LONDON–(COMMERCIAL THREAD) – The car rental market is expected to grow by $ 103.75 billion during the period 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the car rental market under optimistic, probable and pessimistic forecast scenarios.
The car rental market will experience negative and lower impact during the forecast period due to the widespread growth of the COVID-19 pandemic. According to Technavio’s pandemic-focused market research, the market growth is expected to increase from 2019.
Businesses will go through phases of response, recovery and renewal. Download a free sample report
With the continued spread of the novel coronavirus pandemic, organizations around the world are gradually flattening their recession curves by taking advantage of technology. Many businesses will go through phases of response, recovery and renewal. Building business resilience and enabling agility will help organizations move forward from the COVID crisis and into the next normal.
This post-pandemic business planning research will help customers:
- Adjust their strategic planning to move forward once the stability of the company is in place.
- Build resilience by make efficient resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the post-pandemic planning structure. Click here
Key considerations for market forecast:
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Impact of bottlenecks, supply chain disruptions, destruction of demand and changing customer behavior
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Optimistic, probable and pessimistic scenarios for all markets as the impact of the pandemic unfolds
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Market estimates before and after COVID-19
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Quarterly impact analysis and update of market estimates
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Main participants in the car rental market:
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Avis Budget Group Inc.
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Carzonrent India Pvt. Ltd.
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Business Management Inc.
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Europcar Mobility Group SA
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Expedia Group Inc.
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Hertz Global Holdings, Inc.
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Localiza Rent a Car SA
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Movida Participações SA
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SIXT SE
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Turo inc.
If you purchase an updated report within the next 60 days, we’ll send you the new edition and the data extract for FREE! Get an overview of the report here to get a detailed analysis of the market share of market players during the COVID-19 lockdown: https://www.technavio.com/report/ car rental market-industry-analysis
Car Rental Market 2020-2024: Segmentation
Car rental is segmented as follows:
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Type
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Economy cars
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company cars
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luxury cars
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SUV
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MUV
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Booking method
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Rental category
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Airport transport
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Local transportation
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Station transport
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Other transport
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Geography
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North America
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Europe
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APAC
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AEM
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South America
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The car rental market is driven by the incorporation of advanced digital technologies. In addition, other factors such as advancement in rental processes are expected to cause the rental car market to witness a CAGR of over 17% during the forecast period.
Get more insight on global trends impacting the future of the car rental market, request a free sample @ https://www.technavio.com/talk-to-us?report=IRTNTR40065
Market factors
Market challenges
Market trends
Supplier landscape
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Covered suppliers
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Supplier ranking
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Positioning of sellers in the market
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Competitive scenario
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