Electric Car Rental Market Poised for Significant Expansion, Reports New Global Industry Analysis

Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Electric Car Rental Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.

The continued escalation in demand for sustainable transportation has been driving unprecedented growth in the electric car rental sector, with a new market analysis highlighting trends and projections that have stakeholders keenly interested.

The extensive report points toward an increase in the electric car rental market from $9.82 billion in 2023 to an estimated $20.07 billion by 2028, tracing a remarkable CAGR of 15.2%. The data underscores profound changes in consumer behavior and technological advancements within the industry.

Key Growth Drivers and Market Trends

The recent analysis dives into the primary factors influencing the market's robust growth trajectory:

  • Rising Eco-Consciousness: Escalating environmental concerns are fueling market demand, with customers and businesses alike pivoting towards greener alternatives in transportation.

  • Government Incentives: Supportive policy measures and incentives are facilitating wider adoption of electric vehicles (EVs), indirectly benefiting the rental market.

  • Technological Innovations: Advancements in electric car technologies and the introduction of luxury electric rentals are catering to diverse consumer needs, from everyday travel to high-end experiences.

  • Integration with MaaS: The synergy between Mobility-as-a-Service platforms and electric rental services is streamlining user experiences and expanding market reach.

Regional Highlights and Analysis

Within the market dynamics, noteworthy regional insights were also uncovered:

  • North American Dominance: In 2023, North America retained its position as the market leader in electric car rentals, contributed by active market players and abundant adoption opportunities.

  • Asia-Pacific's Rapid Growth: Projections place the Asia-Pacific region as the fastest-growing market during the forecast period, poised for substantial industry developments and heightened consumer demand.

A selection of companies mentioned in this report includes

  • Zipcar
  • Avis Budget Group Inc.
  • Enterprise Holdings Inc.
  • Europcar Mobility Group
  • The Hertz Corporation
  • AutoLib
  • BlueIndy
  • Chefenxiang
  • DriveElectric
  • Easirent
  • Green Motion International
  • Sixt SE
  • Wattacars
  • Zoomcar
  • Blink Mobility
  • Share Now GmbH
  • DriveNow
  • E-Car Club
  • Eco Rent a Car
  • Ecomilhas
  • Ecomobix
  • Ekar
  • Electric Car Rentals
  • Emov Limited
  • EVision Electric Car Hire
  • E-Wheels
  • GIG Car Share
  • Green Cabs
  • Greenz Car Rental
  • MILES Mobility
  • Oply
  • Spark Rentals
  • Sparky
  • Wattmobile

For more information about this report visit https://www.researchandmarkets.com/r/trpj5v

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