LONDON–(COMMERCIAL THREAD) – Technavio is monitoring the car rental market and it is expected to grow by USD 103.75 billion during the period 2020-2024, growing at a CAGR of over 17% during the forecast period. The report offers up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the epidemic’s immediate impact is varied. While a few industries will see lower demand, many others will remain unscathed and show promising growth opportunities. Technavio’s in-depth research covers all of your needs, as our research reports include all predictable market scenarios, including pre and post COVID-19 analysis. Download a Free Sample Report on the Impacts of COVID-19
Frequently Asked Questions:
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How is the year-over-year growth of the car rental market in 2020?
A. According to Technavio, the year-over-year growth of the market in 2020 is 16.50%. -
Based on segmentation by type, which is the leading segment of the market?
A. Economy cars. -
What is the key factor driving the market?
A. Integration of advanced digital technologies. -
How fast should the market grow?
A. The market is expected to grow at a CAGR of over 17% during the period 2020-2024. -
Who are the main players in the market?
A. Avis Budget Group Inc., Carzonrent India Pvt. Ltd., Enterprise Holdings Inc., Europcar Mobility Group SA, Expedia Group Inc., Hertz Global Holdings Inc., Localiza Rent a Car SA, Movida Participações SA, SIXT SE and Turo Inc. are the major players in the market.
The market is fragmented and the degree of fragmentation will accelerate during the forecast period. Avis Budget Group Inc., Carzonrent India Pvt. Ltd., Enterprise Holdings Inc., Europcar Mobility Group SA, Expedia Group Inc., Hertz Global Holdings Inc., Localiza Rent a Car SA, Movida Participações SA, SIXT SE and Turo Inc. are among the major market players. To make the most of opportunities, market sellers should focus more on growth prospects in fast growing segments, while maintaining their positions in slow growing segments.
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The incorporation of advanced digital technologies has been instrumental in the growth of the market. However, the increase in the number of carsharing services could hamper the growth of the market.
Technavio’s customized research reports offer detailed information on the impact of COVID-19 at the industry level, regional level, and subsequent supply chain operations. This personalized report will also help customers track new product launches in direct and indirect markets related to COVID-19, upcoming vaccines and pipeline analysis, and significant developments in supplier operations and government regulations. .
Car Rental Market 2020-2024: Segmentation
The car rental market is segmented as follows:
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Type
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Economy cars
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Executive cars
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Luxury cars
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SUV
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MUV
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Geographic landscape
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APAC
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Europe
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AEM
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North America
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South America
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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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Remote station transport
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Other transport
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Car Rental Market 2020-2024: Scope
Technavio presents a detailed picture of the market through the study, synthesis and summation of data from multiple sources. the car rental market report covers the following areas:
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Car Rental Market Size
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Car rental market trends
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Industry Analysis of the Car Rental Market
This study identifies advancements in rental processes as one of the major reasons for the growth of the car rental market in the coming years.
Technavio offers three forecast scenarios (optimistic, probable and pessimistic) given the impact of COVID-19. Technavio’s extensive research has had a direct and indirect impact on COVID-19 market research reports.
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Car Rental Market 2020-2024: Highlights
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Market CAGR during the forecast period 2020-2024
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Detailed information on the factors that will drive the growth of the car rental market over the next five years
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Estimation of the size of the car rental market and its contribution to the parent market
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Predictions on upcoming trends and changes in consumer behavior
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The growth of the car rental market
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Market competitive landscape analysis and detailed supplier information
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Complete details on factors that will challenge the growth of the rental car market, suppliers
Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
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2.1 Preface
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2.2 Preface
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2.3 Currency conversion rates for the US dollar
PART 03: MARKET LANDSCAPE
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Market ecosystem
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Market characteristics
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Market segmentation analysis
PART 04: MARKET CALIBRATION
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Market definition
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Sizing of the 2019 market
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Market Size and Forecast 2019-2024
PART 05: FIVE STRENGTH ANALYSIS
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The bargaining power of buyers
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Bargaining power of suppliers
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The threat of new participants
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The threat of substitutes
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Threat of rivalry
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State of the market
PART 06: MARKET SEGMENTATION BY TYPE
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Market segmentation by type
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Comparison by type
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Economy Cars – Market Size and Forecast 2019-2024
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Company Cars – Market Size and Forecast 2019-2024
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Luxury Cars – Market Size and Forecast 2019-2024
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SUV Market Size and Forecast 2019-2024
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MUV Market Size and Forecast 2019-2024
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Market opportunity by type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHICAL LANDSCAPE
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Geographic segmentation
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Geographic comparison
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North America Market Size and Forecast 2019-2024
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Europe – Market Size and Forecast 2019-2024
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APAC Market Size and Forecast 2019-2024
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South America Market Size and Forecast 2019-2024
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MEA – Market Size and Forecast 2019-2024
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Main leading countries
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Market opportunity
PART 09: MARKET SEGMENTATION BY RESERVATION MODE
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Market segmentation by booking method
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Comparison by booking method
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Offline – Market Size and Forecast 2019-2024
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Online – Market Size and Forecast 2019-2024
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Market opportunity by booking method
PART 10: MARKET SEGMENTATION BY RENTAL CATEGORY
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Market segmentation by rental category
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Comparison by rental category
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Airport Transportation – Market Size and Forecast 2019-2024
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Local Transport – Market Size and Forecast 2019-2024
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Station Transportation – Market Size and Forecast 2019-2024
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Other Transportation – Market Size and Forecast 2019-2024
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Market opportunity by rental category
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
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Market factors
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Market challenges
PART 13: MARKET TRENDS
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Advent of intermediaries
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Good value for money car rental services
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Advances in the rental process
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Growing interest in autonomous vehicles
PART 14: SELLERS LANDSCAPE
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Overview
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Landscape disturbance
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Competitive scenario
PART 15: SUPPLIER ANALYSIS
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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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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.
PART 16: ANNEX
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Research methodology
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Abreviations list
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Definition of the market positioning of sellers
PART 17: EXPLORE TECHNAVIO
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