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Electric Car Rental Market size is set to grow by USD 18.00 billion from 2024-2028, Increasing demand for rental cars due to rise in international tourism boost the market, Technavio

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NEW YORK, July 3, 2024 /PRNewswire/ — The global electric car rental market size is estimated to grow by USD 18.00 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 16.68% during the forecast period. Increasing demand for rental cars due to rise in international tourism is driving market growth, with a trend towards technological advancements in battery technology. However, global power crisis hindering the growth of ev market poses a challenge. Key market players include Avis Budget Group Inc., Blu Smart Mobility Pvt. Ltd., Blue Cars Ltd., Current Vehicles Ltd., DriveElectric, Enterprise Holdings Inc., Envoy Technologies Inc., ETO Motors Pvt. Ltd., Evoke Pty Ltd., Green Motion International, Hertz Global Holdings Inc., Plug N Drive, SIXT SE, Stellantis NV, UFODrive SA, Volkswagen AG, Volt Age Hire, Wattacars, ZERO Carbon Technologies Inc., and Zoomcar India Pvt. Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Electric Car Rental Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 16.68%

Market growth 2024-2028

USD 18005.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

13.19

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 41%

Key countries

US, China, Germany, Italy, and France

Key companies profiled

Avis Budget Group Inc., Blu Smart Mobility Pvt. Ltd., Blue Cars Ltd., Current Vehicles Ltd., DriveElectric, Enterprise Holdings Inc., Envoy Technologies Inc., ETO Motors Pvt. Ltd., Evoke Pty Ltd., Green Motion International, Hertz Global Holdings Inc., Plug N Drive, SIXT SE, Stellantis NV, UFODrive SA, Volkswagen AG, Volt Age Hire, Wattacars, ZERO Carbon Technologies Inc., and Zoomcar India Pvt. Ltd.

Market Driver

The electric car rental market is experiencing significant growth due to advancements in battery technology. Li-ion batteries, while important, do not follow the trend of Moore Law and have complex chemistry, limiting faster advancements. New compounds are being explored to enhance battery performance. Silicon anodes, which can store more lithium ions than graphite, are the next step in energy density. However, silicon’s expansion during charging weakens the anode and can cause dissolution. Companies like Enovix and Samsung SDI are addressing these challenges with innovative battery designs, such as porous silicon anodes and quick charging capabilities. The Joint Center for Energy Storage Research is also developing multivalent-ion and lithium-sulfur batteries, which can store twice the energy of Li-ion batteries. These advancements will drive the growth of the electric car rental market during the forecast period. 

The electric car rental market is experiencing significant growth with an increasing number of consumers opting for eco-friendly transportation solutions. According to recent trends, the demand for electric cars in rental services is on the rise. This shift is driven by several factors including the reduction in battery costs, government incentives, and the growing awareness of environmental concerns. Additionally, technological advancements in battery technology and charging infrastructure are making electric cars more convenient and accessible. Companies are responding to this trend by expanding their electric vehicle fleets and investing in charging stations. Overall, the electric car rental market is poised for continued growth in the coming years. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The electric car rental market faces challenges due to increasing power demand for electric vehicles, particularly in developing countries. For instance, Europe’s shift to electric vehicles reduces crude oil consumption but increases global power demand by 11%. In Asia, power crises in countries like India and Japan, driven by high hybrid vehicle adoption in Japan, exacerbate the issue. Japan’s power crisis, caused by the 2011 Fukushima disaster and reliance on imports, increases electricity costs and hinders EV market growth. These power crises pose significant hurdles for the electric car rental market expansion during the forecast period.The electric car rental market is experiencing significant growth, with an increasing number of consumers opting for eco-friendly transportation solutions. However, challenges persist in this sector. One major issue is the high cost of electric vehicles (EVs) compared to traditional cars. Additionally, the limited range of EVs and the lack of charging infrastructure in some areas can deter potential renters. Furthermore, the high cost of battery replacement and maintenance can also be a concern. To address these challenges, rental companies must invest in expanding their EV fleets, improving charging infrastructure, and offering competitive pricing to attract customers. Collaborations with charging station providers and government incentives can also help mitigate these issues. Overall, the electric car rental market presents both opportunities and challenges, requiring strategic planning and innovation to succeed.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This electric car rental market report extensively covers market segmentation by

