Electric car rental market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 11, 2023 /PRNewswire/ -- According to Technavio, the global electric car rental market size is estimated to grow by USD 11,246.65 million from 2022 to 2027. The market is expected to grow at a CAGR of 12.64% during the forecast period. Moreover, the growth momentum will progress. Europe will account for 42% of the growth of the global market during the forecast period. 

For more insights on market size, request a sample report

The global electric car rental market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• For interpretation of Porter's five forces model – buy the report!

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Segment overview

Technavio has segmented the market based on type (economy cars and luxury cars) and distribution channel (offline and online). 

• The economy cars segment will growth at the highest rate during the forecast period. Major vendors have included a small set of economical electric cars to target consumers. Moreover, most tourists use electric cars for short trips. These factors will drive the growth of this segment during the forecast period.

Geography overview

Based on geography, the global electric car rental market is segmented into Europe, North America, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global electric car rental market.

• Europe is estimated to account for 42% of the growth of the global market during the forecast period. The rental car business in the region is driven by the tourism industry. The European Commission has launched various initiatives to promote sustainability, accessibility, and culture, as well as seasonal and coastal tourism, which will increase employment and economic growth. Electric car rentals are supported by sustainable development initiatives. These factors will drive the growth of the market in the region during the forecast period.

Download a sample report

Key factor driving market growth

• Government regulations, incentives, and subsidies provided for EVs are driving market growth. 
• With a focus on environmental sustainability, countries across the world are striving to reduce their carbon footprint.
• Governing bodies have taken significant measures to combat carbon dioxide emissions by the automotive industry.
• Hence, government regulators and councils are promoting the use of alternative energy vehicles such as electric cars and ECVs.
• These factors will drive the growth of the market during the forecast period.

Leading trends influencing the market 

• The introduction of battery-swapping technology is a key trend in the market. 
• Battery-swapping technology allows batteries to be hot-swapped, which allows users to change batteries in minutes. Currently, this technology is being tested.
• Vendors are also planning to offer replaceable batteries for charging stations with an additional fee.
• These factors will support the growth of the market during the forecast period.

Major challenges hindering market growth

• The global power crisis is hindering the growth of the market. 
• Developing and underdeveloped countries cannot afford a large number of electric cars due to the inadequate availability of power. For instance, there is a major power crisis in countries such as India.
• The growing power crisis in developing countries is a major obstacle to the growth of the electric car market.
• This, in turn, will impede the growth of the global electric car rental market during the forecast period. 

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this electric car rental market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the electric car rental market between 2023 and 2027
• Precise estimation of the size of the electric car rental market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the electric car rental market across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of electric car rental market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The car leasing market size is expected to increase by USD 51.32 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.95%. This report extensively covers car leasing market segmentation by end-user (commercial and non-commercial) and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

The railcar leasing market size is expected to increase by USD 3.77 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.66%. This report extensively covers railcar leasing market segmentation by type (freight cars, tank cars, and locomotives) and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

Browse for Technavio's industrials market reports

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electric car rental market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global electric car rental market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Economy cars - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Economy cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Economy cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Economy cars - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Economy cars - Year-over-year growth 2022-2027 (%)

• 6.4 Luxury cars - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Luxury cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Luxury cars - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Luxury cars - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Luxury cars - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 43: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 45: Chart on Comparison by Distribution Channel
• Exhibit 46: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 55: Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 61: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Italy - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 97: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 Avis Budget Group Inc 
• Exhibit 108: Avis Budget Group Inc - Overview
• Exhibit 109: Avis Budget Group Inc - Business segments
• Exhibit 110: Avis Budget Group Inc - Key offerings
• Exhibit 111: Avis Budget Group Inc - Segment focus

• 12.4 Blu Smart Mobility Pvt. Ltd. 
• Exhibit 112: Blu Smart Mobility Pvt. Ltd. - Overview
• Exhibit 113: Blu Smart Mobility Pvt. Ltd. - Product / Service
• Exhibit 114: Blu Smart Mobility Pvt. Ltd. - Key offerings

