Increasing Population of Smartphone Users to Drive Growth
With the emergence of latest technologies, such as improved GPS tracking and high-speed internet, most players in the car rental market are offering smartphone-based applications to their customers. This strategy helps them effectively acquire new customers and retain old ones. The increasing usage of smartphones worldwide, coupled with their high penetration in developing countries owing to reducing prices is anticipated to drive the global car rental market growth.
For instance, according to a report published by the Indian Cellular and Electronics Association and KPMG, India will register around 820 million smartphone users by 2022. In addition, the increasing demand for car rentals from corporate travelers is projected to further strengthen the growth. However, increasing fuel prices and low penetration of alternative vehicles (such as EVs) may hinder the growth.
Medium and heavy-duty truck steering system market Promising Growth Opportunities over 2018-2026
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Global Electric Trucks Professional Size, Share, Value, and Competitive Landscape 2020
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United States Electric Truck Market Report 2020: Industry Analysis and Growth Forecast to 2030 - Increasing Adoption in Logistics Applications
March 10, 2021 06:38 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The U.S. electric truck market is expected to generate a revenue of $15,084.3 by 2030, increasing from $211.5 million in 2019, and the market is expected to witness robust growth of 51.6% CAGR during the forecast period (2020-2030).
The market is growing due to the increasing government support for the deployment of electric trucks in the country and the falling process of battery packs. In addition to this, electric trucks are cheaper to maintain and operate as compared to traditional diesel trucks.
Europe Heavy, Medium, and Light Duty Trucks Life Cycle and Total Cost of Ownership (TCO) Analysis 2021 - Lower Total Cost of Ownership to Expedite Adoption of Alternate Powertrains
March 09, 2021 07:23 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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During the 15-year lifetime of a truck, the total cost of ownership is lowest for battery-electric trucks, followed by natural gas and diesel powertrains across light, medium, and heavy-duty segments. As the truck gets older, maintenance cost increases with a decrease in mileage, resulting in increasing total cost of ownership (TCO) per mile.
Miles travelled is a big factor for battery-electric trucks to achieve TCO parity with diesel and natural gas trucks, with higher miles travelled achieving TCO parity faster. Battery electric also depreciate faster than diesel and natural gas trucks, however, during the lifetime, with a