Car Rental Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Automotive, Transportation and Logistics | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC457

Introduction

Car rental is a service which provides automobiles and car on rent for short periods of time. This time period generally ranges from handful hours to weeks. Car rental service is mainly located near tourist places, airports, city, etc. There are many conditional circumstances on car rental service which may differ from region to region. A majority of car rental companies demand for deposit amount before giving car on rent or use a credit card to take additional fees. To carry identity documents while hiring car on rent are also requested by some companies. Car rental has become one of the most important services in transport industry in urban areas and is expected to witness upsurge in demand in coming years due growing trend of car-sharing, business travelers, and the growth of megacities. Automobile manufacturers and technology solution providers are offering several advanced web-based solutions to facilitate the addition of gadgets such as smartphones with cars.

Market Dynamics

The enormous growth in international tourism is the key factor supporting the demand for car rental services. In addition, rising non-refundable income and healthy economic growth in developing countries are resulting in significant rise in car rental market. The growing adoption of smartphones and rising penetration of Internet facilitates the market for car rental service. However, rise in crude oil prices may obstruct the growth of this market. Affordable prices of car rental service, rising demand of car rental on daily basis, and growing inclination towards tourism are likely to open new market paths in near future.

Market Classification and Overview

The market can be bifurcated on the basis of car type, end-user, application, and geography. By car type, car rental market can be segmented into luxury cars, executive cars, economy cars, SUV cars, and MUV cars. By end-user, car rental market can be segmented into individual users and corporate users. Based on applications, the market can be segmented into outstation and within city. On the basis of geography, the car rental market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Report Coverage

Market

Car Rental Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Car Type, End-User, Application, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis

 

Market Participants

Some of the major players involved in car rental market include Avis Budget Group, Inc, Sixt Rent-A-Car, Enterprise Rent-A-Car, The Hertz Corporation, Europcar, Al-Futtaim Group, Carzonrent India Private Limited, Localiza Rent A Car, and Eco Rent A Car, and among others.

Market Segmentation

Market By Car Type

·         Luxury cars

·         Executive cars

·         Economy cars

·         SUV cars

·         MUV cars

Market By End-users

·         Outstation

·         Within city

Market By Geography

·         North America

  • U.S.
  • Canada
  • Mexico

·         Europe

  • UK
  • France
  • Germany
  • Rest of Europe

·         Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific

·         Latin America

  • Brazil
  • Chile
  • Rest of LATAM

·         Middle East and Africa (MEA)

  • South Africa
  • Saudi Arabia
  • Rest of MEA

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