According to a new market research report Car Rental Market accounted to hit the USD 16.87 billion market value in 2023 and expected to witness 14% CAGR during 2019 to 2023. Global Car Rental Market Analysis From 2019 to 2023 by Type (Local, Outstation, Airport, Others), Mode of Booking (Online, Offline), Application (Business, Non-Business), Vehicle Type (Sedan, SUV, MUV, Luxuries, Others), and Region. Car Rental Industry Report published by Market Research Future provides comprehensive information on Global Car Rental Market key players, share, Sales, revenue, industry size in terms of volume.
Key Companies Covered:
Enterprise Holdings, Inc. (US), Avis Budget Group (US), The Hertz Corporation (US), Europcar (France), Sixt SE (Germany), Localiza (Brazil), Al-Futtaim Vehicle Rentals Company LLC (Qatar), Eco Rent a Car (India), Bandago Van Rental (US), and Capps Truck & Van Rental (US).
Free Sample Copy of Car Rental Market Research Report Global Forecast to 2023 available at: https://www.marketresearchfuture.com/sample_request/6409
Car Rental Industry Insight:
Car rental is a service provided through online and offline platforms that involves renting out automobiles. The companies commonly offer service for a few hours to a few months. Worldwide car rental market has seen notable development over the years. The market is likely to grow at 14% CAGR within 2018 to 2023. The expanding purchasing power of the consumers owing to the intensifying economy of the regions is estimated to propel the global car rental market to a large extent.
The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
The rise in purchasing power of the consumers due to the growing economy of the regions will drive the global car rental market. Increase in per capita disposable income of the consumers and rapid growing urbanization will further enhance the car rental market in the global aspects. Massive increase in the industrialization and growing population will make it difficult to drive own vehicle on the road. However, continuous fluctuation in the crude oil price and the need for consistent customer service satisfaction are the major challenges for the companies. High competition in the global market will restrict the entry of new players in the car rental market.
Car Rental Market Segment Analysis:
As per the reports published by Market Research Future, the global car rental market has been segmented based on mode of booking, type, vehicle type, region, and application.
By Mode of Booking:
By Vehicle Type:
The global Car Rental Market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
North America is estimated to hold the highest revenue market share in the base year; expected to dominate during the forecast period followed by Europe and Asia-Pacific. North America is expected to hold the highest market share in terms of value owing to increased business and nonbusiness trips. Increase in the number of international travelers in the US and Canada will further enhance the demand for car rental in North America.
In Europe, favorable government policies and consumer awareness will influence the demand for car rental. In Asia-Pacific, the market for car rental will grow at the highest CAGR owing to the increased population and growing average disposable income.
Asia-Pacific represents a potential market for car rental which can be attributed to the increasing disposable income of the population.
List of Tables:
TABLE 1 MARKET SYNOPSIS
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 MACRO INDICATORS INFLUENCING THE GLOBAL CAR RENTAL MARKET FOR TOP FIVE COUNTRIES
TABLE 4 IMPORT ANALYSIS OF CAR RENTALS, 2013-2017 (UNITS)
TABLE 5 EXPORT ANALYSIS OF CAR RENTALS, 2013-2017 (UNITS)
TABLE 6 PROPORTION OF MANUFACTURING COST STRUCTURE
TABLE 7 LABOR COST ANALYSIS
List of Figures:
FIGURE 1 GLOBAL CAR RENTAL MARKET: MARKET STRUCTURE 17
FIGURE 2 RESEARCH PROCESS OF MRFR 20
FIGURE 3 TOP-DOWN & BOTTOM-UP APPROACHES 23
FIGURE 4 DROC ANALYSIS OF GLOBAL CAR RENTAL MARKET 25
FIGURE 5 INTERNATIONAL TOURIST ARRIVALS, 2016 VS 2017 (MILLION) 26
FIGURE 6 DRIVERS IMPACT ANALYSIS: GLOBAL CAR RENTAL MARKET 27
FIGURE 7 RESTRAINTS IMPACT ANALYSIS: GLOBAL CAR RENTAL MARKET 28
FIGURE 8 SUPPLY CHAIN: GLOBAL CAR RENTAL MARKET 31
FIGURE 9 PORTERS FIVE FORCES MODEL: GLOBAL CAR RENTAL MARKET 32
FIGURE 10 MARKETING CHANNEL OF CAR RENTAL 40
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