Type 1.1 Economy cars1.2 Luxury carsDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Economy cars- The electric car rental market is experiencing significant growth due to increasing environmental consciousness and advancements in technology. Companies are investing in electric fleets to cater to the rising demand. Cost-effective batteries and government incentives are boosting the industry. Electric cars offer lower operating costs and reduced emissions, making them an attractive option for both businesses and individuals. The market is expected to continue expanding, driven by continuous innovation and consumer preference.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Electric Car Rental Market is experiencing significant growth due to the increasing popularity of electric vehicles (EVs) and the convenience of online rent-a-car services. Renting electric cars on a short-term basis, such as hourly or for a few days, is becoming increasingly common for travel trips. For longer periods, weekly or monthly rentals are also available, providing an affordable and eco-friendly alternative to traditional gasoline cars. Battery cars and hybrid cars are the primary offerings in this market, with incentives from governments and organizations promoting their use for environmental sustainability. Internet connectivity and in-car infotainment systems are essential features, allowing for seamless booking engines and online payment options. The rental service industry is adapting to the changing automotive landscape, addressing transparency challenges and expanding charging infrastructure to accommodate the growing demand for electric car rentals. The market’s future looks bright, with the potential to reduce carbon emissions and contribute to a more sustainable transportation sector.

Market Research Overview

The Electric Car Rental market is experiencing significant growth as more individuals and businesses seek sustainable transportation solutions. With the increasing awareness of environmental concerns and the availability of advanced technology, electric cars have become a popular choice for short-term vehicle rentals. These vehicles offer numerous benefits, including reduced emissions, lower operating costs, and the convenience of not having to refuel with traditional gasoline. Additionally, the rise of ride-sharing and car-sharing services has further boosted the demand for electric car rentals. The future of this market looks promising, as technological advancements continue to improve battery life and charging infrastructure becomes more widespread. Overall, the Electric Car Rental market is poised for continued growth and innovation in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeEconomy CarsLuxury CarsDistribution ChannelOfflineOnlineGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

Threekit Launches AI Sales Agent for Manufacturers

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The Threekit Sales Agent helps sellers who are overwhelmed with the complexity of selling manufactured products. It gets sellers to a proposal in seconds rather than hours and works with existing CPQ, B2B commerce, and ERP systems.

CHICAGO, June 18, 2026 /PRNewswire/ — Threekit today announced the Threekit Sales Agent, built on its new native AI platform. The Agent makes guided selling effortless by digesting a wide variety of customer requirements and recommending valid configured solutions instantly.

For 30 years, CPQ and ERP have been the backbone of how manufacturers quote, make and order products. But the modern seller expects something faster and more intuitive in the age of AI.

The Threekit Sales Agent is the first sales tool manufacturing sellers actually love.

Reps start with what they already have: notes, voice memos, photos, documents, RFPs, line drawings, competitive quotes. The Agent doesn’t wait for a complete spec. It reads the customer’s intent, works toward a valid quote, and takes the next step on its own – asking the rep what’s missing, flagging conflicts before they become errors, and proposing the next valid configuration the rep didn’t see.

When requirements change mid-deal, the Agent reasons through the impact and adjusts the proposal in place. No starting over. It catches a rule violation the rep would have shipped, spots an incompatible option and recommends the fix, and keeps the deal moving toward a quote it knows is valid. Threekit Sales Agent can be deployed across direct sales, channel sales, dealer networks, websites, and ecommerce.

“There’s a huge gap in the Guided Selling stage that sits in front of CPQ and B2B systems on the path to a quote,” said Matt Gorniak, CEO of Threekit. “There’s massive demand to use AI to make complex products easier to sell. We see it directly – revenue for our AI Sales Agent has grown more than 229% in the last year.”

Threekits AI platform built for enterprise trust, safety, reliability, and proof: more than 10M configuration-to-quote sessions monthly, a 99.8% SLA, ISO 27001 certification, and 150 enterprise customers. Threekit’s AI Sales agent has grown revenue 229% in the last year.

