By 2035, more than 95 percent of all cars and trucks on the road would need to be zero-emission vehicles to limit warming to 1. Sales of electric cars topped 2. 0m in 2023. 45% in 2020 compared to the average. S. 2% from 2023 to 2031 and reach US$ 126. 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. 9 percent over the forecast period. The E-bike Market is expected to reach USD 28. 36 billion in 2021 and is forecast to register a CAGR of 7. With advancements in technology, increasing environmental consciousness, and supportive government policies, EVs have gained. 9%. Auto Brand Value as % of Top 500 Brand's Value. NEW YORK, Nov. Vehicle rental in Europe is the practice of renting or leasing a passenger car or commercial vehicle for the short term. However, both figures. Digital & Trend reports. 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. In the context of transformation in the transportation industry and the push towards decarbonization, EV is a game changer. The global car sharing market will reach $9 billion in valuation by 2026, growing at a CAGR of over. The impact of the COVID-19 pandemic on the electric vehicle market is inescapable. 33 Million in 2021 and is expected to register a CAGR of over 9. 40% in the forecast period of 2024-2032, reaching a value of USD 166. The Global Car care products market was valued at USD 6. In 2018, Canadians purchased almost 2. Estimated Monthly Used-Vehicle SAAR and Volume 11/15/2023 According to Cox Automotive estimates based on vehicle registration data, total used-vehicle sales in October decreased 3. 08 billion. Nevertheless, China accounted for nearly 59% of the global EV sales volume. It ranges from original equipment manufacturers (OEMs) and component manufacturers, to dealerships and commercial vehicle manufacturers. 39% (2023-2028) resulting in a market volume of US$103. 28 billion in 2021 and is expected to reach USD 97. Market trends and policy efforts in major car markets are supporting a bright outlook for EV sales. It is bigger than it looks and has enough. Key points like expansion and progression of worldwide travel and tourism industry, incorporation of advanced digital technologies in car rental services, investment by global funds and players opting for. Electric Car Rental Market is poised to grow at a CAGR of 14. The differences would be evident in the changes at construction sites. 6% rise over April 2019 and a 0. Fastest-growing. S. 1 million U. Revenue is expected to show an annual growth rate (CAGR 2023-2028) of 5. 2 Million, with a CAGR of 15% by 2030 – Report by Market Research Future (MRFR) Electric Car. DOWNLOAD PDF. 610 KB PDF. Vehicle Features. The share of electric cars in total sales has more than tripled in three years, from around 4% in 2020 to 14% in 2022. 7 million and is regionally diverse. 2 Billion in 2022. Car rental included as a part of a package rate (e. The market is projected to grow from USD 43. Consumer sentiment suggests the transition to electric cars will gain momentum. 7 million units sold last year, 11. Our reports on global electric car rental market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The Global EV Outlook is an annual publication that identifies and discusses recent developments in electric mobility across the globe. Between 2020 and 2023, upwards of 130 million electric bicycles (using all battery technologies) are expected to be sold worldwide. Clean energy and improved. In the UK, average net proft margins fell from c. 54 billion in 2023, boasting a noteworthy Compound Annual Growth. That average is still below the 2 year pre-COVID level by -1. There are currently 2,442,270 electric vehicles registered in the United States. Electric Scooter Market Trends and Statistics. In June 2021, Tesla's Model 3 became the first electric car to pass one million global sales. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for Electric Car Rental market growth. Prior to COVID-19, the car rental industry in Thailand was expanding steadily and profitably, and more individuals were hiring cars than in prior years. 5% of global car sales. The demand for USA car rental grows with reducing sales volume of self-owned cars and aids. 67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25. 40 percent average yearly growth rate since February 2023 when prices began to climb after steady declines following last summer’s peak. With a starting. 77% in 1992–1993 to around 7. Five years ago, automakers offered 36 new models in that price range. 02 billion in 2021, and it is expected to reach USD 139. A lot has happened in 2022 when it comes to the world of electric vehicles (EVs), and 2023 is set to be even bigger bringing more advancements in the EV market. 