Deep Research reports: Leisure travelers accounted for 54% of the car rental market value in 2014 while business travelers represented a share of 34.8%. Car rentals made at non-airport locations accounted for the largest share of the total market value in 2014 closely trailed by airport locations. The car rental industry will continue to expand over the forecast period, driven by the rise in tourism flows and expenditure.
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The US was the leader in the car rental market in terms of both market value (US$30.7 billion in 2014 equivalent to 42.6% share) and fleet size (2 million rental cars). The US also had the highest utilization rate (81% in 2014), rental occasions and rental days. China was the fastest growing market in terms of market size (CAGR 22.42%) and fleet size (CAGR 18.47%) during the historic period. Switzerland topped the list in terms of average revenue per day (US$90.4 in 2014) while the Philippines was the fastest growing market (CAGR 6.32%). Portugal had the highest average rental length of 7.6 days in 2014.
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