About Threekit

Threekit helps manufacturers make complex products easier to sell. Its AI Sales Agent reasons over product data, configuration logic, visual selling, governance, and enterprise integrations to drive a deal from customer request to valid, configured proposal on its own.

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CENTEGIX Launches The Safety Signal Podcast, Where Crisis Meets Connection

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New podcast hosted by CMO Robb Monkman and national school safety leader Ron Self debuts with Chief Development Officer Dr. Roderick Sams

ATLANTA, June 18, 2026 /PRNewswire/ — CENTEGIX, the leader in incident response and everyday safety solutions protecting more than 18 million people across 50 states, today announced the launch of The Safety Signal, a new podcast dedicated to the people, innovations, and conversations redefining what it means to feel safe at work.

Safety is earned in the moments most people never see. The Safety Signal brings you the people who live those moments, trading worst-case theory for what actually works.

Hosted by CENTEGIX Chief Marketing Officer, Robb Monkman, alongside co-host, Ron Self, a nationally recognized school safety leader, each episode bridges the gap between crisis and connection, bringing together educators, healthcare leaders, safety experts, and innovators to explore safety not just as a crisis response, but as a driver of culture, retention, trust, and organizational improvement.

“We are not just talking about technology,” said Monkman. “We are talking about the teacher who can focus on her students. The nurse who can focus on her patients. The leader who can focus on their people. That is what safety looks like when it actually works.”

Debut Episode: Safety as a School Improvement Issue

The first episode of The Safety Signal is available now, featuring CENTEGIX Chief Development Officer Dr. Roderick Sams, known to colleagues and partners as Rocky. A former award-winning principal, teacher, and coach, Dr. Sams brings a career built in classrooms and school buildings to a conversation about why safety sits at the center of every school improvement challenge facing leaders today.

Topics covered in the debut episode include the real cost of teacher turnover, the downstream impact of unsafe environments on enrollment and community trust, and what school leaders wish they had known sooner.

“Success is determined by where you end, not where you start,” said Dr. Sams. “Safe schools give every student and every educator a fighting chance at that.”

Where to Listen

The Safety Signal is available now at:

Website: https://www.centegix.com/resources/the-safety-signal-podcast
YouTube: https://www.youtube.com/watch?v=GJZvrdMqaTg
Spotify: Available now
Apple Podcasts: Available now
Amazon Music: Available now

Available wherever you get your podcasts.

About CENTEGIX

CENTEGIX is the leader in rapid incident response and everyday safety solutions, protecting more than 18 million people across 18,000+ locations in 50 states. The CENTEGIX Safety Platform, including CrisisAlert wearable panic buttons, Safety Blueprint critical incident mapping, Visitor Management, and Reunification, gives organizations the tools to plan for and respond to any emergency, from the everyday to the extreme. CENTEGIX serves K-12 and higher education, healthcare, government, commercial, and public safety organizations nationwide. CENTEGIX is backed by Charlesbank Capital Partners and Gauge Capital.

For more information visit www.centegix.com

CONTACT: marketing@centegix.com

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ICON International Launches Content and Entertainment Solution, Establishing New Pathways for Brand-Funded Film and Television

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Industry Veteran Aaron Tabas to Lead Offering with First Wave of Partnerships Including Imagine Entertainment, Pro Shop and more

STAMFORD, Conn., June 18, 2026 /PRNewswire/ — ICON International, the media-backed financial solutions company, today announced the official launch of its Content and Entertainment solution, a new practice dedicated to solving the industry’s most persistent challenges in content funding, production, and distribution. ICON will debut the offering this month at the Cannes Lions International Festival of Creativity (June 22–26), where its executives will meet with brands, agencies, and producers to discuss how the new practice is rewriting the economics of brand-funded entertainment.

The new offering, led by industry veteran Aaron Tabas, has already established strategic partnerships with leading talent agencies, creators, and distributors. Leveraging ICON’s core strength as a media and financial solutions partner, the new offering gives brands, creators, and distributors access to innovative, flexible financing structures that make content initiatives more streamlined, cost-effective, and impactful.

