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, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In the intricate tapestry of global economic dynamics, the electric car rental market emerges as a resilient and transformative force. Despite the tumultuous backdrop of the Russia-Ukraine war, this market showcases remarkable fortitude. As of 2022, the market’s value stood at $8.50 billion, and it is anticipated to ascend to $9.91 billion in 2023, depicting a commendable Compound Annual Growth Rate (CAGR) of 16.6%. The echoes of this conflict reverberate across the global economic landscape, giving rise to economic sanctions, surges in commodity prices, and intricate supply chain disruptions, thereby instigating inflation in goods and services sectors worldwide.
Amidst these challenges, the electric car rental market stands poised for robust expansion, transcending the obstacles presented by geopolitical events. By 2027, its market size is projected to burgeon to an impressive $17.36 billion, reflecting a steadfast CAGR of 15%. This growth signifies not only the sector’s adaptability but also its vital role in shaping the future of sustainable mobility. As the world navigates through these complexities, the electric car rental market stands as a beacon of innovation and resilience, embodying the transformative power of sustainable transportation solutions.
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The burgeoning landscape of the electric car rental market is adorned with a pivotal trend – the emergence of innovative plug mobility technology. This trend, gaining widespread traction, signifies a paradigm shift in the industry. Esteemed corporations within the market sphere are fervently investing in cutting-edge plug mobility technologies to fortify their market standing. A case in point is Carzonrent, a prominent car rental entity based in India, which took a groundbreaking step in October 2021. They introduced a robust plug-in mobility platform, revolutionizing chauffeur-driven electric vehicle (EV) services. This platform offers an array of services catering to diverse ground transportation needs such as SME services, airport taxis, business travel, employee transfers, and other transportation requirements.
What distinguishes this plug mobility platform is its unwavering commitment to emission-free and noiseless commutes. By facilitating EV fleets, it not only meets the pressing demand for sustainable transport but also significantly contributes to the noble cause of reducing carbon footprint. This forward-thinking approach not only augments the eco-conscious ethos but also heralds a new era in transportation solutions, aligning seamlessly with the global pursuit of greener, more sustainable mobility options. As the electric car rental market propels forward, such pioneering endeavors underscore the industry’s dedication to fostering environmentally friendly practices, thereby shaping a future where ecological responsibility and technological innovation harmoniously coexist.
The electric car rental market is segmented:
1) By Vehicle Type: Battery Cars, Hybrid Cars, Plug-in Electric Cars
2) By Vehicle Category: Economy Cars, Luxury Cars
3) By Application: Leisure/Tourism, Business
4) By Booking Type: Online, Offline
North America was the largest region in the electric car rental market in 2022.
The table of contents in TBRC’s electric car rental market report includes:
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Top 5 Major Key Players Are:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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