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 2023-2029. “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.
Car Rental Market report offers sustainable forward looking growth programs to ensure business success which is imperative for organizations. The report is very helpful for making a correct decision regarding the market and achieving a great success. It classifies the global market size with respect to its value & volume by manufacturers, type, application, and region. The research study and research data covered in This market report makes This document a handy resource for managers, analysts, industry experts, and other key people get ready-to-access and self-analyzed study. The most exceptional Car Rental Market report also measures the existing development trends and patterns along with distribution and marketing channels.
A high-ranking Car Rental Market study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. With This report, not only an unskilled individual but also a professional can easily extrapolate the entire market within a few seconds. Here, market segmentation is carried out in detail based on various parameters that include applications, verticals, deployment model, end user, and geography. The winning Car Rental Market analysis document suggests that the market is supposed to witness growth during the forecast period due to growing demand at the end user level.
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Key Players Mentioned in the Car Rental Market Research Report:
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
Car Rental Market Dynamics
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 2023 to 2029. Also, improved customer and corporate information management and hassle-free internet booking applications will further escalate the growth of car rental market.
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Based on types, the Car Rental Market Segmentations
Type
Luxury Cars
Executive Cars
Economy Cars
SUVs
MUVs
Application
Local Usage
Airport Transport
Outstation
Others
Booking
Offline Booking
Online Booking
End-Use
Self-Driver
Chauffeur-Driven
Fare Price
Economy/Budget Cars
Luxury/Premium Cars
Rental Length
Short Term
Long Term
The universal Car Rental Market report has been generated by keeping in mind all the needs of the businesses for a successful business growth. Moreover, Market status at the global and regional level is provided through this Market report which helps to achieve business insights at the extensive marketplace. This information holds an immense significance to drive a business towards the success. Businesses are greatly depending on the different segments involved in the Market research report as it offers better insights to drive the business on the right track. Hence, an outstanding Car Rental Market report is a great source which implies a client-focused, leading edge, and trustworthy Market data.
Recent Developments
GoAir partnered with Eco Europcar in April’2021 to launch car rental services across 100 cities in India, including 25 airports. GoAir offer Chauffeur-driven cars from mid to luxury car segments through Eco Europcar.
Humax announced that it will supply the WTC Auto Rent RAiDEA mobility service platform in February’2021. The services are set to be supplied to customers in the Middle East by improving technology for a free-floating, and round trip one-way infrastructures specially designed for cars.
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Benefits:
- This research offers a comprehensive analysis of current trends, projections, and dynamics for the years, with the goal of assisting in the identification of current market opportunities.
- The individual market revenue of the major countries in each area is mapped.
- The research examines the Car Rental market circumstances on a regional and country-by-country basis.
- The Car Rental market’s major participants have been identified.
- To understand the competitive environment across geographies, this study assesses the competitive landscape and conducts a value chain analysis.
- An in-depth analysis of the Car Rental market’s segmentation within the market has been offered, which is predicted to aid in the current market opportunities.
Table of Contents
- Part 01: Executive Summary
- Part 02: Scope of the Car Rental Market Report
- Part 03: Global Car Rental Market Landscape
- Part 04: Global Car Rental Market Sizing
- Part 05: Global Car Rental Market Segmentation By Product
- Part 06: Five Forces Analysis
- Part 07: Customer Landscape
- Part 08: Geographic Landscape
- Part 09: Decision Framework
- Part 10: Drivers and Challenges
- Part 11: Market Trends
- Part 12: Vendor Landscape
- Part 13: Vendor Analysis
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