Report
Description
A recent market intelligence report that is published by Data
Insights Partner on Car Rental Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international. The research study also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and world Car Rental Market over the short as well as long period of time. A
detailed presentation of forecast, trends, and dollar values of international Car
Rental Market is offered.
Market
Insights:
In accordance with the report, the Car Rental Market is
projected to expand at a CAGR of 9.12% over the period
of forecast. The global Car Rental
Market was valued at USD XX.X Mn in 2019 and is expected to reach USD XX.X Mn
in 2031, growing with a significant CAGR rate during the forecast period. Renting
a car is a service that can be used for a variety of things. Both offline and
internet resources are used to provide the service. The length of the car
rental might be expressed in hours or months. People who don't own their own
cars can benefit from the automobile rental services. Car rentals include
insurance coverage and a car damage service in their list of services. Other
value-added features include complimentary wifi, entertainment equipment, and
kid safety seats. Every year, a lot of people hire cars on the international
market. Schemes for renting cars are frequently economical, which raises demand
for them. The global market for car rentals also reduces the number of
privately owned vehicles on the road. In the end, traffic and air pollution are
reduced. People are choosing to rent cars in greater numbers as a result of the
expanding economy. Urbanization growth is a market demand-generating
phenomenon. The majority of people believe that renting a car is a better
option than owning one. To control traffic and air pollution, the government has
taken a number of actions. More market marketing follows as a result.
Government incentives encourage new firms to enter the international market. The
development of technology is another factor influencing demand in the global
market. Car rental reservations are now simpler thanks to the growth of
smartphone applications. The public has more rental car options thanks to the
car booking apps. The public can view the cost of renting a car transparently
thanks to the car booking apps. These apps offer great features, such as cost
comparison, vehicle type selection, and passenger limits. The range of
automobile rental options and booking flexibility contribute to the market's
expansion. These are the main driving forces that will alter market
expectations in the prediction year 2031. The largest car rental market
worldwide is in North America. The market is being driven by its adoption of
automobile rental software and low-cost rentals. The US effectively meets the
demand for car rentals. The main driver of success is also the consistent flow
of supply and demand trends for car rentals. Asia Pacific, Europe, and the
Middle East are additional regions that share sizable marketplaces. The
region's automobile rental industry is being driven by the rising European
tourism industry. In the Asia-Pacific area, rising urbanisation and population
are the main demand-creating forces.
Research
Methodology:
To compile
the detailed study of the global Car Rental Market, a
robust research methodology has been adopted that aids in determining the key
insights and also evaluates the growth prospects of the Car Rental Market. Comprehensive and iterative research
methodology focused on minimizing deviance in order to provide the most
accurate estimates and forecast possible. The company utilizes a combination of
bottom-up and top-down approaches for segmenting and estimating quantitative
aspects of the market. Our research methodology implements a mix of primary as
well as secondary research. Our projects are initiated with secondary research,
where we refer to a variety of sources including trade databases; government
published documents, investor presentations, company annual reports, Industrial
papers, and paid databases. To carry out secondary research, the analysts have
collected the information through company annual reports, journals, company
press releases, and paid databases that were referred to gain and identify
better opportunities in the Car Rental
Market.
COVID-19
Scenario Analysis:
The COVID-19
outbreak has shaken the whole economy in the world. In this scenario some
industries are doing quite well while others have been crushed. This section of
the report has explored the overall status of the COVID-19 scenario. The
industry witnessed a huge decline in terms of sales. Likewise, the Car Rental Market was affected negatively due to the
shutdown of manufacturing/processing facilities for some time. The analysts
have also focused on the key measures that the companies are opting to
withstand the harsh scenario.
Segment
Covered:
Car Rental Market Compounded
annual growth rates for all segments have also been provided for 2019 to 2031. This
report is a compilation of first-hand information, qualitative and quantitative
assessment by industry analysts, inputs from industry experts and industry
participants across the value chain.
Key Segments:
Car Rental Market research report
includes an in-depth coverage of the industry with estimates & forecast
from 2022 to 2031, for the following segments:
Car Rental
Market, By type, 2022-2031 (USD Million)
·
Airpot
·
Outstation
·
Local
·
Others
Car Rental
Market, By application, 2022-2031 (USD Million)
·
Non Business
Booking
·
Business
Booking
Car Rental
Market, By mode of booking, 2022-2031 (USD Million)
·
Online
·
Offline
Car Rental
Market, By vehicle mode, 2022-2031 (USD Million)
·
Muv
·
Suv
·
Sedan
·
Luxury
Report
Highlights:
The prime objective of the Car Rental Market report is to
help the user understand the market in terms of its definition, segmentation,
market potential, influential trends, and the challenges that the market is
facing with different major regions and more than 30 major countries across the
globe. During the report's production, extensive research and analysis were
conducted. This research will assist readers in gaining a thorough
understanding of the market.
Car Rental Market,
By Region, 2022-2031 (USD Million)
·
North America (
United States, Canada, Mexico)
·
Europe
(Germany, UK, France, Italy, Russia, Spain, and Rest of Europe)
·
South Asia (
India, Pakistan and Bangladesh)
·
East Asia
(China, Japan and South Korea)
·
South East Asia
(Indonesia, Thailand, Singapore, Malaysia, Rest of SE Asia)
·
Middle East
(Turkey, Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
·
Africa
(Nigeria, South Africa, Egypt, Algeria, Rest of Africa)
·
South America
(Brazil, Argentina, Colombia, Chile, and Rest of SA)
·
Oceania
(Australia and New Zealand)
Companies
Profiled:
To enhance their position in the global
market, key suppliers/manufacturers are concentrating on business expansion and
product innovation. Manufacturers/producers are also working on boosting their
manufacturing capacity and product quality to gain a competitive advantage. The
following are some of the prominent manufacturers in the worldwide Car Rental Market:
·
Enterprise
Holdings Inc
·
Avis Budget
Group Inc
·
Hertz Global
Holdings Inc
·
ANI
Technologies Pvt. Ltd.
·
Uber
Technologies Inc.
·
Europcar
·
Carzonrent
India Pvt Ltd
·
SIXT
·
Eco Rent a
Car
·
Localiza
Car
Rental Market Report Highlights:
·
Detailed
analysis of the parent market
·
Key players'
strategies and products supplied in the competitive landscape
·
Market
segmentation in depth analysis
·
Market size
in terms of volume and value, past, present, and future scenario
·
Potential and
specialty areas, as well as geographical regions with promising growth
prospects
·
Market
players use this information to maintain and expand their market presence, thus
it's important to have an unbiased perspective on market performance.
·
Recent
advancements and technological trends in the industry
