Global Car Rental Market: Industry Size, Share, Growth and Forecast 2016 - 2024
Latest
industry research report on: Global Car Rental Market : Industry
Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
Car rental has emerged to be
one of the most prominent services operating in the urban transport
sector.Rising demand for car sharing, growth of megacities and
increase in the number of business travelers are some of the crucial
reasons which will lead to a huge growth in the car rental industry.
The leading car
rental
companies operating in the global market such as, Avis Budget Group,
Inc., The Hertz Corporation and The Sixt Rent, have been adding cars
to their existing fleet which have advanced telematics and navigation
solutions. The market is highly competitive with several
international and regional companies operating in the market. A car
rental company rents and leases vehicles for a particular period of
time for a specified amount of fees. The time can range from a few
hours to a few months. Car rental companies are also accompanied by
websites for allowing online reservations which are hassle-free and
convenient compared to traditional reservation methods.
The car rental industry is
majorly driven by expansion and growth of the travelling and tourism
industry. The globally rising disposable incomes, coupled with
enhanced road infrastructure are the key factors which have boosted
the number of leisure and business trips, this in turn will drive the
growth trajectories of the global car rental market. In recent years,
the car rental industry has witnessed implementation of information
technology. The use of internet for arranging trips and online
reservations is becoming increasingly prevalent.
The
advent of information technology in this industry has made the entire
procedures of booking and reserving trips quicker, safer and easier
and reliable for the customers.However, tighteningof emission
standards and volatility of crude oil prices is expected to have
moderate negative impact on the car rental industry.The International
Energy agency has constantly warned about the increase in carbon
dioxide emissions over the years. Many international meetings and
agreements have demanded both the emerging and mature economies to
cut down emissions significantly. Thus, this factor creates the need
for green energy generation, in order to reduce carbon dioxide
emissions and overall environmental pollution. As a result, leading
companies, such as Enterprise Rent-A-Car, have adopted green car
rentals. Other players are also aiming to adopting the same soon.
Global Car Rental Market:
Segmentation
The global car rental market
report segments the market on the basis of geography as North
America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA)
and Latin America, and these have been estimated in terms of revenue
(USD billion). The report also segments the market based on the types
of cars, which include luxury cars, executive cars, economy cars,
SUV’s and MUV’s. The global car rental market is further
segregated on the basis of category into local usage, airport,
outstation, and others (self-drive, event transportation, employee
transportation solutions). All these segments have also been
estimated on the basis of geography in terms of revenue (USD
billion).
For a more detailed
understanding of the market, a supply chain analysis along with
Porter’s Five Forces analysis has been given. These two analysis
will give a brief idea about the intensity of competition present in
the market. Additionally, our study also provides a market
attractiveness analysis, where the car type segment has been analyzed
based on their market scope, general attractiveness and growth rate.
Global Car Rental Market:
Competitive Analysis
The report provides company
market share analysis of various industry participants. The company
profiles are inclusive of the company overview, financial overview,
business strategies, SWOT analysis, and recent developments in the
field of car rental. Some of the major market participants profiled
in this report include Enterprise Rent-A-Car, The Hertz Corporation,
Avis Budget Group, Inc., EuropCar and Sixt among others.
The global car rental market
has been segmented as follows:
By Car Type
- Luxury Cars
- Executive Cars
- Economy Cars
- SUVs
- MUVS
By Category
- Local Usage
- Airport Transport
- Outstation
- Others
By Geography
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- U.A.E
- South Africa
- Rest of Middle-East and Africa
- Latin America
- Brazil
- Rest of Latin America
- Rest of Latin America
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