The global car rental industry is expected to reach $99.6 billion by 2022

Trends, opportunities and forecast in this market to 2022 by location (On-Airport and Off-Airport), type of customer (Business, Leisure, and Others), vehicle (Luxury Cars, Executive Cars, Economy Cars, Sports Utility Vehicles, and Multi Utility Vehicles), mode of booking (On-Line and Off-Line), and region (North America, Europe, Asia Pacific, and the Rest of the World)

According to a new market report published by Lucintel, the global car rental industry looks good with opportunities in the off- airport and on-airport market segment. The global car rental industry is expected to reach an estimated $99.6 billion by 2022 and it is forecast to grow at a CAGR of 5.5% from 2017 to 2022. The major drivers of growth for this market are increase in international air travelers and increase in the volume of domestic tourists. 

Browse 84 market data tables and 73 figures spread through 154 pages and in-depth TOC on “Global Car Rental Market 2017- 2022” 

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Within the global car rental industry, the leisure customer segment is expected to remain the largest market. With a rise in air travel and domestic tourism, and recovery in the GDP level, the number of the leisure customers in is expected to increase, which will spur growth for this segment over the forecast period.
North America is expected to remain the largest region due to high quality road infrastructure and limited railways. Increasing investment opportunities in different industries, gains in per capita disposable income, and increasing corporate travel will drive car rental demand in North America. 

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Emerging trends, which have a direct impact on the dynamics of the industry, include enhanced user experience through digitization, additional green vehicles in the fleets of rental car companies, introduction of autonomous vehicles, enhanced technologies in car rental services, and the concept of self-driving instead of hiring a driver. Enterprise Rent-A-Car, Hertz Global Holdings, Inc., Avis Budget Group Inc., Europcar Groupe S.A., and Sixt AG are the major car rental service providers in the global car rental industry.

The study includes a forecast for the global car rental industry by location, customer, vehicle, mode of booking, and region as follows:

By location ($ Billion from 2011 to 2022)

  • On-Airport                                
  • Off-Airport                               

By customer ($ Billion from 2011 to 2022)

  • Business                                  
  • Leisure                         
  • Others                         

By vehicle ($ Billion from 2011 to 2022)

  • Luxury Cars                              
  • Executive Cars                         
  • Economy Cars                         
  • Sports Utility Vehicles  
  • Multi Utility Vehicles                             

By Mode of Booking ($ Billion from 2011 to 2022)

  • On-Line                        
  • Off-Line                                   

By region ($ Billion from 2011 to 2022)

  • North America
    • US
    • Canada
    • Mexico
    • Europe
      • United Kingdom
      • Italy
      • France
      • Germany
      • Spain
      • Asia Pacific
        • China
        • India
        • Japan
        • Hong Kong
        • South Korea
        • The Rest of the World
          • Brazil
          • Argentina

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