USD 8.18 Trillion growth in Electric Car Rental Market | Europe to Emerge as Largest Market | Technavio

NEW YORK, Nov. 9, 2021 -- The electric car rental market is set to grow by USD 8.18 trillion between 2020 and 2025, accelerating at a CAGR of almost 12%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Factors such as the increasing demand for rental cars due to the rise in international tourism and the need for optimum performance and reduction in emissions will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The electric car rental market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

The report covers the following areas:

• Electric Car Rental Market size
• Electric Car Rental Market trends
• Electric Car Rental Market industry analysis

Electric Car Rental Market 2021-2025: Segmentation

• Vehicle Category
• Economy Cars
• Luxury Cars
• Geography
• Europe
• North America
• APAC
• South America
• MEA

The economy cars segment generated maximum revenue in the market in 2020. Factors such as the increase in vehicle range and the development of charging infrastructure are driving the growth of the segment. By geography, the market observed maximum growth in Europe in 2020. The region accounts for 43% of the overall market share. The increasing adoption of EVs is driving the growth of the electric car rental market in Europe.

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Electric Car Rental Market 2021-2025: Vendor Analysis and Scope

Some of the major vendors of the electric car rental market include 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. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Backed with competitive intelligence and benchmarking, our research report on the electric car rental market is designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

The electric car rental market is fragmented, and the degree of fragmentation will accelerate. Lucrative government incentives leading to increasing sales of electric cars will offer immense growth opportunities. However, the global power crisis hindering the growth of the EV market will hamper the market growth.

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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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