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Car Rental Market Covid-19 Impact Analysis | Business Outlook, Growth, Share, Trends and Forecasts 2026

04-07-2021 04:50 PM CET | Tourism, Cars, Traffic

Press release from: Allied Market Research

car rental market

car rental market

The global car rental market was pegged at $85.14 billion in 2016 and is expected to reach $214.04 billion by 2027, registering a CAGR of 10.7% from 2020 to 2027.

Expansion & progression of global travel and tourism industry increase in disposable income of people in North America, enhanced road infrastructure, and rise in investment by global funds and players opting for aggregator-based business model are the major factors that drive the growth of the global car rental market. However, volatile prices of gasoline and petroleum products hamper the car rental market growth. On the contrary, the rise in trend of using the internet to customize travel trips and for reservations and bookings is expected to create lucrative opportunities in the near future


The market report analyzes the major market players such as Carzonrent India Pvt Ltd., Avis Budget Group, Inc., Europcar, Enterprise Holdings Inc., Sixt Rent a Car, The Hertz Corporation, Localiza, Uber Technologies Inc., Budget Rent a Car System, Inc., and Eco Rent a Car. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the hybrid cloud industry.

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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the North America region held the lion's share in 2017, accounting for nearly two-fifths of the market. However, the market across the Asia-Pacific region is estimated to register the fastest CAGR of 10.5% from 2020 to 2027.

On the basis of the rental category, the market is bifurcated into an airport, off-airport, local usage, outstation, and others. The off-airport segment dominated the market in 2020, contributing around three-fifths of the market. However, the outstation segment is estimated to register the fastest CAGR of 12.8% during the study period.

The global car rental market is categorized on the basis of the type of car, rental category, and region. Based on the type of car, the market is segmented into a luxury car, executive car, economical car, sports utility vehicle (SUV), and multi-utility vehicle (MUV). The economical car segment held the largest share in 2016, accounting more than one-fourth of the market. Moreover, the segment is projected to manifest the fastest CAGR of 12.5% during the forecast period.

Key Drivers such as -
1. Expansion and progression of worldwide travel and tourism industry
2. The rise in the disposable income of people in North America and Europe
3. Enhanced road infrastructure around the globe
4. Investment by global funds and players opting for aggregator based business model

Inquire more about this report @ https://www.alliedmarketresearch.com/purchase-enquiry/2073

Key Benefits
o The study provides an in-depth analysis of the global car rental market with current trends and future estimations to elucidate the imminent investment pockets.
o It offers a quantitative analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
o It also provides market estimation for 2020 and 2027 and Y-o-Y forecasts from 2020 to 2027, considering 2019 as base.

Car Rental Market Key Segments

By Type Of Car
o Luxury Car
o Executive Car
o Economical Car
o Sports Utility Vehicle (SUV)
o Multi Utility Vehicle (MUV)

By Rental Category
o On Airport
o Off Airport
o Local Usage
o Outstation

Report Customization @ https://www.alliedmarketresearch.com/request-for-customization/2073

Questions answered in the car rental market research report:
o What is the growth rate of the car rental market during the forecast period?
o What will be the global car rental market size from 2020 to 2027?
o What are the leading manufacturing companies in the car rental market?
o How the major current trends will shape the market in the future?
o What are the driving factors and opportunities in the car rental market?

Contact:
David Correa
Portland, OR, United States
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Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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