The growth of car rental market can be attributed to the expansion and progression of the travel and tourism industry worldwide. Growing GDP, rising income levels of individuals and an increasing number of domestic and foreign tourists are some of the other drivers of the car rental market. Moreover, increasing traveling expenditure, raising awareness regarding car rental service, shifting preferences of people towards leisure and recreation spending along with the rising population of high net worth individual (HNI) are also expected to trigger the market growth.
As per the latest report added by Value Market Research, the Global Car Rental Market was valued USD 79.1 BN (by revenue) in 2018 and is anticipated to reach USD 186.1 BN by 2025 with a CAGR of 13%.
ECONOMY CARS DOMINATED THE OVERALL MARKET
Economy cars dominated the segment owing to people opting for the inter-city transport or for a shorter time span are usually preferred economy cars over other vehicle types. Also, they are comparatively cheaper and offer high mileage over others, therefore the growth of this segment is completely driven by the cost-effectiveness of these cars.
AIR TRANSPORT SEGMENT EMERGED AS THE HIGHEST REVENUE GENERATING SEGMENT
Air transport is dominating the segment owing to the rising number of air travelers coupled with the increase in the number of airports across the globe. Also, rising expenditure on the air travel industry in order to enhance the experience of passengers is further propelling the segment growth.
NORTH AMERICA REGION IS RULING THE OVERALL MARKET OF CAR RENTAL
North America has emerged as the predominant region owing to the rising number of domestic and international tourist coupled with the people are spending more on leisure and business trips in this region is fueling market growth. Also, the rising number of air travelers in this region is further augmenting the regional market growth.
PLAYERS INVOLVED IN THE MARKET
Avis Budget Group, Enterprise Rent-a-car, and Hertz among others.
As per this study the Global Car Rental Market was valued USD 79.1 BN (by revenue) in 2018 and is anticipated to reach USD 186.1 BN by 2025 with a CAGR of 13%.
Car rental refers to hiring the car facility mostly from few hours to few weeks. Basically, it offers temporary vehicle such as car, trucks, and vans to serve the purpose of traveling and transporting. Renting a car is usually offered from the local branches of the provider or near airports through online reservation. The rent mainly includes base price, distance charges, and other related surcharges.
Growing international tourism along with increasing demand for reliable local transportation system is driving the market growth. Various attractive schemes and discounts offered by the providers are further contributing in the market growth. Also, the rise in disposable income, growing awareness regarding car hire, increasing usage of smartphones and Internet within the potential population is again boosting the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of car rental.
The broad car rental market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Luxury Cars
- Executive Cars
- Economy Cars
- Airport Transport
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for car rental in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Car Rental Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the car rental market include Avis Budget Group, Enterprise Rent-a-car, and Hertz among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.
2. EXECUTIVE SUMMARY
- Introduction To Car Rental
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Car Rental Market: Snapshot
4. CAR RENTAL MARKET ANALYSIS BY PRODUCT
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. CAR RENTAL MARKET ANALYSIS BY APPLICATION
- Market In Luxury Cars
- Market In Executive Cars
- Market In Economy Cars
- Market In SUV
- Market In MUV
6. CAR RENTAL MARKET ANALYSIS BY GEOGRAPHY
- Market In Airport Transport
- Market In Outstation
- Market In Others
7. COMPETITIVE LANDSCAPE OF THE CAR RENTAL COMPANIES
- North America (NA)
- North America Market Estimates
- North America Market Estimates By Country
- United States (U.S.) Market Estimates By Segments
- Rest Of North America Market Estimates By Segments
- Europe (EU)
- Europe Market Estimates
- Europe Market Estimates By Country
- United Kingdom (UK) Market Estimates By Segments
- Germany Market Estimates By Segments
- France Market Estimates By Segments
- Rest Of Europe Market Estimates By Segments
- Asia Pacific (APAC)
- Asia Pacific Market Estimates
- Asia Pacific Market Estimates By Country
- China Market Estimates By Segments
- Japan Market Estimates By Segments
- India Market Estimates By Segments
- Rest Of Asia Pacific Market Estimates By Segments
- Latin America (LA)
- Latin America Market Estimates
- Latin America Market Estimates By Country
- Brazil Market Estimates By Segments
- Rest Of Latin America Market Estimates By Segments
- Middle East And Africa (MEA)
- Middle East And Africa Market Estimates
- Middle East And Africa Market Estimates By Country
- Middle East Market Estimates By Segments
- Africa Market Estimates By Segments
8. COMPANY PROFILES OF THE CAR RENTAL INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
- Market Competition
- Mergers And Acquisitions
- New Product Launches
- Other Developments
* Tentative TOC
LIST OF TABLES
- Avis Budget Group
- Enterprise Rent-a-car
Table 1. Market Highlights Of Car Rental
Table 2. Global Car Rental Market By Product
Table 3. Global Car Rental Market By Application
Table 4. Global Car Rental Market By Geography
Table 5. North America Car Rental Market
Table 6. Europe Car Rental Market
Table 7. Asia Pacific Car Rental Market
Table 8. Latin America Car Rental Market
Table 9. Middle East And Africa Car Rental Market
Table 10. Partnership/Collaboration/Agreements
Table 11. Mergers And Acquisitions
Table 12. New Product Development
Table 13. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Car Rental Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Car Rental
Fig. 5. Porter’s Five Forces Analysis
Fig. 6. Value Chain Analysis
Fig. 7. Global Car Rental Market By Product
Fig. 8. Global Car Rental Market By Application
Fig. 9. Global Car Rental Market By Geography
Fig. 10. North America Car Rental Market
Fig. 11. Europe Car Rental Market
Fig. 12. Asia Pacific Car Rental Market
Fig. 13. Latin America Car Rental Market
Fig. 14. Middle East And Africa Car Rental Market
Fig. 15. Market Share Of Car Rental Companies
Fig. 16. Recent Developments In Car Rental Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.