openPR Logo
Press release

Car Rental Market Innovative Solutions to Cater To Customers’ Demands and To Expand Their Business

02-06-2019 10:33 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Car Rental Market

Car Rental Market

The Global Car Rental Market was valued at $79,648 million in 2015, and is expected to reach $164,335 million by 2022, growing at a CAGR of 11.6% during the forecast period. The economical car segment is anticipated to dominate the market throughout the analysis period. North America accounted for approximately 40% share of the global market in 2015.
The growth of the global car rental market is majorly driven by development of the travel & tourism industry. Furthermore, rise in disposable income of people in countries such as the U.S., Germany, and Italy and enhanced road infrastructure is promoting the growth of the market. Increase in investment by global funds and players opting for aggregator-based business model further fueling the market growth.

Automobile companies have developed green vehicles to control the rise in pollution level. Car rental industry contributes significantly in the reduction of the air pollution level. However, negative impact of volatile prices of gasoline and petroleum products on economic conditions restraining the market growth. The growth in trend of internet usage to customize travel trips, reservations, and bookings is expected to unfold various growth opportunities for the market

Download Free Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/2073?utm_source=openpr&utm_medium=vinit

With growth in pollution level and population, the car rental industry has experienced a drastic transformation over the past few years, and is one of the most prominent industries in fleet transportation. Manufacturers and consumers rely on different car rental schemes, which are cost-effective. In addition, car rentals are majorly contributing to curb the pollution level of the atmosphere by reducing the volumetric sales of owned vehicles.

Moreover, with increase in air traffic and growth in rise in trend of online booking in travel industry, car rentals are the preferred options to travel, as cars are the most economical and faster mode of transportation. These advantages are promoting the growth of the car rental industry at an exponential rate.

By the type of car, the car rental market is categorized into luxury car, executive car, economical car, sports utility vehicle (SUV), and multi utility vehicle (MUV). The economical car segment accounted for the highest revenue in 2015, is anticipated to grow at a CAGR of 12.5%, owing to high rate of adoption of economy cars in the emerging economies of Asia-Pacific and LAMEA.

Key Findings of the Car Rental Market
• In 2015, the economical car segment led the overall car rental market, generating revenue of $22,802 million in 2015, and is estimated to grow at a CAGR of 12.5%.
• Off-airport rental category is anticipated to grow at the highest CAGR of 12.0% during the forecast period.
• In 2015, the local usage segment led the off-airport market, accounting for $19,073 million, and is expected to lose the highest market share to outstation off-airport rental category in 2019.
• North America led the market, generating revenue of $32,248 million in 2015, and is projected to grow at a CAGR of 8.8%.
• Asia-Pacific is anticipated to take over the major market share post 2017, owing to the rise in sales of vehicles.

By rental category, the car rental market is befitted into on-airport and off-airport. The off-airport category is further divided into local usage, outstation, and others. In 2015, the off-airport rental category segment accounted for over 61% of the market share, and is anticipated to register a CAGR of 12.0%. This is attributed to the development of travel industry and rise in disposable income globally. The outstation off-airport rental category is anticipated to witness fastest growth, registering a CAGR of 12.8%, due to improvement in road infrastructure globally.

Furthermore, North America accounted for the highest revenue in 2015, and is anticipated to grow at a CAGR of 8.8%, owing to the rise in disposable income of people in countries such as the U.S. and Canada. Asia-Pacific is projected to grow at the highest CAGR of 16.5% owing to high rate of adoption of economy and executive cars.

Get Enquiry for Purchase Report & Discounts: https://www.alliedmarketresearch.com/purchase-enquiry/2073?utm_source=openpr&utm_medium=vinit

The key players operating in the market include Avis Budget Group, Inc., Carzonrent India Pvt Ltd., Enterprise Holdings Inc., Europcar, The Hertz Corporation, Sixt Rent a Car, Uber Technologies Inc., Localiza, Eco Rent a Car, Budget Rent a Car System, Inc., German Rent a Car, Tempest Car Hire, DTG Operations, Inc., and Alamo.

