Car Rental Market 2018 Global Industry Analysis By Size, Share, Trends, And Key Company - Europcar, Enterprise Holdings, Avis Budget, Hertz Corporation, And Capps Truck & Van Rental

Car Rental Market 2018 Global Forecast to 2023 Research Report, Global Car Rental Market is projected to witness 14% CAGR by 2023. Increase in the per capita disposable income of the consumers will increase their purchasing power, which will further enhance their comfort of renting. In the past years, there has been a massive increase in the business and non-business trips around the globe, which aid in the growth of the global car rental market. Rapid growth in urbanization and population makes it difficult for the consumers to drive their own vehicles, which would create a demand for car rental.

The prominent players in the global car rental market include Avis Budget Group (US), Enterprise Holdings, Inc. (US), Europcar (France), The Hertz Corporation (US), and Sixt SE (Germany). Localiza (Brazil), Eco Rent a Car (India), Al-Futtaim Vehicle Rentals Company LLC (Qatar), Capps Truck & Van Rental (US), and Bandago Van Rental (US) are among others.

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Market Highlights:

This study provides an overview of the global car rental market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive car rental market by type, mode of booking, application, vehicle type, and regions.

Global car rental market has seen remarkable growth; expected to rise at a CAGR of ~14% between 2018 and 2023. 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.

Geographically, the global car rental market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. North America will dominate the market in terms of both, value and volume during the forecast period followed by Europe. In North America, increase in the number for business and non-business trip will enhance the car rental market. In Europe, growth of tourism and stringent government policies will further fuel the growth for the car rental market.

Additionally, favorable government norms and increase in awareness regarding environmental protection through vehicles will create opportunities for the new entrants in the global market for car rental. Avis Budget Group (US) and Enterprise Holdings, Inc. (US) are the biggest companies in the market. The acquisition of widely present local players is the key strategy adopted by the major players in the market. However, there is high competition in the market owing to the presence of a high number of players, which may restrain the growth of the market. Customer service and continuous changing crude oil prices will be major concerns for the prominent and new players in the global car rental market.

The report for Global Car Rental Market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

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