COVID-19 Impacts: Electric Car Rental Market Will Accelerate at a CAGR of Over 11% Through 2020-2024|Demand for Rental Cars to Boost Growth| Technavio

Technavio has been monitoring the electric car rental market and it is poised to grow by USD 7.14 billion during 2020-2024, progressing at a CAGR of over 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions-

• What was the value of the electric car rental market in 2019?
• Technavio says that the value of the market was USD 10.22 billion in 2019 and it is projected to reach USD 17.36 billion by 2024.

• At what rate is the market projected to grow during the forecast period 2020-2024?
• Growing at a CAGR of over 11%, the market growth will accelerate in the forecast period of 2020-2024.

• What is the key factor driving the market?
• Demand for rental cars and the need for optimum performance and reduction in emissions are the key factors driving the market growth.

• Who are the top players in the market?
• Avis Budget Group Inc., BlueIndy LLC, Enterprise Holdings Inc., ER Travel Services Ltd., Europcar Mobility Group SA, Fleetdrive Management Ltd., Green Motion International, SIXT SE, The Hertz Corp., and Wattacars are some of the major market participants.

• Which region is expected to hold the highest market share?
• Europe

• What is the year-over-year growth rate of the global market?
• The year-over year growth rate for 2020 is estimated at 9.98%.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Avis Budget Group Inc., BlueIndy LLC, Enterprise Holdings Inc., ER Travel Services Ltd., Europcar Mobility Group SA, Fleetdrive Management Ltd., Green Motion International, SIXT SE, The Hertz Corp., and Wattacars are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Demand for rental cars has been instrumental in driving the growth of the market.

Electric Car Rental Market 2020-2024: Segmentation

Electric Car Rental Market is segmented as below:

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

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Electric Car Rental Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our electric car rental market report covers the following areas:

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

This study identifies the need for optimum performance and reduction in emissions as one of the prime reasons driving the electric car rental market growth during the next few years.

Electric Car Rental Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the electric car rental market, including some of the vendors such as Avis Budget Group Inc., BlueIndy LLC, Enterprise Holdings Inc., ER Travel Services Ltd., Europcar Mobility Group SA, Fleetdrive Management Ltd., Green Motion International, SIXT SE, The Hertz Corp., and Wattacars. Backed with competitive intelligence and benchmarking, our research reports on the electric car rental market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Electric Car Rental Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• 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

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Vehicle Category

• Market segments
• Comparison by Vehicle Category placement
• Economy cars - Market size and forecast 2019-2024
• Luxury cars - Market size and forecast 2019-2024
• Market opportunity by Vehicle Category

Customer Landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher-priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Avis Budget Group Inc.
• BlueIndy LLC
• Enterprise Holdings Inc.
• ER Travel Services Ltd.
• Europcar Mobility Group SA
• Fleetdrive Management Ltd.
• Green Motion International
• SIXT SE
• The Hertz Corp.
• Wattacars

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

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