Press release
Car Rental Services Market is expected to reach USD 197.29 Billion by 2030 : Cognitive Market Research
Car Rental Services Market is expected to reach USD 197.29 Billion by 2030 : Cognitive Market Research
- Car rental services are businesses that rent out vehicles for short-term use to customers who required a vehicle for transportation. Car rental services provide a wide range of vehicles, from economy cars to luxury cars, SUVs, and trucks, for rent on a daily, weekly, or monthly basis. Some car rental services provide additional features, such as GPS navigation, roadside assistance, and insurance coverage, for an extra fee.
Summary:
• Global Car Rental Services Market Size Was Valued at USD 104.33 Billion In 2022 And is Expected to Grow at a CAGR Of 8.29 % During the Forecast Period, Reaching USD 197.29 Billion By 2030.
"To know more The Car Rental Services Market statistics click here: https://www.cognitivemarketresearch.com/car-rental-services-market-report
Market Dynamics:
Recent advancements in the transportation sector along with the customers being inclined toward mobility technologies are the main driving factor contributing to the growth of the global car rental services market during the forecast period. customers prefer renting a car as a cost-effective and convenient method of travel, with many services offering a variety of models at discounted rates. Additionally, the rising penetration of the smartphones and rise in government initiatives for promoting environmental sustainability services have driven market growth over the forecast period. Consumers are using traveling apps to view and book holidays on the go. So, the car rental industry is realizing the importance of mobile-driven traveling approaches. However, car rental services may not always have the type of vehicle widely available, especially during peak travel times. It may obstruct the growth of the global car rental services market in near future.
Segmentation analysis
Vehicle Type
• Luxury/Premium Cars
• Economy/Budget Cars
Based on product type, economy/budget cars held a major revenue share in 2022.
Economy/budget cars held a major revenue share in 2022 owing to the economy cars being popular choices among budget-conscious travelers, as they offer a convenient mode of transportation at a lower cost than luxurious vehicles. An economy car is a type of rental car that is small in size, fuel-efficient, and affordable to rent.
Booking Type
• Offline
• Online
The online segment is expected to grow at the highest CAGR during the forecast period.
Based on the booking type, the online segment is expected to grow at the highest CAGR during the forecast period. This is because online reservations have become increasingly popular in recent years, many rental car companies offer online rental services for customers who prefer to book online or who need to rent a car on short notice.
Application
• Leisure/Tourism
• Business
The tourism segment acquired the major revenue share in terms of application.
Based on the application, the tourism segment is a major revenue contributor, as tourists significantly use rental services to rent cars, trucks, vans, or other vehicles for a variety of purposes, such as sightseeing, exploring natural attractions and visiting museums and cultural sites.
End User
• Self-driven
• Chauffeur-driven
The Major Players in Car Rental Services Market are:
Enterprise, Hertz, Avis Budget, Sixt, Europcar, Localiza, CAR Inc., Movida, Unidas, Goldcar, eHi Car Services, Fox Rent A Car
Get free sample pages of the latest published Car Rental Services Report:
https://www.cognitivemarketresearch.com/car-rental-services-market-report/report_enquiry/4
Regional Analysis:
- North America is expected to dominate the car rental services market during the forecast period.
As per CMR analysis, North America accounted for relatively the largest share of the car rental services market during the forecast period. The growth of market is significantly growing due to the increasing number of rental companies operating across the region and the large presence of the transportation and tourism sector. In the United States, the car rental industry includes major players including Enterprise Rent-A-Car, Hertz, Avis Budget Group, and National Car Rental. Where these companies offer a wide range of vehicles and car rental services.
Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Car Rental Services Market
Chapter 4 Global Car Rental Services Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Car Rental Services Market by Vehicle Type Segmentation Analysis (2018-2030)
Chapter 10 Global Car Rental Services Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Car Rental Services Market by Booking Type Segmentation Analysis (2018-2030)
Chapter 12 Global Car Rental Services Market by End User Segmentation Analysis (2018-2030)
Chapter 13 Global Car Rental Services Market Regional Analysis
• 13.1 Detailed Qualitative Analysis
• 13.2 Global Car Rental Services Market Revenue by Region (2018-2030)
• 13.2 Global Car Rental Services Market Share (%) by Region (2018-2030)
Chapter 14 North America Car Rental Services Market Outlook (2018 - 2030)
Chapter 15 Europe Car Rental Services Market Outlook (2018 - 2030)
Chapter 16 Asia Pacific Car Rental Services Market Outlook (2018 - 2030)
Chapter 17 Latin America Car Rental Services Market Outlook (2018 - 2030)
Chapter 18 Middle East and Africa Car Rental Services Market Outlook (2018 - 2030)
Chapter 19 Research Findings
• 19.1 Key Takeaways
• 19.2 Analyst Point of View
Customized/Exclusive Report Access on Request
To know more Car Rental Services Market TOC click here: https://www.cognitivemarketresearch.com/car-rental-services-market-report#table_of_contents
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
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Cognitive Market Research
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About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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