Press release
Comprehensive Vehicle Subscription Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
How Are the key drivers contributing to the expansion of the vehicle subscription market?The rise in electric vehicle sales is predicted to boost the expansion of the vehicle subscription market in the future. Electric vehicles, powered by a battery-driven electric motor that can be charged from an outside source, offer a revised model of traditional car leasing known as electric car subscription. Acquiring an electric vehicle tends to be costly, and its long-term maintenance escalates these costs further. However, adopting a subscription model enables users to relish the experience of driving an electric car while bypassing many associated costs and challenges. To illustrate, the U.S. Energy Information Administration, a governmental agency, reported that the proportion of Battery Electric Vehicles (BEVs) in new light-duty vehicle sales hit 17.7% in the third quarter of 2023. So far this year, BEVs have made up 16.0% of all new vehicle sales, a considerable rise from 12.5% in 2022 and just 9.0% in 2021. Thus, the increasing prevalence of electric vehicle sales continues to fuel the growth trajectory of the vehicle subscription market.
https://www.thebusinessresearchcompany.com/report/vehicle-subscription-global-market-report
What growth opportunities are expected to drive the vehicle subscription market's CAGR through 2034?
The car subscription market has seen substantial growth over recent years. Projected to expand from a market cap of $6.61 billion in 2024 to $8.29 billion in 2025, indicating a compound annual growth rate (CAGR) of 25.3%. This surge during the historical period can be associated with alterations in consumer transportation choices, the trend towards urbanization, variety in vehicle fleets, digital advancements in the auto industry, and the consumer's preference for a seamless experience.
It is projected that significant positive shift will occur in the vehicle subscription market size in the coming years, expanding to $19.68 billion in 2029 with a compound annual growth rate (CAGR) of 24.1%. Factors contributing to this anticipated increase include the rise of electric and autonomous vehicles, increasing sustainability and environmental issues, the adoption of mobility-as-a-service, commercial fleet subscription models, the use of data analytics and predictive modeling, and regulatory backing for mobility innovations. Key upcoming trends include the growth of subscription models beyond luxury cars, heightened use of digital platforms, the launch of tiered subscription plans, emphasis on flexibility and convenience, collaborations and partnerships, and subscription amenities for electric vehicles.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9529&type=smp
What are the emerging trends shaping the future of the vehicle subscription market?
Advances in technology is a significant trend that is gaining momentum in the vehicle subscription market. Major players in this market are prioritizing the rollout of novel technologies to fortify their market status. For instance, in June 2022, Santander Consumer Finance, a financial services firm based in Spain, unveiled Ulity, a brand-new technology platform designed for vehicle subscription-based services for businesses. This revolutionary white-label technology platform is catered towards developing vehicle subscription-based solutions for the mobility service sector. By utilizing its profound industry knowledge and expertise, Santander Consumer Finance has developed its proprietary SaaS technology, making it available for different business entities and organizations. This allows these organizations to bypass the expenses of creating a unique solution, facilitate their entry into vehicle subscription services, and penetrate novel markets.
Which growth-oriented segments of the vehicle subscription market are leading the industry's development?
The vehicle subscription market covered in this report is segmented -
1) By Vehicle Type: IC Powered Vehicle, Electric Vehicle
2) By Subscription: Single Brand, Multi Brand
3) By Service Provider: OEM Or Captives, Mobility Providers, Technology Companies
4) By End Use: Business, Private
Subsegments:
1) By IC Powered Vehicle: Sedan, SUV, Hatchback, Pickup Truck, Luxury Car
2) By Electric Vehicle: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9529
What regions are leading the charge in the vehicle subscription market?
North America was the largest region in the vehicle subscription market in 2024. Asia-Pacific is expected to be the fastest-growing region in the vehicle subscription market report during the forecast period. The regions covered in the vehicle subscription market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the vehicle subscription market?
Major companies operating in the vehicle subscription market include Daimler AG, Drover Limited, Facedrive Inc., Open Road Auto Group LLC, Primemover Mobility Technologies Private Limited, The Hertz Corporation, Dr. Ing. h.c. F. Porsche AG, Volvo Car Corporation, Toyota Motor Corporation, Clutch Technologies LLC, General Motors Company, FreshCar Inc., Drivemate Inc., LMP Motors Pvt. Ltd., Cluno GmbH, Sixt SE, Avis Budget Group Inc., Arval BNP Paribas, ORIX Corporation, Flexdrive Inc., Fair Financial Corp., BMW AG, Mercedes-Benz USA LLC, Audi of America Inc., Hyundai Motor America, Carbar Pty Ltd., CarNext, LeasePlan Corporation N.V.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=9529&type=smp
What Is Covered In The Vehicle Subscription Global Market Report?
• Market Size Forecast: Examine the vehicle subscription market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the vehicle subscription market for a structured understanding.
• Key Players Overview: Analyze major players in the vehicle subscription market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the vehicle subscription market.
• Segment Contributions: Evaluate how different segments drive overall growth in the vehicle subscription market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the vehicle subscription market.
• Industry Challenges: Identify potential risks and obstacles affecting the vehicle subscription market.
• Competitive Landscape: Review strategic developments in the vehicle subscription market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Comprehensive Vehicle Subscription Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034 here
News-ID: 3892478 • Views: …
More Releases from The Business Research Company

Top Market Shifts Transforming the Rainwater Harvesting Systems Market Landscape …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Rainwater Harvesting Systems Market Through 2025?
Over the past few years, there has been substantial growth in the market size of rainwater harvesting systems. The industry, which was valued at $1.94 billion in 2024, is predicted to rise to $2.07 billion by…

Live Concerts Fueling Surge In Percussion Instruments Market Growth: Transformat …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Percussion Instruments Industry Market Size Be by 2025?
Over the past few years, the market size of percussion instruments has examined a steady rise. With an increase from $1.44 billion in 2024 to $1.47 billion in 2025, it expects a Compound Annual Growth Rate (CAGR) of…

Emerging Trends to Drive Hydraulic Equipment Market Growth at 3.5% CAGR Through …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Hydraulic Equipment Market Size Growth Forecast: What to Expect by 2025?
The size of the hydraulic equipment market has consistently increased in the past few years. Projections show that it will rise from $45.21 billion in 2024 to $46.86 billion in 2025, recording a compound annual growth rate (CAGR)…

Emerging Trends to Reshape the Fishing Drones Market: Innovative Advancement In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Fishing Drones Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of fishing drones has seen a swift increase in the past few years. An expansion from $0.89 billion in 2024 to $0.99 billion in 2025, representing a compound annual growth rate (CAGR)…
More Releases for Vehicle
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025?
The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025.
To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245
Global truck platooning market is segmented…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the…
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.
Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122
Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),…