• 12.5 Blue Cars Ltd.
• Exhibit 115: Blue Cars Ltd. - Overview
• Exhibit 116: Blue Cars Ltd. - Product / Service
• Exhibit 117: Blue Cars Ltd. - Key offerings

• 12.6 Current Vehicles Ltd. 
• Exhibit 118: Current Vehicles Ltd. - Overview
• Exhibit 119: Current Vehicles Ltd. - Product / Service
• Exhibit 120: Current Vehicles Ltd. - Key offerings

• 12.7 DriveElectric
• Exhibit 121: DriveElectric - Overview
• Exhibit 122: DriveElectric - Product / Service
• Exhibit 123: DriveElectric - Key offerings

• 12.8 Enterprise Holdings Inc. 
• Exhibit 124: Enterprise Holdings Inc. - Overview
• Exhibit 125: Enterprise Holdings Inc. - Product / Service
• Exhibit 126: Enterprise Holdings Inc. - Key news
• Exhibit 127: Enterprise Holdings Inc. - Key offerings

• 12.9 Envoy Technologies Inc. 
• Exhibit 128: Envoy Technologies Inc. - Overview
• Exhibit 129: Envoy Technologies Inc. - Product / Service
• Exhibit 130: Envoy Technologies Inc. - Key offerings

• 12.10 ETO Motors Pvt. Ltd.
• Exhibit 131: ETO Motors Pvt. Ltd. - Overview
• Exhibit 132: ETO Motors Pvt. Ltd. - Product / Service
• Exhibit 133: ETO Motors Pvt. Ltd. - Key offerings

• 12.11 Evoke Pty Ltd.
• Exhibit 134: Evoke Pty Ltd. - Overview
• Exhibit 135: Evoke Pty Ltd. - Product / Service
• Exhibit 136: Evoke Pty Ltd. - Key offerings

• 12.12 Green Motion International 
• Exhibit 137: Green Motion International - Overview
• Exhibit 138: Green Motion International - Product / Service
• Exhibit 139: Green Motion International - Key offerings

• 12.13 Hertz Global Holdings Inc. 
• Exhibit 140: Hertz Global Holdings Inc. - Overview
• Exhibit 141: Hertz Global Holdings Inc. - Business segments
• Exhibit 142: Hertz Global Holdings Inc. - Key offerings
• Exhibit 143: Hertz Global Holdings Inc. - Segment focus

• 12.14 Plug N Drive
• Exhibit 144: Plug N Drive - Overview
• Exhibit 145: Plug N Drive - Product / Service
• Exhibit 146: Plug N Drive - Key offerings

• 12.15 SIXT SE
• Exhibit 147: SIXT SE - Overview
• Exhibit 148: SIXT SE - Business segments
• Exhibit 149: SIXT SE - Key news
• Exhibit 150: SIXT SE - Key offerings
• Exhibit 151: SIXT SE - Segment focus

• 12.16 Stellantis NV
• Exhibit 152: Stellantis NV - Overview
• Exhibit 153: Stellantis NV - Business segments
• Exhibit 154: Stellantis NV - Key news
• Exhibit 155: Stellantis NV - Key offerings
• Exhibit 156: Stellantis NV - Segment focus

• 12.17 Volkswagen AG
• Exhibit 157: Volkswagen AG - Overview
• Exhibit 158: Volkswagen AG - Business segments
• Exhibit 159: Volkswagen AG - Key offerings
• Exhibit 160: Volkswagen AG - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 161: Inclusions checklist
• Exhibit 162: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 163: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 164: Research methodology
• Exhibit 165: Validation techniques employed for market sizing
• Exhibit 166: Information sources

• 13.5 List of abbreviations 
• Exhibit 167: List of abbreviations

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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED