Global Electric Car Rental Market 2022-2027

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    GLOBAL ELECTRIC CAR RENTAL MARKET

     

    INTRODUCTION

    The automobile rental industry first appeared over 100 years ago. Joe Saunders (Nebraska USA), who established the first vehicle rental service in 1916, is thought to be the business’s founder.

     

    The demand for automobile rental is mostly met by major corporations. Some of the world’s major vehicle rental firms operate on a global scale.

     

    Most international firms enable you to reserve automobiles through the Internet in order to market their services. Rental automobiles is the world’s largest enterprise.

     

    The primary goal of rental companies is to hire a car for a set amount of time, which can range from a few hours to many days.

     

    They often operate stations in many locations within the same country, allowing customers to borrow a vehicle in one city and return it to another at their leisure.

     

    Branch offices are positioned near airports and other high-traffic areas. Models in the fleets include light passenger cars, light-duty vehicles, and vans.

     

     

    infographic: Electric Car Rental Market, Electric Car Rental Market Size, Electric Car Rental Market Trends, Electric Car Rental Market Forecast, Electric Car Rental Market Risks, Electric Car Rental Market Report, Electric Car Rental Market Share

     

    The two most common issues that automobile rental firms confront are determining fleet size and organizing vehicle relocations. The first issue is determining how many cars should be assigned to each city and station in order to meet demand.

     

    The second issue is determining how to move automobiles between stations. To promote sustainability, BEVs should be coupled with these automobile rental businesses.

     

    Furthermore, these cars are less expensive to maintain and may have a marketing impact on the services supplied by rental firms. However, the cost of ownership remains an issue: BEVs are still more expensive than CVs.

     

    To know more about Global Car Subscription Market, read our report

     

    ELECTRIC CAR RENTAL MARKET DYNAMICS

    The environment is constantly changing as a result of natural phenomena that are beyond human control.

     

    There are additional changes induced by people that were once insignificant but have become significant to the deterioration of the natural environment, particularly after the 19th century and the Industrial Revolution.

     

    This has resulted in the growing and integrated use of battery-powered electric cars in industrial operations and within global electric car rental market optimizations.

     

    infographic: Electric Car Rental Market, Electric Car Rental Market Size, Electric Car Rental Market Trends, Electric Car Rental Market Forecast, Electric Car Rental Market Risks, Electric Car Rental Market Report, Electric Car Rental Market Share

     

    With the ongoing promotion and deployment of EVs in all aspects of urban transportation, EVs used in carsharing are becoming more common. Early well-known and successful instances throughout the world had a positive impact.

     

    It is critical that these corporations take steps to refresh their fleets and make them more ecologically sustainable, as well as to encourage collaboration among various modes of transportation, which will maximise the use of all methods of travel, individually or in combination.

     

    The usage of battery electric vehicles (BEVs) in family vehicle fleets and carsharing systems is growing. However, the automobile rental business has been slow to embrace this technology.

     

    infographic: Electric Car Rental Market, Electric Car Rental Market Size, Electric Car Rental Market Trends, Electric Car Rental Market Forecast, Electric Car Rental Market Risks, Electric Car Rental Market Report, Electric Car Rental Market Share

     

    For starters, consumers who hire an EV are, on average, closer to adopting an electric car than persons who rent a conventional vehicle.

     

    Second, persons who rent an EV had more positive sentiments of EVs at the time of rental, have greater information about EVs, and would feel more confident driving an EV.

     

    Third, EV rental does not appear to have a significant extra influence on the participants’ stage of transition toward EV adoption.

     

    Finally, when compared to normal rental automobiles, the driving patterns of EVs do not appear to imply major constraints in terms of driving distance, parking time, and locations visited.

     

     

    ELECTRIC CAR RENTAL MARKET SEGMENTATION

    The Global Electric Car rental market can be segmented into following categories for further analysis.

     

    By Rental Scheme Type

    • Chauffeur Driven Type
    • Short Route Driven type
    • Long Route Driven Type
    • Business Drive
    • Leisure Drive
    • Shared Access Drive
    • Long Haulage Drive
    • Self Driven Type

     

    By Car Classification

    • Luxury Electric Vehicles
    • Economy Electric Vehicles

     

    By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    RECENT TRENDS IN ELECTRIC CAR RENTAL MARKET

    The primary goal of electric vehicle rental is to contribute to increasing electric car adoption. The usefulness of a vehicle’s qualities to the decision maker influences the decision maker’s choice of a vehicle.

