Europe Vehicle Subscription Market: Industry Analysis and Forecast (2024-2030) Statistics, Dynamics, Segmentation

  • Europe Vehicle Subscription Market was valued at USD 2.23 Billion in 2023. Europe Vehicle Subscription Market size is estimated to grow at a CAGR of 17% over the forecast period.

  • Format : PDF | Report ID : SMR_1334

Europe Vehicle Subscription Market Definition:

Customers can subscribe to vehicles on a recurring basis to purchase or lease a vehicle. Some subscriptions include insurance and maintenance; others allow subscribers to switch between vehicles during their subscription term. According to industry observers, vehicle subscriptions are an alternative to purchasing or leasing a vehicle.  


Further, the Vehicle Subscription market is segmented by Vehicle type, Subscription type, Service provider, End-User, and geography. Based on Vehicle type, the Vehicle Subscription market is segmented under IC Powered Vehicle and Electric Vehicle. Based on the Subscription type, the Vehicle Subscription market is segmented under 1 to 6 months, 6 to 12 months, and more than 12 months. Based on Service provider, the Vehicle Subscription market is segmented under OEMs, Mobility, and Independent. Based on End-User, the Vehicle Subscription market is segmented under Business and Private. By geography, the market covers the major countries in Europe i.e., Italy, Germany, United Kingdom, Russia, France and Rest of Europe For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).


Europe Vehicle Subscription Market


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Europe Vehicle Subscription Market Dynamics:


As vehicle subscriptions have been rapidly increasing in importance over the past few years, driven largely by the consumer goods industry trend toward subscriptions and the expectations of generations Y and Z, six million new vehicle subscriptions could be sold in the EU-5 by 2027. Active contracts and active subscriptions also generate a multi-billion Euro market. The forecasted success of this business model is based on shifting customer demands. The need to own a car is changing to a need for mobility, and the willingness to sign long-term contracts is being replaced by the desire for flexible and usage-based contracts.


However, the high carbon footprint of the automotive sector will force governments to take strict measures to control emission levels, which may reduce the number of subscription services available. Moreover, the prevalent leasing, rental, and sharing models will hamper the growth of the Europe subscription market.  


The sale and advertising of vehicle subscriptions are almost exclusively conducted digitally. This makes the location of the provider and customer less significant, making brick-and-mortar showrooms almost irrelevant. This significantly reduces the entry barriers for new competitors. This also presents a significant opportunity for the key competitors to enter a market dominated by indirect sales via physical dealers for decades.  Volvo is the only brand to have launched a subscription model in the United Kingdom. The Swedish brand expects 20% of its revenue to come from subscriptions by 2022. Subscription models are paving the way for opportunities across the European region.


Europe Vehicle Subscription Market COVID-19 Insights:


Due to low demand for vehicle subscriptions, COVID-19 has negatively impacted the market. Mercedes-Benz Group AG, Volkswagen AG, Hertz Europe Holdings, Inc., TOYOTA MOTOR CORPORATION, and other companies in Europe face difficulties in providing subscription services. Further, the limited supply of semiconductor chips and gadgets has had a significant impact on the supply of vehicles on the market


Europe Vehicle Subscription Market Segment Analysis:


By Vehicle Type, the Vehicle Subscription Market is segmented into IC Powered and Electric. The Electric vehicle type segment held the highest market share in 2023 and it will boost the market growth during the forecast period. The EU plans to cut emissions 100 percent by 2030, effectively banning all petrol, gas, and hybrid vehicles. The effective ban would be an effective tool for cleaning up air pollution since passenger cars produce about 12 percent of the total CO2 emissions in the EU. It would also be a big boost to all-electric vehicles, and the companies that have committed the most money to develop them, such as Volkswagen, which plans to have half of its total sales be electric by 2030.


According to the EU's proposal, it wants countries to build public charging stations not more than 60 kilometers apart on major roads by 2025. The EU expects to have 3.5 million new charging stations by 2030 and 16.3 million by 2050.


Europe Vehicle Subscription Market


By End-User, the Vehicle Subscription Market is segmented into Business and Private. The Business segment held the highest market share in 2023. Because of its key characteristics, such as no traditional financing, no long-term maintenance issues, 24x7 roadside assistance, and car repair capabilities, subscription vehicles are gaining in popularity as an alternative to traditional alternatives such as car ownership and leasing that incur significant costs.


Europe Vehicle Subscription Market Key Players Insights:


The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide Vehicle Type portfolio, and have a Europe presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.


The market's major companies have a significant impact because most of them have extensive Europe networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the Europe market, key players in the market, particularly in Europe and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.


The objective of the report is to present a comprehensive analysis of the Europe Vehicle Subscription market to the stakeholders in the industry. The report provides trends that are most dominant in the Europe Vehicle Subscription market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Europe Vehicle Subscription Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.


The qualitative and quantitative data provided in the Europe Vehicle Subscription market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Europe Vehicle Subscription market. The report studies factors such as company size, market share, market growth, revenue, Vehicle Type, and profits of the key players in the Europe Vehicle Subscription market.


The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their Vehicle Type quality is in the Europe Vehicle Subscription market. The report also analyses if the Europe Vehicle Subscription market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.


The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Europe Vehicle Subscription market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Vehicle Subscription market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Vehicle Subscription market is aided by legal factors.


Europe Vehicle Subscription Market Scope:


Europe Vehicle Subscription Market

Market Size in 2023

USD 2.23 Bn.

Market Size in 2030

USD 6.70 Bn.

CAGR (2024-2030)

17 %

Historic Data


Base Year


Forecast Period


Segment Scope

By   Vehicle Type

  • IC Powered
  • Electric

By End User

  • Business
  • Private

Country Scope

and Rest of Europe



































Europe Vehicle Subscription Market Key Players: 

Frequently Asked Questions

The segments covered in the Vehicle Subscription Market report are based on Vehicle Type, End-User, and Subscription Period.

  1. Scope of the Report
  2. Research Methodology
    • Research Process
    • Vehicle Subscription Market: Target Audience
    • Vehicle Subscription Market: Primary Research (As per Client Requirement)
    • Vehicle Subscription Market: Secondary Research
  3. Executive Summary
  4. Competitive Landscape
    • Stellar Competition matrix
      • Europe Stellar Competition Matrix
    • Key Players Benchmarking: - by Vehicle, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
    • Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
    • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Challenges
    • PESTLE Analysis
    • PORTERS Five Force Analysis
    • Value Chain Analysis
  5. Europe Vehicle Subscription Market Segmentation
    • Europe Vehicle Subscription Market, by Vehicle Type (2023-2030)
      • IC Powered
      • Electric
    • Europe Vehicle Subscription Market, by Subscription Period (2023-2030)
      • 1 to 6 months
      • 6 to 12 months
      • More than 12 months
    • Europe Vehicle Subscription Market, by Service Provider (2023-2030)
      • OEM
      • Mobility
      • Independent
    • Europe Vehicle Subscription Market, by End User (2023-2030)
      • Business
      • Private  
    • Europe Vehicle Subscription Market, by Country (2023-2030)
      • Italy
      • Germany
      • United Kingdom
      • France
      • Spain
      • Rest of Europe
  6. Company Profiles
    • Key Players
      • Jaguar Land Rover
        • Company Overview
        • Vehicle Portfolio
        • Financial Overview
        • Business Strategy
        • Key Developments
      • Volvo
      • MyCarDirect
      • Cazoo
      • Wagonex
      • Cocoon
      • Elmo
      • Onto
      • Sixt+
      • Hertz 28+
  7. Key Findings
  8. Recommendations

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