Press release
Car Rental Business Market to reach USD 175.37 Bn by 2029, Business Growth and Regional Insights
Car Rental Business Market
Car Rental Business Market Report Scope and Research Methodology
The Car Rental Business Market is an automobile rental service company that rents out cars for a fee for short periods of time. The business is generally organized with many local branches and is primarily located around airports or big city centers, with an online reservation system. Car rental firms generally assist those who have a car that is temporarily unavailable or out of service, such as out-of-town vacationers or owners of damaged or destroyed vehicles awaiting repair or insurance settlement.
The COVID-19 pandemic has impacted negatively on economies around the world, in addition to having an especially negative impact on the car rental business market. The issues that followed the global shutdown are significant and, in many cases, insurmountable. Since travel was restricted due to the virus's spread, there is less demand for rental automobiles at airports due to decreased global air traffic. Additionally, the car rental business market's growth during the Forecasts period is projected to be hampered by the rising cost of petrol and diesel in developing nations.
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Car Rental Business Market Dynamics
The report highlights the increasing demand for online car rental services, which is changing the sector as a result of increased online technology usage, which also makes it possible for operators to provide their clients with better services. The sector is also being disrupted by new key players like Zipcar and BlaBlaCar, who drive innovation with business models such as car renting and adoption of technology such as telematics.
However, the report also points out some challenges faced by the Car Rental Business Market. One of the main growth restraints is the lack of service providers in outlying areas. There are no car rental options in impoverished areas, and the biggest obstacle in the market is the lack of knowledge regarding car rentals in these areas.
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Car Rental Business Market Regional Insights
The report provides insights on the market based on various regions including North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Car Rental Business Market Segmentation
By Vehicle Type:
• Luxury Car
• Executive Car
• Economy Car
• Sports Utility Vehicle (SUVs)
• Multi Utility Vehicle (MUVs)
By Application:
• Local Usage
• Airport Transport
• Outstation
• Other
By Rental Duration Type:
• Short Term
• Long Term
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Car Rental Business Market Key Competitors include:
• Avis Budget Group (US)
• Enterprise Holdings Inc (US)
• Hertz System, Inc. (US)
• Uber Technologies Inc. (US)
• Budget Rent A Car System, Inc. (US)
• Dollar Rent A Car (US)
• Enterprise Holdings Inc. (US)
• National Car Rental (US)
• Zipcar, Inc (US)
• Auto Europe (US)
• Holiday Autos (US)
• Torq Car Rental (Canada)
• Eligo Cars (Canada)
• Carzonrent India Pvt Ltd. (India)
• Eco Rent a Car (India)
• ANI Technologies Pvt. Ltd. (India)
• ORIX Auto Corporation (Japan)
• U-DRIVE Luxury Car Rentals (Australia)
• DriveMyCar Rentals Pty., Ltd. (Australia)
• LOTTE Rental Co., Ltd. (South Korea)
• Europcar Mobility Group(France)
• Sixt SE (Germany)
• Share Now GmbH (Germany)
• Goldcar.es (Spain)
• Autonom Services SA (Romania)
• Localiza Rent a Car S/A (Brazil)
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Table of Content for Car Rental Business Market
Global Car Rental Business Market: Research Methodology
Global Car Rental Business Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Car Rental Business Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Car Rental Business Market Segmentation
Global Market, by Vehicle Type (2021-2029)
Global Market, by Application (2021-2029)
Global Market, by Rental Duration Type (2021-2029)
Regional Car Rental Business Market (2021-2029)
Regional Market, by Vehicle Type (2021-2029)
Regional Market, by Application (2021-2029)
Regional Market, by Rental Duration Type (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Key Types:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Vehicle Type, Application, Rental Duration Type and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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