50%. 5 billion by 2033. 7% during the forecast period 2023-2030. Market revenue of motor vehicles & trailers manufacturing in the Philippines from 2017 to 2021, with forecasts until 2025 (in billion U. 17. 42 Million by 2027 registering a CAGR of over 9. 3 billion by 2031, growing at a CAGR of 18. 03 billion in 2020. The Electric Car Rental Market will grow by USD 7. 94% during the forecast period (2023-2028). , 2023-28. 3 million were either heavy-duty trucks (HDTs) or medium-duty trucks (MDTs). 4% from 2019 to 2020. ONE: Online Car Rental Booking Services. 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 market is driven by. UK: forecast public charging revenue per electric vehicle 2016-2027. Read More. 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. 3 million, after the boom of 2020. 70 billion in 2023 to USD 7. In the Global Electric Vehicle Rental Market, the Electric Vehicles are among the registered BEVs. NEW YORK, June 22, 2021 /PRNewswire/ --. • Japan is the worlds third Largest plug in car country market with about 1,47,500 0 100000 200000. 5%). 22 Jun, 2021, 03:30 ET. The COVID-19 pandemic has devastated economies worldwide, and the impact was felt by businesses across verticals and hit transportation services particularly hard. 7 billion by 2032 - Report by FMI. European Passenger Car Market Forecast. The major drivers for this market are growing global tourism industry. 2021-2025. 91 billion in 2023 at an impressive Compound Annual Growth Rate. E-Bike Market Size. Electric Car Rental Market size is estimated to grow by USD 11,246. China is already the world's largest EV market at 1. 1B. The UAE Electric Vehicle Market size is projected to grow at a CAGR of 24. 2% during. We gained critical insights from our. The global car rental market size attained a value of approximately USD 104. Bags. 4 mpg. 65 million from 2022 to 2027. dollars (+5. 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. 52% (2023-2027) resulting in a market volume of US$31. Research Methodology. The number of publicly accessible chargers was up by 37% in 2021, which is lower than the growth rate in 2020 (45%) and pre-pandemic roll out rates. 69 billion in 2021 to USD 2. 08 Billion. The key. Used-car prices are expected to drop as much as 20% in 2023 as inventory stabilizes. 65 mn. This is the most efficient lever to reduce carbon emissions. 91% (2023-2027) resulting in a market volume of US$26. Unlimited mileage. The Indonesia Car Rental Market size is estimated at USD 0. The car rental market now accounts for just 4. The current asking rent is 77. Compared to 2021, this is an increase of 8. Reserve today. Today’s average used car price. 30m in 2027. Get a quote. 84% during the forecast period, 2022-2027. NEW YORK, Jan. As of 2020, total accumulated number of electric vehicle in Thailand is 186,271 units, in which passenger cars (HEV/PHEV) accounted for 93% of all EV in Thailand. Searches for “electric vehicles” are up by 168% over the past 5 years. electric cars accounted for 79 percent of new passenger car registrations in 2022,. The global airport car rental industry is expected to reach an estimated $63. licensee identified on. The revenue earned by the U. The target market holds nearly a. Mini cars and hatchback cars have been the mainstay for the automobile industry in India, with share around 50 percent and growth of 6 to 7 percent between financial year 2014 and 2017. The major drivers for this market are increasing in air travel. 37%, but if you look at the trend line, it looks like that will be eclipsed in 2022. 2% increase compared. Of the EU's four major markets, Italy has the oldest van fleet (13. The market was negatively. The global electric vehicle market size accounted for USD 205. Opportunities, 2018-2028 The Indonesia Tire Market was valued USD3. Motorhome Market Analysis. 9. A recent analysis finds that sales of cars priced at $25,000 or less have fallen by 78% in just five years. was the largest EV market followed by China, the Netherlands, Norway, and France. In the current European car market, however, OEMs are under pressure to cut costs and free up investment capital, and NSCs cannot continue to provide the same level of support as before. 7 Billion by 2028, exhibiting a growth rate (CAGR) of 3. The year 2026 has emerged as a tipping point for an acceleration in EV adoption that will drive automotive electrification trends ahead. 