Our Analysts forecast the Global Car Rental market to grow at a CAGR of 13.8% over the period.
The global car rental market is driven by the growing number of inbound and domestic travelers. The increasing number of air travelers is also positively impacting the growth of this market. Travelers across the globe are demanding high quality and reliable travel services for their tours. Leading car rental service providers are offering quality services and promoting their brands at airports and this is helping customers to adopt their services. Players in the market are concentrating on broadening their fleet size by including technical gadgets. Gadgets such as GPS and music systems are being used increasingly for profitability. This is expected to intensify the competition among players in the years to come.
Car Rental market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
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Top Companies Profiled in this Report includes, Avis Budget Group, Inc., Sixt Rent a Car, Enterprise Rent a Car, The Hertz Corporation, EuropCar, Al-Futtaim Group, Eco Rent a Car, Localiza Rent a Car, and Carzonrent.
Classified by category, this market is segmented into local usage, airport transport, outstation, and others. In this segmentation, the Airport Transport segment dominated the global car rental market which accounted for more than 38.0% of the total market share. The car rental agencies also offer different mileage rates, which makes long trips very cost-effective for the consumers. Moreover, the customers also get profit in terms of reward points by using car rental services because of their reduced total cost of mobility.
The car rental agencies are introducing numerous innovative services to raise their penetration in semi-urban and rural areas, which, in turn, is projected to boost the growth of the car rental market during the forecast period. While in the car rental industry, rental companies designate a mileage limit and if the customer exceeds the limit, must pay a penalty defined by the rental agency, this factor may restrain the market growth.
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Various factors are responsible behind the market’s growth trail, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Car Rental market. It also gauges the bargaining power of suppliers and buyers, threat to the new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the market’s trajectory between forecast periods.
Divided by region, this market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is expected to endure as the largest region for car rental market due to its high-quality road infrastructure and limited railways. Increasing investment opportunities in different industries, also gain in per capita income, and increasing corporate travel will drive car rental demand in this region. Moreover, the growing number of global tourists visiting this region has contributed to the tremendous growth of the market. An increase in business activities and growing awareness about carpool are anticipated drive revenues in this region during the forecast period. Global Car Rental Market is expected to flourish at a CAGR of 13.8% during the forecast period.
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Table of Contents
Global Car Rental Market Research Report
Chapter 1 Car Rental Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Car Rental Market Forecast