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Car Rental Market Innovative Solutions to Cater To Customers’ Demands and To Expand Their Business here

News-ID: 1564336 • Views: 309

More Releases from Allied Market Research

Dehydrated Food Market Current and Future Trends, Insight Growth and Forecast by …
Dehydrated food is the dried form of food by the process of dehydration. Dehydration enables the product to be preserved for a longer duration and this is the major factor that drives the global market for dehydrated food products. Advancement in technology has allowed the season fruits and vegetables to be consumed at any point in a year by dehydration and preserving for long time. Companies covered Nestle, Unilever, Mercer Foods, Kerry,
India Olive Oil Market Current and Future Demand by 2025 | Colavita S.p.A, Deole …
India Olive Oil Market by Type and Application: Opportunity Analysis and Industry Forecast, 2018 - 2025. The India olive oil market was worth $ 58.6 million in 2017 and is estimated to be growing at a CAGR of 9.9%, to reach $127.5 million by 2025. Olive oil is a liquid fat that is obtained from olives, a crop typically grown in the Mediterranean Basin. The oil is prepared by pressing whole
Food Preservatives Market Opportunities and Analysis to 2023 with Top Players Li …
Food Preservatives Market by Type, Function, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023. The food preservatives market was valued at $2,271 million in 2016, and is projected to reach $2,714 million by 2023, growing at a CAGR of 2.6% from 2017 to 2023. Asia-Pacific is one of the prominent consumers of food preservatives, accounting for nearly one-third of the total market in 2016. Download PDF Sample Report @ https://www.alliedmarketresearch.com/request-sample/2277 Preservatives are
Food Enzymes Market Size, Share, Development and Industry Overview by 2026
Food Enzymes Market by Type, Application and Source: Global Opportunity Analysis and Industry Forecast, 2019 - 2026. The global food enzymes market size was $1,944.8 million in 2018, and is projected to reach $3,056.9 million by 2026, registering a CAGR of 5.6% from 2019 to 2026. In terms of volume, North America occupied more than one-third of the global market share for 2018 and is expected to maintain its dominance during

All 5 Releases


More Releases for Car

Car Monitor Display
https://www.qandqmarketresearch.com/reports/7152010/car-monitor-display-market-78 Global Car Monitor Display Market Insights, Forecast to 2025 This report presents the worldwide Car Monitor Display market size value, production and consumption, splits the breakdown data status 20132018 and forecast to 2025, by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porters Five Forces Analysis. Download Free PDF Sample
Sports Car Industry Forecasts
Albany, New York, November 8, 2016: Market Research Hub has announced a new research report to its database, titled “Sports Car industry forecasts”. In the two past decades, the industry has been growing at a fast pace. The dramatic expansions of the manufacturing capabilities and rising consumer consumptions in China have transformed China’s society and economy. China is one of the world’s major producers for industrial and consumer products. Far
Apple Car
Apple Car – The new Apple driverless car was unveiled it is said to be the top hybrid electric car. The Apple Car will change the automotive industry very soon, learn why, & discover what the Apple Driverless Car will contain. Apple Car - All over, an auto appears like a heartbreaking thing for Apple Inc. to manufacture. Autos are a fiercely commoditised, staggeringly costly, for the most part low-edge
Connected World - Connected Car
According to ABI research, the number of global users of telematics smartphone applications is set to explode in the next five years from 3.2 million to 129 million users. It is vital that automotive manufacturers keep up-to-date with developments in this field if they are to remain competitive in this fast-paced market. Because their customers won’t wait. At IQPC’s 4th International Conference Connected Vehicles from 12-14 April in Berlin, experts
Car insurance: Over 50 car insurance advantages
Over 50 car insurance It has been observed that older drivers tend to have a more mature approach towards driving than new drivers. Car insurance companies are more and more eager to target drivers aged 50 plus or those that have retired as older drivers are more experience, fewer accidents and more consistent. We can say older drivers are present less of a risk. This means the over 50s are less
Car Transport
Car transport services are something a person will most likely need if he or she is moving from one location to another and travelling by airplane or moving while owning more than two cars. Many people have more than one vehicle and sometimes the second or third car is a custom or classic car that shouldn’t be exposed to any type of elements for too long. A car transport service