8% market share; Euro 7: Direct costs 4 to 10 times higher than European Commission estimates, new study reveals; New EU car sales by power source; Passenger car registrations around the world (share per. The COVID-19 crisis tremendously affected the tourism industry across the world. The demand for golf carts is fueled by several causes, including the rising popularity of golf and the increased urbanization that goes. Growth will be helped along by the rising appeal of online used car retail. 1% from 2021 to 2027. 5% from 2023 to 2030. The agency expects that around 18 percent of all cars sold worldwide in 2023 will be electric — up from only 2. Premium Statistic Share of overseas travelers using rental cars - U. 6% during the forecast period. 58 billion by 2028, at a CAGR of 9% during the forecast period (2023-2028). 13, 2021 (GLOBE NEWSWIRE. US sales more than doubled relative to the first-quarter of 2020, albeit from a much lower base. 41% increase year-over-year. 10 billion by 2030, exhibiting a CAGR of 17. 4% from 2021 to 2030. 62 billion in 2020 and is projected to grow from USD 1. In 2021, several tech companies created open-source vehicle architecture operating systems and open electric vehicle (EV) platform. 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. 58 billion in 2022 and is expand to around USD 1,716. The electric vehicle (EV) market in the United States broke records in 2022, estimated at just under 918,500 light electric vehicle sales. 1. The Electric Car Rental Global Market Report 2023, provides comprehensive information on the electric car rental market across 60+ geographies in the seven regions — Asia-Pacific, Western Europe… 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 a. 98 billion USD by 2030. 66% The global electric car rental market is forecast to grow by $8. 26 billion in 2023 to USD 63. The car shopping experts at Edmunds forecast that 14. 5% market share for EVs sold in the United States. 7% in Q2 of 2021). The market is projected to grow from USD 48. 6 per cent of new registrations. The stringent regulations being drafted. Pricing Details. Autonomous Vehicles (AVs) Self-driving or autonomous vehicles minimize the need for human drivers and look poised to transform everyday transportation. 50 billion in 2023 to USD 24. plug-in hybrids), roughly double the combined total of BMW, Volkswagen and Mercedes. 4% from 2021 to 2030. We examined regional trends across the world to explore the complex changes that could transform the sector by 2035. LONDON--(BUSINESS WIRE)--Technavio has been monitoring the car rental market and it is poised to grow by USD 103. The global impact of COVID-19 has been unprecedented and staggering, with the market in the United States witnessing a negative demand. Digital & Trend reports. 5 million, triple the amount in 2018. Lastly, the Asia Pacific region is also making its way to the segment. 61 billion by 2032. But price growth is continuing to slow down since hitting an annual peak of 16% in Feb. e. 07 billion in 2033. 4 Million Units by 2032, exhibiting a. Report Overview. 10 billion in 2020. In the first half of 2023, BYD alone sold almost 1. The market is. 9 Bn by the end of 2031; Analysts’ Viewpoint on Market Scenario. Overall, the price war has brought down the average. Highlights. The Camping Equipment Market size is expected to grow from USD 18. The thriving travel and tourism sector is bolstering the car rental market as more travellers and tourists. Rent Change. 38 billion in 2023, and is expected to reach USD 26. That will be up from 7. . 65 billion by 2030, exhibiting a CAGR of 4. Electric vehicles are gaining popularity and market share. The global bike rental market was valued at $2. "Global Electric Car Rental market size 2023 was XX Million. market growth 2002-2016; Car sales worldwide by fuel technology 2019 & 2030; Number of registered electric and hybrid vehicles in Colombia 2011-2022; North Macedonia. 58 billion by 2029, exhibiting a CAGR of 7. Market Research. Used car sales will boom. A luxury elite electric car provides excellent fuel economy without compromising on comfort or style, great for a long road trip. Nissan LEAF | Electric Range: 240 / 363 km*. S. EV drivers and those wishing to try an EV are. Electric Car Rental Market Scope. North America accounted for the highest share in the global car rental market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the. E-bikes are considered a safe, convenient, and affordable alternative to public transportation. Retail used-vehicle sales also decreased month over month in October, with one less selling day than September. China’s NEV market has been historically supply and policy driven. The Electric Vehicle Powertrain Market size is expected to grow from USD 159. [471 Pages Report] The global construction equipment market size is valued at USD 149. It can offer a maximum range of 99. 