric cars. This has derived growth potential for Electric Car Rental services. Major players have been successful in Market penetration for Electric Car Rental, despite presence of industry giants some regions remain unexplored. Car rental business has observed an exponential growth in the recent years. The Integration of ordinary car rental with electric cars will not only generate profits but also, serve the environmental challenge.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global Electric Car Rental market is highly competitive and consists of a limited number of providers who compete among each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for Electric Car Rental market growth. Analyst at AMA Research estimates that United States and United Kingdom Manufacturers will contribute the maximum growth to Global Electric Car Rental market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Avis Budget Group Inc. (United States), BlueIndy LLC (United States), Enterprise Holdings Inc. (United States), ER Travel Services Ltd. (United Kingdom), Europcar Mobility Group SA (France), Fleetdrive Management Ltd. (United Kingdom), Green Motion International (United Kingdom), Sixt SE (Germany), The Hertz Corp. (United States) and Wattacars (Spain) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Electric Car Rental market by Type (Economy cars and Luxury cars) and Region.
On the basis of geography, the market of Electric Car Rental has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Schedule, the sub-segment i.e. Pre-Booked will boost the Electric Car Rental market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Booking, the sub-segment i.e. Application will boost the Electric Car Rental market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distance, the sub-segment i.e. Intercity will boost the Electric Car Rental market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Sustainability and Innovation in Automobile Industry
Market Growth Drivers:
Growth in Tourism Industry, Regulations for Environment Friendly Alternatives and Electricity Cheaper than Fuel
Challenges:
Increasing Number of Startups in the Car Rental Business and Longer Break-Even Period
Restraints:
Low Penetration in Specific Region
Opportunities:
Growing Penetration of Rental Services
Market Leaders and their expansionary development strategies
On 6th August, 2019 - Europcar Mobility Group Acquired Fox Rent A Car, this Acquisition is intended to Accelerate Europcar’s Growth in the US Market. and On 2nd March, 2021 - Hertz Receives Purchase Bid by two investment Firms viz. Knighthead Capital Management and Certares Management, the Bid is Valued at USD 4.2 Billion.
On 8th March 2021 – Ola (Leading Car Rental Service Provider) Announced its Plans to Enter Electric Vehicle Segment Named “Ola Electric” by Setting up India’s First Electric Scooter Plant.
Key Target Audience
Electric Car Manufactures, Car Rental Service Providers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.