Passenger Car Rental Market 2023 - Future Challenges, Growth Opportunities, Upcoming Trends, Industry Demand And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Passenger Car Rental Market Size, Growth Rate, And Forecast

The global passenger car rental market size is expected to grow from $164.30 billion in 2022 to $173.19 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global passenger car rental market size is expected to reach $202.40 billion in 2027 at a CAGR of 4%.

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Passenger Car Rental Market Drivers

The low rate of car ownership among millennials is expected to propel the growth of the passenger car rental market going forward. The owner of a vehicle is defined as either a person who is legally in possession of the vehicle or the person whose name is on the vehicle's registration with the Department of Motor Vehicles.

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Passenger Car Rental Market Segments

• By Vehicle Type: Luxury Cars, Executive Cars, Economy Cars, Sports Utility Vehicle (SUV), Multi Utility Vehicle (MUV)
• By Rental Duration: Long-Term, Short-Term
• By Application: Local Usage, Airport Transport, Outstation, Others
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Passenger Car Rental market.

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Passenger Car Rental Market Key Players

Major competitors in the Passenger Car Rental market include Avis Budget Group Inc., Sixt SE, Hertz Global Holdings Inc., Enterprise Holdings Inc., Europcar Mobility Group SA.

The Business Research Company's "Global Passenger Car Rental Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Passenger Car Rental Market Include:

1. Executive Summary
2. Passenger Car Rental Market Characteristics
3. Passenger Car Rental Market Trends And Strategies
4. Passenger Car Rental Market - Macro Economic Scenario
5. Passenger Car Rental Market Size And Growth
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26. Africa Passenger Car Rental Market
27. Passenger Car Rental Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Passenger Car Rental Market
29. Passenger Car Rental Market Future Outlook and Potential Analysis
30. Appendix

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