98 billion by 2030, as per the study by Grand View Research Inc. The rapid expansion of COVID-19 has disrupted car rental growth across the country. Car Rental Market Size was valued at USD 107. Automotive. 87 billion in 2023 and grow at a CAGR of 12. But in 2019, the number of units sold increased only to 2. Rent a Tesla Model S or similar from Enterprise. S. You can choose the Tesla Model S, a great option when it comes to electric cars. In Europe, electric car sales continued to increase in 2021 by more than 65% year-on-year to 2. 1% during 2023-2028. Equally sobering, EV sales declined by 25 percent during the first quarter of 2020. The PEV market reached around 6. 5 trillion industrial-machinery sector over the next decade. this year, according to Atlas Public Policy. 6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase. S. 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. 09% during the forecast period (2023-2028). " Electric Car Rental Industry Statistics. A BloombergNEF study reveals that the global electric vehicle market size and adoption will grow in the long run. 4 Million in 2022 and is projected to reach US$ 5,545. Electric Vehicles. 1. The Electric Car Rental market industry is projected to grow from USD 11. Electric Vehicle Trends for 2023. Though the trend of car ownership has grown during the pandemic, it is expected to return to the pre-pandemic trend after 2021. 46 billion by 2029, exhibiting a CAGR of 6. Browse our fleet. This article draws out new insights into the private Australian rental market using a new large administrative dataset of rental properties, which is an input to the Consumer Price Index (CPI). The U. 18 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9. The electric car rental market size is estimated to grow at a CAGR of 12. "However, there remains an EV premium of 20% to 30% over renting a comparable gasoline model," he adds. The global impact of COVID-19 has been unprecedented and staggering, with ride sharing witnessing a negative demand shock. Trend 1: Europe continues to lead EV adoption. 4 Million Units in 2023. 01 billion in 2020, and is projected to reach $823. 11% through 2028 on account of country's increasing domestic automobile market and increased exports. Car Rental Industry Trends and Projections. In 2022, the stock of fuel cell electric vehicles (FCEVs) increased 40% compared to 2021, reaching over 72 000 vehicles globally. g. In the early 1960s, as the US saw the prosperity of the airline industry, airport-based car rental became a trend. Hertz’s order for 100,000 vehicles from Tesla resulted in the company surpassing a $1 trillion market cap in the final quarter of 2021. 1 billion in 2021, and is projected to reach $11. 40 billion in 2022 to $15. Advertisement. In FY23, total automobile exports from India stood at 47,61,487. 6 percent in 2021. 5% during the forecast period. At 24. The market is expected to expand at a CAGR of 94. Historic period. 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. BY REGION, 2018–2020 (USD MILLION) TABLE 25 CAR RENTAL MARKET SIZE, BY REGION,. 85%, resulting in. The global car rental market could nearly double by 2031, reaching $121. All cars are backed by our Complete Clean Pledge. The Tourism Vehicle Rental Market was valued at USD 61. 1% higher than the nationwide median gross rent of 2020. The new edition of the IEA’s annual Global Electric Vehicle Outlook shows that more than 10 million electric cars were sold worldwide in 2022 and that sales are expected to grow by another 35% this year to reach 14 million. Car rental is a service that offers a platform to rent a car for a short time at affordable rates. 94% from 2018 to 2025, to reach 7,593 thousand units by 2025. Electric car rental is a service that enables customers to rent an electric vehicle (EV) for. After a decade when most plug-in hybrid vehicles (PHEVs) available for sale were sedans and. The COVID-19 pandemic had a negative impact on the market due to the global lockdown and social distancing norms, which halted the research and production. Fiat 500. March 20, 2023 13:18 ET | Source: Vantage Market Research. Order Report. 65 mn during 2022-2027, accelerating at a CAGR of 12. Report Coverage. 46 billion by 2029, exhibiting a CAGR of 6. According to FMI, the market is expected to expand at a CAGR of 3. The total number of road motor vehicles registered in Canada increased to 26. 