     

    Previously, the majority of attention was focused on instrumental elements such as price, range, and fuel consumption.

     

    People must have insight into their own mobility patterns, as well as the characteristics of electric vehicles and available charging infrastructure, before they can make an educated judgement about whether it is feasible to adopt an electric vehicle. This is because people are not used to having a limited range and must solve these charging issues.

     

    infographic: Electric Car Rental Market, Electric Car Rental Market Size, Electric Car Rental Market Trends, Electric Car Rental Market Forecast, Electric Car Rental Market Risks, Electric Car Rental Market Report, Electric Car Rental Market Share

     

    China has been participating in the creation of a new technology-based implementation that merges the National EV Strategy and the China EV Pilot Project.

     

    EV- Car Sharing often need a large number of outlets in a city and it is simple to put up charging poles in a centralized manner.

     

    By creating EV Carsharing, one or more operational firms will acquire or rent a significant number of EVs, allowing a city’s promotion and application scale to swiftly increase. In this environment, governments in a rising number of EV pilot cities.

     

    Vehicle networking, mobile Internet, big data, cloud services, and other technologies and business applications are evolving; smartphones are popular; O2O mode continues to be commercially successful; and intelligent vehicle control and work schedules tools, as well as multiple flexible payment methods, have laid a strong foundation for the usage of EV-Carsharing.

     

    Most present EV-Car Sharing modules are of the fixed station type on a global technological implementation level within the Global Electric Car Rental Market.

     

    Customers must pick up and return their EVs at the same station. However, most vehicle sharing businesses want to start a one-way service that would allow users to return EVs to other stations. On average, each station has 3-5 EVs.

     

     

    RECENT LAUNCH

     

    Hertz Global Holdings, a rental car company, will buy electric vehicles from Swedish EV maker Polestar over the next five years as part of its goal to transition to zero-emission vehicles. 

     

    The company will begin selling rides in Polestar cars in Europe first, followed by North America and Australia. The Polestar 2 sedan will be ordered first by the Florida-based rental car company.

     

    Polestar, which is owned by China’s Geely and Volvo Cars, believes that the Hertz relationship will broaden access to the fantastic experience of driving an electric car by meeting a wide range of our common customers’ short- and long-term mobility needs.

     

    BluSmart, an all-electric ride-hailing platform, has launched additional features for its electric cab service, including Blu Wallet, Hourly Rentals, and Referrals. The service provider hopes to add more of these elements in the near future, as well as plant trees based on the number of rentals.

     

    BluSmart claims that by operating all-electric cars in Delhi-NCR for the past year, it has saved over 325 tonnes of CO2. For contactless monetary transactions, there’s an in-app wallet. Debit and credit cards, digital wallets, net banking, and UPI methods can all be used to replenish the wallet.

     

    Customers can continue to use the same electric vehicle around the city while catering to their demands.

     

    ELECTRIC CAR RENTAL MARKET COMPETITIVE LANDSCAPE

    There has been a recent entry of IT and internet-based Organizations to have a better foundation on the implementation of the Electric Vehicle Car Rental on the Global Electric Car Rental Market so that they may have a more integrated approach into the rental sector through technological improvements.

     

    Yiduo, now rebranded ‘one point car rental,’ is one of China’s first and most successful vehicle sharing companies, having pioneered a suite of carsharing solutions on a local level, including the most advanced RFID multi-card identification and exact mileage monitoring technology.

     

    By 2015, it had expanded its operations to eleven cities, with over 800 stations and 15,000 ICEVs serving 200,000 registered members.

     

    This has now been merged and made into an operating station based on electric vehicles. In the Global Electric Vehicle Rental Market, the Electric Vehicles are among the registered BEVs.

     

    infographic: Electric Car Rental Market, Electric Car Rental Market Size, Electric Car Rental Market Trends, Electric Car Rental Market Forecast, Electric Car Rental Market Risks, Electric Car Rental Market Report, Electric Car Rental Market Share

     

    UFODRIVE is an electric car rental company based at three European airports: Brussels, Luxembourg, and Hamburg. Other rental locations are on the way, and the company is exploring expanding into the US market.

     

    The company presently sells the Tesla Model S, Jaguar I-PACE, and the most recent Nissan Leaf. UFODRIVE will soon add the Tesla Model 3 and Hyundai Kona Electric to its fleet, while McClean is considering adding the Audi e-tron.

     

     

    COMPANIES PROFILED

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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