Global Car Rental Market is Rising Exponentially at Rate of 7.4% During the Forecast Period of 2020 to 2027

Car Rental Market is expected to rise at annual rate 7.4% in the forecast period of 2020 to 2027 due to the increase in automotive production across the globe and with consumer preference over luxury and hybrid vehicles with advanced technology.

On the other hand, low rates of interest penetration in the developing regions and the rising prices of petrol and diesel and increasing market for ride sharing, micro mobility, and peer-to-peer car sharing services are expected to obstruct the market growth in the above mentioned forecast period.

Car Rental Market Scenario

According to Data Bridge Market Research, the markets for car rental is accelerating because of the growth in the population and pollution levels, manufactures and customers rely on car rent schemes as they are cost efficient for example the leasing cars from their owners for a period of three years and then put these cars through app based booking. Additionally, upsurge in the air traffic and the growth in online trend of car booking as car rentals are the preferred options for travelers as they are fastest mode of transportation positively affect the car rental market.

Furthermore, now the question is which are the other regions that car rental market targeting? Data Bridge Market Research has estimated a large growth in North America because of the maximum share in the global car rental market in terms of income and is expected to display vast amount of growth rate throughout the forecast period.

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Car Rental Market Scope

Car rental market is segmented on the basis of countries into the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

  • All country based analysis of car rental market is further analyzed based on maximum granularity into further segmentation. Car rental market is segmented according to the basis of type, application, booking, end-use, fare price and rental length. Based on the type, the car rental market is segmented into luxury cars, executive cars, economy cars, SUVs and MUVs. Based on the application, the car rental market is segmented into the car rental market is segmented into offline booking and online booking. Based on the booking, the car rental market is segmented into offline booking and online booking. Based on the end-use, the car rental market is segmented into self-driver and chauffeur driven. Based on the fare price, the car rental market is segmented into economy/budget cars, luxury/premium cars. Based on the rental length, the car rental market is segmented into short term and long term.
  • 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. The car rental market is generally organized with numerous local branches of car rental agencies, and these agencies are primarily located near airports, busy city areas and allow online as well as offline reservations.

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Key Pointers Covered in the Car Rental Market Industry Trends and Forecast to 2027

•             Market Size

•             Market New Sales Volumes

•             Market Replacement Sales Volumes

•             Market Installed Base

•             Market by Brands

•             Market Procedure Volumes

•             Market Product Price Analysis

•             Market Cost of Care Analysis

•             Market Shares in Different Regions

•             Recent Developments for Market Competitors

•             Market Upcoming Applications

•             Market Innovators Study

Key Market Competitors Covered in the Report

  • Avis budget group
  • SIXT
  • Enterprise Holdings, Inc
  • Europcar
  • Localiza
  • The Hertz Corporation
  • Carzonrent India pvt ltd
  • Eco Rent a Car
  • Advantage OPCO, LLC
  • Shenzhen Topone Car Rental Co. Ltd
  • Enterprise Holdings Inc.
  • Bettercar Rental
  • National Car Rental

Above are the key players covered in the report, to know about more and exhaustive list of car rental market companies’ contact us,

Research Methodology of Car Rental Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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