“ICON has always sat at the intersection of media, content, and advertising,” said Reid Steinberg, EVP, Media Director at ICON International. “This new offering formalizes what we have long done best—connecting brands with culture through financial expertise and strategic partnerships.”

Three Core Solutions for Content Financing and Distribution
ICON’s Content and Entertainment solution offers partners three proprietary funding models:

Working Media Solution: ICON unlocks funding for a brand’s content initiatives by creating added value around its existing media investments.Media Trade Solution: ICON funds content projects on behalf of brands and distributors in exchange for future advertising inventory.Independent Financing: ICON serves as a traditional film and television financier, bringing its brand and distributor relationships and marketing expertise to the table alongside capital.

“Working with ICON has changed how we think about brand partnerships,” said Marc Gilbar, President of Brands, Partnerships & IP at Imagine Entertainment. “They came to the table not just with financing, but with a deep understanding of what it takes to make engaging content. ICON has given filmmakers and brands a new roadmap to making their most ambitious projects possible.”

Projects at Launch
From documentary film to scripted prestige television to indie features and viral social content, ICON has already assembled a diverse portfolio of projects that demonstrates the full range of what its funding and distribution models can offer clients. Across each, the throughline is bringing together best-in-class creative partners and giving them the resources to tell stories at the highest level.

Amelia, Feature Documentary in Partnership with CNN Films, Imagine Documentaries, Storyville Films and produced in association with ICON and Sandbox Films: ICON is a core funding partner on Amelia, a feature documentary billed as the definitive portrait of Amelia Earhart. Produced by CNN Films, Imagine Documentaries and Storyville Films, directed by Academy Award Nominated and Emmy-Winning Julie Cohen and Betsy West and set to air on CNN, the project represents the kind of premium, culturally significant content ICON was built to support. The partnership was brokered by CAA Media and Entertainment Partnerships and signals the caliber of relationships the solution brings to the table.The Artist, Limited Series in Partnership with The Network: ICON’s reach extends to scripted prestige television with The Artist, the Gilded Age murder mystery limited series from creator Aram Rappaport featuring an ensemble cast that includes Mandy Patinkin, Janet McTeer, Patti LuPone, Hank Azaria, and Zachary Quinto. ICON funded the program for The Network, the free, ad-supported streaming platform demonstrating the model’s ability to support not only individual titles but the platforms that distribute them. The Artist premiered on The Network over the 2025 holiday season and is streaming now at thenetwork.stream.Social Content Series, in Partnership with Dude Wipes and Pro Shop: ICON executed a social content series for DUDE Wipes in partnership with Pro Shop, a leading golf media company. The series, executed by Skratch Golf with its unique media rights, featured the PGA TOUR’s best players navigating pressure-packed on-course situations during one of the year’s most attended events, the Waste Management Phoenix Open. The program generated more than 3 million views across Skratch Golf’s media channels and exceeded engagement benchmarks.dAte, an Independent Feature Film: ICON is also putting its Independent Financing model to work on dAte, an indie horror film currently in production with Squid Farm Productions. The project showcases ICON’s role as a traditional film financier pairing capital with the brand relationships and marketing expertise that independent filmmakers rarely find in a funding partner.

“What we’ve built is a fundamentally different way for brands and creators to work together,” said Aaron Tabas, who leads ICON’s Content and Entertainment solution. “The projects we’re bringing to Cannes reflect what’s possible when you remove the financial friction from the creative process. We’ve partnered with some of the best producers, agencies, and distributors in the business, and we’re just getting started.”

ICON at Cannes Lions
ICON’s Content and Entertainment team, led by Tabas, will be on the ground at the Cannes Lions International Festival of Creativity, June 22–26, meeting with brands, agencies, producers, and distributors to discuss partnership and financing opportunities.

About ICON International
ICON International is a media-backed financial solutions partner that transforms underutilized resources into measurable growth. With the trust of over 350 organizations, ICON combines strategic know-how, creativity, financial expertise, and unmatched media partnerships to create enterprise value for its clients. For more information, visit www.iconinternational.com.

Media Contact: iconinternational@jainepr.com

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