Car rental market expected to grow $ 66.62 billion in the period 2021-2025: Avis Budget Group Inc., Carzonrent India Pvt. Ltd. and Enterprise Holdings Inc. will become major suppliers
Businesses will go through the response, recovery and renewal phases.
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The car rental market will experience a negative 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 in 2021 compared to 2020.
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 agility will help organizations move forward from the COVID-19 crisis to the next normal.
This post-pandemic business planning research will help customers:
- Adjust their strategic planning to move forward once the stability of the business 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.
Key considerations for market forecast:
- Impact of bottlenecks, supply chain disruptions, destruction of demand and changing customer behavior
- Optimistic, probable and pessimistic scenarios for all markets as the impact of the pandemic unfolds
- Market estimates before and after COVID-19
- Quarterly impact analysis and update of market estimates
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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The related finance report includes:
Global Automobile Use-Based Insurance Market – The global usage-based auto insurance market is segmented by pricing system (PHYD, PAYD and MHYD), application (integrated UBI and application-based UBI) and geography (Europe, North America, APAC, MEA and South America).
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Car rental market in Europe – Car rental market in Europe is segmented by type (railcars, tank cars and intermodals) and geography (Germany, France, Great Britain, Poland, and the rest of Europe).
Download a free sample exclusive report
Three main participants in the car rental market:
Avis Budget Group Inc.
The company offers a car rental service through its Avis, Budget and Zipcar brands.
Carzonrent India Pvt. Ltd.
The company offers a range of car rental services, including intra-city taxis, outdoor taxis, airport pick-up / drop-off service, and company car rental, among others.
Business Management Inc.
The company offers a car rental service through its Enterprise Rent-A-Car (ECAR) brand.
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Car Rental Market 2021-2025: Segmentation
The car rental market is segmented as follows:
- Economy cars
- Executive cars
- Luxury cars
- North America
- South America
The car rental market is driven by the growth of the travel and tourism industry. In addition, the advent of middlemen is expected to trigger the car rental market towards a CAGR of over 18% during the forecast period.
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- Covered suppliers
- Supplier ranking
- Positioning of sellers in the market
- Competitive scenario
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