Electric Car Rental Market to Hit $21.37 Billion by 2031 as CAGR Reaches 14.41%

1 articles · Updated · Yahoo Finance · Aug 20

$21.37 billion is the projected size of the electric car rental market by 2031, up from $10.90 billion in 2026 and $9.71 billion in 2025, according to Mordor Intelligence.
14.41% annual growth is being driven by rental fleet electrification, tighter automaker-rental partnerships and expanding airport fast-charging networks that cut vehicle turnaround times.
Battery electric vehicles still dominate rental fleet orders, while government zero-emission mandates and stricter emissions rules push operators away from internal-combustion cars.
Asia-Pacific is emerging as a key growth region on electrification policies and airport programs, while North America keeps expanding despite charging gaps and rising EV depreciation and repair costs.