Car Rental Market to Perceive Substantial Growth During 2022-2031 | Avis Budget Group, Inc, EuropeCar, Enterprise Holdings, Inc., Hertz System, Inc.

New York, According to a new market research report published by Global Insight Services Car Rental Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Car rental is the renting of a car for a short period of time, usually ranging from a few hours to a few days. Car rental companies typically provide cars for rent at an agreed-upon price and for a set period of time. The customer typically pays for the car rental upfront and then returns the car to the rental company at the end of the rental period.

There are a number of reasons why someone might choose to rent a car. Perhaps they are visiting a new city and need a way to get around. Or, they may need a car for a business trip or to attend a special event. Whatever the reason, car rental can be a convenient and affordable option.

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Key Trends

There are a few key trends in car rental technology. The first is the use of apps to make the rental process more streamlined and efficient. This includes apps that allow you to reserve a car and pay for it ahead of time, as well as apps that help you find the closest and most available rental car.

Another key trend is the use of electric cars. This is becoming more popular as rental companies look for ways to be more environmentally friendly and as customers look for more fuel-efficient options.

Finally, there is a trend towards offering more flexible and personalized rental options. This includes things like monthly or weekly rentals, as well as the ability to rent by the hour or day. This allows customers to more easily find a rental option that fits their needs and budget.

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Key Drivers

There are several key drivers of the car rental market.

One of the most important drivers is the growth in tourism. As more people travel, there is an increased demand for car rentals.

Another key driver is the growth of the sharing economy. Companies such as Uber and Lyft have made it easier for people to share cars, which has put downward pressure on prices.

Finally, the rise of technological advancements such as self-driving cars is likely to have a major impact on the car rental market in the future.

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Market Segments
By Application
Leisure
Commercial

By Rental Category

On airport
Off airport

Key Players

The Car Rental Market report includes players such as Avis Budget Group, Inc, EuropeCar, Enterprise Holdings, Inc., Hertz System, Inc., Localiza, Sixt, Carzonrent India Pvt Ltd., Eco Rent a Car and ANI Technologies Pvt. Ltd.

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Reasons to buy Car Rental Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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