Car Rental Market Growing at 13.60% CAGR due to Rising Number of Online Car Rental Companies

Transparency Market Research has announced the release of a new report, titled “Car Rental Market - Global and U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”. According to the research report, the global car rental market is growing positively at a CAGR of 13.60% in the 2014-2019 forecast period. In 2013, the market was valued at US$36.8 bn and is further expected to reach a market value of US$79.4 bn by the end of 2019.

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The report states that the increasing number of internet users as well as the online presence of car rental companies are some of the main factors fueling this market. It also states that the rise in the number of tourists, better roads and infrastructure, growing disposable incomes, and growing GDP levels have pushed the number of business and leisure trips in the world, thus propelling the car rental market.

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By type of car, the report includes SUVs, MUVs, luxury cars, executive cars, and economy cars as the major segments of this market. The MUVs and executive car segments will grow at the fastest rate during the forecast horizon.

On the basis of category, outstation, local usage, airport, and others (self-drive, event transportation, employee transportation solutions) are some of the main segments of the market.

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In the coming years, the introduction of electric/hybrid vehicles will create new opportunities in the market and rising air traffic will contribute to the growth of the airport transport segment. The airport transport segment was worth US$15.9 bn in 2013 and is expected to grow at a CAGR of 13.70% until 2019.

Browse Article on Car Rental Market: http://www.transparencymarketresearch.com/article/car-rental-market.htm

In spite of moderate growth, North America is expected to dominate the market until 2019.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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This release was published on openPR.