Global Car Rental Market, By Type (Luxury Cars, Executive Cars, Economy Cars, SUVs, MUVs) Application (Local Usage, Airport Transport, Outstation and Others), Booking (Offline Booking and Online Booking), End-Use (Self-Driver and Chauffeur –Driven), Fare Price (Economy/Budget Cars, Luxury/Premium Cars), Rental Length (Short Term and Long Term), Country (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) Industry Trends and Forecast to 2027
Market Analysis and Insights: Global Car Rental Market
Car rental market is expected to reach USD 167.69 billion by 2027 witnessing the market growth at a rate of 7.4% in the forecast period of 2020 to 2027. The market has witness significant growth in the years to come due to the increase in automotive production across the globe and with consumer preference over luxury and hybrid vehicles with advanced technology.
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.
Growth in the population and pollution levels, car rental industry has experienced a drastic growth in the years as it has been the most prominent industry in fleet transportation. Manufactures and consumers rely on car rent schemes as they are cost effective such as leasing cars from their owners for a period of three years and then put these cars through app based booking. Increase in the air traffic and the growth in online trend of car booking as car rentals are the preferred options for travellers as they are fastest mode of transportation. As these advantages promoted growth in the car rental industry. Moreover, adoption of car rental management software will create the growth opportunity in the forecast period of 2020-2027.
Low rates of interest penetration in the developing regions will act as a restraint, and further challenge the growth of the in the car rental market forecast period mentioned above.
Car rental market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research car rental market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Car Rental Market Scope and Market Size
Car rental market is segmented on the basis of type, application, booking, end-use, fare price and rental length. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the car rental market is segmented into luxury cars, executive cars, economy cars, SUVs and MUVs
- On the basis of application, the car rental market is segmented into local usage, airport transport, outstation and others
- Based on booking, the car rental market is segmented into offline booking and online booking.
- Based on end-use, the car rental market is segmented into self-driver and chauffeur-driven
- Based on fare price, the car rental market is segmented into economy/budget cars, luxury/premium cars
- On the basis of rental length, the car rental market is segmented into short term and long term
Car Rental Market Country Level Analysis
Car rental market is analysed and market size, volume information is provided by country, type, application, booking, end-use, fare price and rental length as referenced above.
The countries covered in the car rental market report are 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).
North America is dominating the car rental market due to the highest share in the global car rental market in terms of revenue and is anticipated to exhibit huge growth rate during the forecast period.
The country section of the global car rental market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape Car Rental Market Share Analysis
Global car rental market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to car rental market.
The major players covered in the global car rental market report are 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, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.