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Car Rental Market Incredible Growth And New Trends By Top Key Players Avis Budget Group, Inc., Carzonrent India Pvt Ltd., Enterprise Holdings Inc., Europcar, The Hertz Corporation, Sixt Rent a Car, Uber Technologies Inc

04-03-2019 07:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Big Market Research

Car Rental

Car Rental

Car Rental companies offer automobiles on rent with a suitable fee for a certain duration that can range from hours to months. Various types of cars are available on rent, including economy cars, executive cars, luxury cars, SUV’s and MUV’s. These cars are rented for different purposes, including airport transport, local usage, outstation, event transportation, self-drive, and employee transportation. Besides the basic vehicle on rent, car rental firms often offer additional services such as entertainment systems, GPS navigation systems, and insurance.

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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% from 2016 to 2022.

Development of the travel & tourism industry, rise in disposable income of people in North America & Europe, enhanced road infrastructure, and increase in investment by global funds and players opting for aggregator-based business model are the key drivers of the market. However, negative impact of volatile prices of gasoline & petroleum products on expenditure of the car rental industry hampers the market growth. Growth in trend of internet usage to customize travel trips and for reservations & bookings is expected to unfold various opportunities for the growth of the market.
Top Key Players : 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, and Budget Rent a Car System, Inc.

The report offers in-depth analysis of the current market trends that drive the growth of the market along with an analysis of the future market potential. The study provides market status and outlook from the point of view of market players, end industries, regions, and product types.

The market segmentation is based on type of car, rental category, and geography. The type of car segment is categorized into luxury car, executive car, economical car, sports utility vehicle, and multi utility vehicle. The rental category is bifurcated into on airport and off airport rental. Off airport rental is sub segmented into local usage, outstation, and others.

Smart Transportation Market Key Segmentation
• By Car : Luxury Car, Executive Car ,Economical Car, Sports Utility Vehicle (SUV),Multi Utility Vehicle (MUV)

• By Rental category : On Airport ,Off Airport ( Local Usage, Outstation, Others )

• Geographically, it is segmented across North America (U.S. and Canada), Europe (UK, Germany, France, and rest of the Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)..

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KEY BENEFITS
• The report includes an extensive analysis of the factors that drive as well as restrain the growth of the global car rental market.

• The market projections from 2014 to 2022 are included along with the impacting factors.

• The report also offers quantitative as well as qualitative trends to assist the stakeholders to understand the situations prevailing in the market.

• Extensive analysis by vehicle type facilitates to understand various types of vehicles that are utilized in car rental industry.

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