"The universal Car Rental Market report is a established source of information that presents a telescopic view of current market trends, situations, opportunities, and status. Leading players in the Car Rental Market are making strategic moves such as product launches, joint ventures, developments, mergers, and acquisitions, which impact the market and the Car Rental Market industry as a whole, affecting sales, import, export, revenue, and CAGR values. Analysis and estimations obtained through the massive information gathered in the world-class Car Rental Market document are extremely necessary for dominating the market or making a mark as a new emergent.
Car Rental Market research report studies production capacity, consumption, import and export for all major regions across the globe. The market study provides details on drivers and restraints for the Car Rental Market with the help of SWOT analysis, along with their impact on demand over the forecast period. The report is based on market type, organization size, availability on-premises, and end-users' organization type, available in areas such as North America, South America, Europe, Asia-Pacific, and the Middle East & Africa. The comprehensive Car Rental Market report is helpful in understanding the general conditions prevailing in the market, the marketing and pricing strategy of competitors.
The car rental service providers are being highly utilized in various products, such as insurance compensation policies, global positioning systems (GPS), Wi-Fi networks, damage repair, entertainment systems, for providing enhanced convenience to users.
Global Car Rental Market was valued at USD 102.34 billion in 2021 and is expected to reach USD 180.93 billion by 2029, registering a CAGR of 7.90% during the forecast period of 2022-2029. “Economy/Budget Cars” accounts for the largest towing capacity segment in the respective segment owing to high consumers’ preference for economy automobiles. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Explore Further Details about This Research Car Rental Market Report
https://www.databridgemarketresearch.com/reports/global-car-rental-market
Market Definition
Car rental or car hire agency is the services that rent automobiles at certain cost for short period of time. These services are by local branches which are generally located near busy areas or airports in the city, and has website to allow online reservations.
Report Scope and Market Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2022 to 2029 |
Base Year | 2021 |
Forecast Period | 2022 - 2029 |
Historic Years | 2020 (Customizable to 2019 - 2014) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Type (Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs) Application (Local Usage, Airport Transport, Outstation and Others), Booking (Offline Booking, Online Booking), End-Use (Self-Driver, Chauffeur –Driven), Fare Price (Economy/Budget Cars, Luxury/Premium Cars), Rental Length (Short Term and Long Term) |
Countries Covered | U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa |
Market Players Covered | Avis budget group (US), SIXT (Germany), Enterprise Holdings, Inc (US), Europcar (France), Localiza (Brazil), The Hertz Corporation (US), Carzonrent India pvt ltd (India), Eco Rent a Car (India), Advantage OPCO, LLC (US), Shenzhen Topone Car Rental Co. Ltd (China), Enterprise Holdings Inc. (US), Bettercar Rental (Dubai), and National Car Rental (US), among others |
Market Opportunities |
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This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increase in Leisure Trips
The rise in the number of people taking business and leisure trips across the globe acts as one of the major factor driving the growth of car rental market. The expansion of industries escalating the numbe of business trips and increased disposable income assist in the expansion of the market.
- Internet Penetration
The surge in internet penetration across developing as well as developed countries accelerate the market growth. Numerous companies are capturing a larger customer base with the assistance of dedicated mobile apps for the convenience of customers.
- Implementation of an Integrated Global Car
The increase in the implementation of an integrated global car rental system owing to the rising demand for reliable, high-quality and familiar travel services during their travel further influence the market. Some major key car rental operators are emphasizing on leveraging the trend to expand their brand and distribution platforms.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the car rental market.
Opportunities
Furthermore, impact of technological advancements extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, improved customer and corporate information management and hassle-free internet booking applications will further escalate the growth of car rental market.
Key points mentioned
- To analyze the market size of the Car Rental Market and infer the key trends from it.
- Industry Chain Suppliers of Car Rental Market with Contact Information
- To inspect the market based on product, market share and size of the product share.
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the Car Rental Market
- The report offers market share appraisals for regional and global Car Rental Market levels
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