Electric Vehicle Rental Market Share

On the basis of geographical analysis, the global electric car rental market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. North America industry is poised to dominate majority revenue share by 2036, propelled by growing usage of car rental services, and increasing number of leisure and business trips across the region, both internationally and locally. In addition, strong presence of prominent market players is also anticipated to boost the region’s market growth in the future. Moreover, the market in Europe is also projected to acquire a notable share during the forecast period, which can be credited to the rise in government investments for green transportation facilities, and upsurge in adoption of electric vehicles in the region. As per a report published by the International Council of Clean Transportation or ICCT, a total of 564,000 electric vehicles were registered were made in 2019 in Europe. The EV sales across the region observed a growth of 3.6 percent in the same year.