The latest study released on the Global Vehicle Rental Services Market by AMA Research evaluates market size, trend, and forecast to 2027. The Vehicle Rental Services market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Key Players in This Report Include:
Avis Budget Group Inc. (United States), Enterprise Holdings Inc.(United States), Hertz Global Holdings Inc (United States), Localiza (Brazil), SIXT (Germany), Uber Technologies, Inc. (United States), Budget Truck Rental (United States), Fast Rent a Car (UAE), Bettercar Rental (Dubai), Europcar Mobility Group (France),
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Definition:
Vehicle rental or vehicle hire agencies are agencies that rent automobiles for a short period of time at a certain cost. Rental services for SUVs and MUVs are anticipated to witness considerable growth in the next few years owing to an observed increase in people traveling for leisure and recreational purposes. Luxury car rental services have picked up pace in the emerging markets of China and India, whereas they have already attained maturity in developed countries such as the U.S. and U.K. Asia Pacific is anticipated to emerge as the fastest-growing regional market due to rising availability of high-end luxury as well as economy vehicles, particularly in developing nations, is providing a major boost to the car rental industry in the region.
The Indian car rental industry, Revenue in the Car Rentals segment amounts to USD 2,508m in 2020. Revenue is expected to show an annual growth rate of 11.8%, resulting in a market volume of USD 3,912m by 2024. In 2018, the European Government Spends New leasing volumes worth USD 473.162 billion on Assets, in which 52 % for Passenger Cars and 18% on Commercial Vehicles.
Market Trend:
- Increasing Demand for Online Rental Services
- Increasing sales of smartphones is another major factor propelling the market
Market Drivers:
- The rise in the trend of on-demand transportation services
- The Introduction of value-for-money Vehicle Rental Services is a trend that is gradually gaining momentum in the industry
Market Opportunities:
- High Adoption due to growing tourism industry across the globe
- Increasing Adoption of Car Rental Management Software
The Global Vehicle Rental Services Market segments and Market Data Break Down are illuminated below:
by Application (Local usage, Outstation, Others), Vehicle Type (Car (Luxury Car, Executive Car, Economical Car, Sports Utility Vehicle (SUV), Multi Utility Vehicle (MUV)), Van, Truck, Others), Booking (Offline Booking, Online Booking), Rental Type (Chauffeur Drive, Special Event, Self Driving, Business Retail), End User (Personal, Business)
Global Vehicle Rental Services market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to help the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
- -To carefully analyze and forecast the size of the Vehicle Rental Services market by value and volume.
- -To estimate the market shares of major segments of the Vehicle Rental Services
- -To showcase the development of the Vehicle Rental Services market in different parts of the world.
- -To analyze and study micro-markets in terms of their contributions to the Vehicle Rental Services market, their prospects, and individual growth trends.
- -To offer precise and useful details about factors affecting the growth of the Vehicle Rental Services
- -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Vehicle Rental Services market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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Major highlights from Table of Contents:
Vehicle Rental Services Market Study Coverage:
- It includes major manufacturers, emerging player’s growth story, and major business segments of Vehicle Rental Services market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
- Vehicle Rental Services Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
- Vehicle Rental Services Market Production by Region Vehicle Rental Services Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
- Key Points Covered in Vehicle Rental Services Market Report:
- Vehicle Rental Services Overview, Definition and Classification Market drivers and barriers
- Vehicle Rental Services Market Competition by Manufacturers
- Impact Analysis of COVID-19 on Vehicle Rental Services Market
- Vehicle Rental Services Capacity, Production, Revenue (Value) by Region (2021-2027)
- Vehicle Rental Services Supply (Production), Consumption, Export, Import by Region (2021-2027)
- Vehicle Rental Services Production, Revenue (Value), Price Trend by Type {Payment Gateway, Merchant Account, Subscription Management,}
- Vehicle Rental Services Manufacturers Profiles/Analysis Vehicle Rental Services Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
- Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
- How feasible is Vehicle Rental Services market for long-term investment?
- What are influencing factors driving the demand for Vehicle Rental Services near future?
- What is the impact analysis of various factors in the Global Vehicle Rental Services market growth?
- What are the recent trends in the regional market and how successful they are?
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