Press release
Car Rental Market: Rising Number of Air Travelers to Generate Promising Opportunities for Players
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As per the research study, the global car rental market is expected to reach a value of US$79.46 bn by the end of 2019. This market is projected to register a progressive growth rate throughout the forecast period.
Presence of Prominent Players in U.S. to Bolster North America Car Rental Market
On the geographical front, North America is expected to lead the global car rental market and reach a value of US$28.58 bn by the end of 2019. The significant demand from the U.S. is the primary factor augmenting the car rental market in North America. The U.S. market for car rental is projected to reach a value of US$23.78 bn by 2019, thanks to the presence of leading players in this nation. Asia Pacific and Europe are estimated to follow North America and witness substantial growth during the forecast period.
On the basis of type of car, the economy car segment is anticipated to lead the global and the U.S. car rental market. This segment is projected to account for a share of 31.44% in the global market by the end of 2019. The robust growth of this segment can be attributed to the cost effectiveness offered by economy cars. In addition, the easy availability of these cars for car rental is one of the primary factors expected to fuel the growth of this segment in the next few years.
Booming Tourism Industry Drives Demand for Car Rental Worldwide
The tremendous rise in the number of business and leisure trips around the world is one of the primary factors augmenting the growth of the global and U.S. car rental market. In addition, the increasing number of air travelers and the growing demand for car rentals from airports to their desired destinations are anticipated to fuel the growth of the car rental market across the globe. The increasing number of internet users worldwide and the introduction of applications for car rental bookings are accelerating the growth of the overall market.
The growing awareness among consumers regarding the benefits and convenience offered by car rental services and the developing global tourism industry are projected to provide substantial opportunities for the leading players in the overall market.
View Report: http://www.transparencymarketresearch.com/car-rental-market.html
Volatility in Crude Oil Prices to Hamper Market Growth
On the flip side, the low cost of public transportation and stringent regulations imposed by governments regarding emissions are estimated to restrict the growth of the global and U.S. car rental market in the next few years. Additionally, constant fluctuations in crude oil prices are expected to hamper the market’s growth throughout the forecast period. Nevertheless, the option of customized travel trips, online bookings, and hassle-free processes is likely to supplement the growth of the market.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Car Rental Market - Global and U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013–2019.”
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Description
Wiseguyreports.Com Adds "Car Rentals -Market Demand, Growth, Opportunities and Analysis Of Top Key Player Forecast To 2025" To Its Research Database
The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Car Rentals by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain…