92 billion in 2019 and is projected to reach $214. The COVID-19 pandemic initially had a negative impact on the market as the shutdown of manufacturing units and lockdowns resulted in a. 50 billion in 2022 to $9. 04 billion by 2027, registering a CAGR of 10. Millennials’ share of the new-car market jumped to. 75 billion by 2030, registering a CAGR of 18. The Car Rentals market worldwide is projected to grow by 2. Market trend: electric vehicles Market share of electric vehicle sales in Vietnam 0. 4% in 2013 to 0. The growth in this industry is expected to be positive during the forecast period, owing to increased urbanization and improved. 83 Billion by the end of 2032. On the one hand, some automotive OEMs develop car-sharing services in-house and leverage the opportunity to bring their own vehicles into the fleet at lower price points, which gives advantages in operating costs to. NEW YORK, Jan. Electric Car Rental Market Scope. Stay flexible when you rent a car. 26 billion in the current year and is expected to reach USD 72. In addition to this, the market generated. Here’s what to keep in mind before you hit the road. 2 Electric Power Research Institute, Palo Alto, CA, United States of America . China and Singapore will remain the key players in the sector, though countries like India are also on their way to adopting e-scooter sharing services. 5. The global industry was valued at US$ 87. Europe Vehicle Rental Market Trends. In Q2 2022, EV sales accounted for 5. The increased presence of top-notch companies and the. Looking forward, IMARC Group expects the market to reach US$ 95. The car industry will stay in low gear in 2024. 9bn in 2028. In terms of automotive production by vehicle type, the Indonesian automotive industry has developed a preference for sturdy 4x2 vehicles. The global electric bike market was valued at $40,312 million in 2019, and is projected to reach $118,657 million by 2030, registering a CAGR of 10. Lower emissions, not standards. The Nissan LEAF is a well-equipped hatchback that comfortably seats 5. 93 billion by 2028, at a CAGR of 6. Net Promotor Score℠ (NPS®) improved across all brands, with owners of larger fleets generally indicating greater loyalty than owners of fleets with. 1. The analyst's Car Rental: Top Six Industry Trends report is designed specifically for stakeholders in the shared mobility and automotive industries. 21 billion in 2021 and is projected to register a compound annual growth rate (CAGR) of 5. This approach of adopting new partnership models in the automotive sector will increase in 2022. 7% from 2021 to 2027. 6% from 2022 to 2032. docx. Electric Vehicle Market Analysis The Global Electric Vehicles Market is projected to register a CAGR of 3. 46 billion by 2030, exhibiting a CAGR of 6. The People’s Republic of China remains the world’s largest electric car market, followed by Europe and the United States. Meanwhile, Uber and Lyft are themselves getting. Alongside increased desire from consumers for car rental options, the industry faces a number of challenges as it undergoes huge transformation. 02%, resulting in a. Market 2023 Trends, Size, Share | Thermo Fisher, PerkinElmer, 3M. 95% lower than the average monthly mortgage payment. New car prices have been falling for most of 2023, with the average new car selling for $47,936 in October, Kelley Blue Book reported. Conventional ICE vehicles will be steadily displaced by EVs. 36% by 2027, the rising. The car. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least. 1 Million by 2032, at a CAGR of 5. 2022 SA Auto trends. 54 billion in 2022 to USD 65. 40 billion in 2022 to $15. The global electric vehicle market size was valued USD 384. We currently expect to see 14 million in sales by the end. The market is projected to grow from USD 82. Inadequate transport infrastructure limits the car sharing market expansion. 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. 54 billion in 2023, boasting a noteworthy Compound Annual Growth Rate. 2. Nearly 10% of global car sales were electric in 2021, four times the market share in 2019. Light Commercial Vehicles (LCV) Market Analysis The Global Light Commercial Vehicles Market is projected to register a CAGR of 1. 1The result has been improved mobility and the largest automotive market in the world — but also serious urban air pollution, high greenhouse gas emissions, and growing dependence on oil imports. The movement is being driven by the strong will of all stakeholders – the government, corporates, and consumers – who, as part of their. Global Electric Car Rental Market 2023-2027 The analyst has been monitoring the electric car rental market and it is poised to grow by $11246.